DIVISION 11.5. REFUNDING ACT OF 1984 FOR 1915 IMPROVEMENT ACT BONDS [9500. - 9707.]

Division 11.5 added by Stats. 1984, Ch. 496, Sec. 1.

§§ 9500–9707 · 83 sections

1. CHAPTER 1. General Provisions and Definitions §§ 9500–9519.5 · 21 sections

   • § 9500 This division shall be known and may be cited as the “Refunding Act of 1984 for 1915 Improvement Act Bonds.”
   • § 9501 The procedures of this division are an alternative to Division 11 (commencing with Section 9000) which relates to the refunding of bonds under the Improvement…
   • § 9502 It is hereby declared that it is a public purpose for a local agency to issue refunding bonds for the purposes set forth in this division and to invest and…
   • § 9503 The legislative body of any city in this state may issue refunding bonds and refund outstanding bonds issued either under the Improvement Bond Act of 1915…
   • § 9504 It is the intention of this division that the outstanding bonds and the original assessments shall remain in full force and effect and secured by the original…
   • § 9505 Any action or determination made necessary by reason of state or federal constitutional requirements or otherwise, or any action or determination which is…
   • § 9506 Any city may retain or employ any qualified person to perform any work or perform any services provided for or authorized by this division or in connection…
   • § 9507 The incidental expenses of any refunding and reassessment authorized by this division, including the designated costs of issuing the refunding bonds, as…
   • § 9508 Subject to Section 9509, when proceedings are commenced under this division, only this division shall apply.
   • § 9509 A reassessment proceeding under this division may be conducted concurrently with proceedings under any other applicable reassessment law and all resolutions,…
   • § 9510 Contributions and appropriations may be made at the times and in the manner provided in Article 2 (commencing with Section 9125) of Chapter 3 of Division 11,…
   • § 9511 This division does not affect any other act or acts now existing or which may hereafter be passed covering the same subject matter, nor apply to any…
   • § 9512 The remedies provided for the enforcement of any reassessment levied under the provisions of this division are not exclusive and additional remedies may be…
   • § 9513 The curative clauses of this division are cumulative and each of them is to be given full force and effect.
   • § 9514 This division and all of its provisions shall be liberally construed in order that its purposes may be made effective.
   • § 9515 In the event of a foreclosure or action to quiet title, process shall be served upon the same person or persons as in other cases of suits against the city.
   • § 9516 The purchaser, whether at a tax collector’s sale or at a resale by the city in the event of the city having become the purchaser, or at a foreclosure sale by…
   • § 9517 Unless the particular provision or the context otherwise requires, the definitions contained in the Improvement Bond Act of 1915 shall govern the construction…
   • § 9518 Any surplus remaining in the improvement fund for the assessment district, after completion of the improvements and the payment of all claims, may be used as a…
   • § 9519 Any balance remaining in the special reserve fund for the bonds to be refunded at the time of the issuance of the refunding bonds shall be used to retire the…
   • § 9519.5 Sections 8571.3 and 8769 are applicable to this division.
2. CHAPTER 2. Reassessment Proceedings §§ 9520–9548 · 30 sections

   • § 9520 Except as it may otherwise have determined pursuant to Section 8571.3, the legislative body of any city which has issued bonds which are outstanding under the…
   • § 9521 Two or more issues of bonds issued under the act may be refunded in one proceeding under this division and only one issue of refunding bonds issued therefor,…
   • § 9522 The proceedings for refunding two or more issues of bonds shall follow as nearly as may be the procedure for the refunding of one issue, with the modifications…
   • § 9523 The resolution referred to in Section 9520 shall direct a qualified person retained or employed pursuant to Section 9506 to prepare and file with the city…
   • § 9524 When the report provided for in Section 9523 is filed with the clerk, the clerk shall present it to the legislative body for consideration. The legislative…
   • § 9525 (a) If the legislative body finds that all of the following conditions are satisfied, it may approve and confirm the report prepared pursuant to Section 9523…
   • § 9526 If the legislative body is unable to make the findings required by Section 9525, it may proceed with refunding and reassessment by preliminarily approving the…
   • § 9527 Notice of the hearing shall be given by publication, pursuant to Section 6062a of the Government Code, in a newspaper of general circulation published in the…
   • § 9528 Any person interested in any of the property to be reassessed may file a written protest against the proposed refunding or the amount reassessed against that…
   • § 9529 Any person who files a protest shall have full opportunity to be heard thereon.
   • § 9530 At the time and place fixed for the hearing, the legislative body shall hear any complaints or objections that may be made concerning the proposed refunding,…
   • § 9531 At the hearing, no objections to the regularity of the proceedings with reference to the making of the improvements or the validity or the amount of any…
   • § 9532 The determination of the legislative body upon all objections or protests shall be final and conclusive.
   • § 9533 The hearing may be continued from time to time by order entered in the minutes, but shall be concluded within 30 days from the date originally fixed.
   • § 9534 At the hearing, the legislative body may review and correct the amount of any reassessments upon any parcel of land.
   • § 9534.5 If the legislative body finds that protests against the proposed refunding or the proposed reassessments are signed by the owners of more than one-half of the…
   • § 9535 At the conclusion of the hearing, in the absence of a majority protest pursuant to Section 9534.5, the report and the reassessment as originally made, or as…
   • § 9536 When the reassessment, as made or as reviewed and corrected, has been confirmed by the legislative body, it shall be recorded in the office of the…
   • § 9537 When recorded with the superintendent of streets and upon compliance with the provisions of Division 4.5 (commencing with Section 3100), the reassessment shall…
   • § 9538 Except as otherwise provided in this section and in Sections 9546, 9547, and 9548, assessments originally levied, and all penalties and interest accrued…
   • § 9539 Except as provided in Section 9548, the lien of the reassessments shall be given superiority and priority as of the date that the original assessments became a…
   • § 9540 Reassessments and each installment thereof and the interest and penalties thereon shall be a lien against the parcels of land on which made until the same are…
   • § 9541 Unmatured installments, interest, and penalties on unpaid reassessments shall not be deemed to be within the terms of any general warranty of title as to any…
   • § 9542 When refunding bonds are issued, the reassessments and any reassessments which may be issued thereon or in lieu thereof, together with interest thereon, shall…
   • § 9543 A copy of the resolution of the legislative body confirming the reassessments upon the security of which the refunding bonds are issued shall be filed in the…
   • § 9544 The auditor shall keep a record in his office showing the several installments of principal and interest on the reassessments which are to be collected in each…
   • § 9545 The reassessments and interest thereon shall be collected on the assessment roll and are subject to reassessment, amendment, and prepayment, and are otherwise…
   • § 9546 The legislative body of any city which has issued bonds which are outstanding under this division, the original authorized aggregate principal amount of which…
   • § 9547 If the legislative body elects to proceed pursuant to Section 9546, Sections 9523 to 9545, inclusive, shall apply to the reassessments to be levied. Upon…
   • § 9548 If the legislative body elects to proceed pursuant to Section 9546, upon confirmation of the reassessment as provided in Section 9535 and in compliance with…
3. CHAPTER 3. Issuance of Refunding Bonds §§ 9600–9622 · 24 sections

   • § 9600 In this chapter, the following terms are used with the following meanings: (a) “Costs of issuing refunding bonds” means those of the following costs and…
   • § 9601 The legislative body shall provide for the issuance of the refunding bonds by resolution.
   • § 9601.5 Section 8769 shall apply to bonds issued pursuant to this division in the County of San Bernardino.
   • § 9602 The refunding bonds shall be issued in a principal amount equal to the total principal amount of the reassessment as approved and confirmed by the legislative…
   • § 9603 The refunding bonds shall represent and be secured by the reassessments and any later reassessments which may be levied or issued upon the same property in…
   • § 9604 Refunding bonds issued pursuant to this division shall comply with the following requirements which shall be set forth in the resolution adopted pursuant to…
   • § 9605 All of the refunding bonds shall mature on September 2.
   • § 9606 In no event shall the first maturity of any refunding bonds be earlier than the second day of September next succeeding 12 months after the date of the bonds.
   • § 9607 The last maturity of any refunding bonds shall not exceed 39 years from the second day of September next succeeding 12 months after the date of the bonds.
   • § 9607.5 For refunding bonds issued in the County of San Bernardino, the last maturity of any of these bonds shall not exceed the longest maturity currently authorized…
   • § 9608 The rate of interest on refunding bonds shall not exceed the rate set forth in the resolution of intention adopted pursuant to Section 9520.
   • § 9609 The interest on refunding bonds shall be payable on March 2, and September 2, respectively, of each year.
   • § 9610 The first interest payment on the bonds shall be March 2 next preceding the second day of September next succeeding 12 months after the date of the bonds,…
   • § 9611 Refunding bonds and the interest thereon shall be paid at the office of the treasurer or at any other place as is set forth in the bonds.
   • § 9612 Each bond shall be conclusive evidence of the regularity of all proceedings for the levy of reassessments and the issuance of the refunding bonds and of the…
   • § 9613 Refunding bonds issued pursuant to this chapter may be exchanged for the bonds to be refunded on any basis the legislative body determines is for the benefit…
   • § 9614 The designated costs of issuing the refunding bonds may be paid by the purchaser of the refunding bonds or may be paid from any other legally available source,…
   • § 9615 Any proceeds of sale of any refunding bonds may be deposited in escrow or trust with any bank or trust company within or without the state, or both within and…
   • § 9616 The proceeds and investments in escrow or trust shall be in an amount at the time of issuance of such refunding bonds which is certified by a certified public…
   • § 9617 Following the issuance of any refunding bonds pursuant to this article, the legislative body of the city shall provide for the payment of principal and…
   • § 9618 Any outstanding refunded bonds which have been exchanged for refunding bonds shall be canceled by the city treasurer.
   • § 9619 The treasurer shall keep a register in his or her office which shall show the series, number, date, amount, rate of interest, and registered owner of each…
   • § 9620 The legislative body may provide, in the resolution authorizing the issuance of the refunding bonds, for the establishment from the proceeds of the sale of the…
   • § 9622 Notwithstanding any other provision of this part, bonds originally issued as variable rate bonds pursuant to Part 6.5 (commencing with Section 8660) may be…
4. CHAPTER 4. Curation and Validation §§ 9700–9707 · 8 sections

   • § 9700 The validity of any refunding bonds issued under this division shall not be contested in any action, suit, or proceeding unless the action or proceeding is…
   • § 9701 After the reassessment has been confirmed, it shall not be contested in any way other than at the time and in the manner specified in this division, and in any…
   • § 9702 No defect in the form of any reassessment levied pursuant to this division and no statutory defect in any of the proceedings relating to the reassessment and…
   • § 9703 No bond, reassessment, or installment thereof, or of the interest or penalties thereon, and no certificate of sale or deed shall be held invalid for error in…
   • § 9704 An action to determine the validity of a reassessment and of any refunding bonds issued or to be issued thereon may be brought pursuant to Chapter 9…
   • § 9705 If any reassessment or any refunding bond is held illegal or invalid in any action or proceeding upon any ground which would apply to the entire reassessment…
   • § 9706 If refunding bonds are invalidated or held to be illegal, all of the provisions of the act shall apply to the original bonds and to any bonds issued under…
   • § 9707 No action or proceeding to set aside, cancel, avoid, annul, or correct any reassessment levied under this division, or to review any of the proceedings, acts,…