CHAPTER 18. Funding Bonds [25430. - 25450.]
Chapter 18 added by Stats. 1943, Ch. 284.
§§ 25430–25450 · 20 sections
- § 25430 As a separate and cumulative method of financing, the board of directors of the district may issue funding bonds to cover the costs and expenses of the whole…
- § 25431 The provisions of this chapter relating to the issuance of funding bonds shall be cumulative and shall not affect any of the other provisions or sections of…
- § 25432 If the board of directors propose to issue funding bonds, they shall first adopt a resolution setting forth their intention so to do, and the resolution shall…
- § 25433 Upon the adoption of the resolution of intention to issue funding bonds, the secretary shall cause a notice of the time and place of hearing to be published…
- § 25434 The time fixed for the hearing shall not be less than 15 days after the completion of the required publication. Not less than 30 days prior to the time fixed…
- § 25435 All persons interested may appear at the hearing and they may set forth in writing any objections they may have to the issuance of the funding bonds or to the…
- § 25436 The board of directors shall hear and determine all objections presented at the hearing. The board may alter the boundaries of the proposed funding district or…
- § 25437 All decisions, findings and determinations of the board of directors made upon notice and hearing shall, in the absence of actual fraud, be final and…
- § 25438 If at the hearing, the owners of more than 25 per cent in area of the property within any proposed funding district object in writing to the issuance of…
- § 25439 Following the hearing the board of directors shall, if it determines to issue funding bonds, cause its findings in relation thereto to be transmitted to the…
- § 25440 Funding bonds issued pursuant to the provisions of this chapter shall be in substantially the following form (filling in blanks as appropriate): FUNDING BOND…
- § 25441 Funding bonds shall be dated as of the date of the resolution or order of the board of directors authorizing their issuance.
- § 25442 The board of directors may use any available moneys of the district, not already allocated to some other purpose, for the payment of any interest or principal…
- § 25443 All funding bonds shall be signed by the treasurer of the district, attested by the secretary, and shall have the official seal of the district affixed…
- § 25445 All funding bonds shall be serial in character and approximately an even proportion of the total amount of each issue shall be payable annually. The amount of…
- § 25446 The funding bonds shall be issued by the board of directors at such time and manner and in such amounts as may be required to meet the demands of the district,…
- § 25447 In each district in which funding bonds have been issued there is hereby created a special fund to be designated “Joint Highway District No. ____ of the State…
- § 25448 The treasurer of the district shall annually before the fifteenth day of August transmit to the several boards of supervisors within the funding district, a…
- § 25449 The special assessment taxes levied for the payment of funding bonds shall be independent of and distinct from any other levies authorized by this part and…
- § 25450 It shall be the duty of the board of supervisors of each county within the district to annually cause to be levied upon the lands only, exclusive of…