ARTICLE 4. Bonds [31140. - 31175.]

Article 4 added by Stats. 1968, Ch. 923.

§§ 31140–31175 · 36 sections

§ 31140 Whenever the authority determines that it is for the best interests of the public highways in the state that the toll tunnel be constructed and operated by the…
§ 31141 All bonds authorized pursuant to this chapter shall be issued in the name of the authority and shall constitute obligations of the authority only. Such bonds…
§ 31142 The authority shall determine the form, conditions, and denominations of all bonds, the dates which the bonds to be sold shall bear, and the interest rate…
§ 31143 The authority may provide for the retirement of the bonds at any time or times prior to their maturity, in such manner and upon payment of such premiums as may…
§ 31144 All bonds shall be signed by the treasurer and countersigned by the chairman. The signatures of the treasurer and the chairman may be by facsimile, but said…
§ 31145 All revenue bonds authorized pursuant to this chapter may be issued and sold by the authority from time to time and in such amounts as the authority deems…
§ 31146 Bonds authorized pursuant to this chapter may be sold below the par or face value thereof, but the sale price shall not be less than that which will yield the…
§ 31147 Successive issues of bonds within the limits of the original authorization for the issuance of bonds for the acquisition or construction of the toll tunnel…
§ 31148 All bonds issued and sold pursuant to this chapter shall be sold on sealed proposals to the highest and best bidder after such advertising for bids as the…
§ 31149 Temporary or interim bonds, certificates, or receipts, signed by the treasurer, of any denomination whatever and with or without coupons attached thereto, may…
§ 31150 The purchase price of all bonds issued pursuant to this chapter shall be paid to the treasurer for the account of the authority.
§ 31151 The authority may include in the proceedings authorizing the issuance of bonds any provisions not inconsistent with this chapter which limit, restrict, or…
§ 31152 The authority may provide in the proceedings authorizing the issuance of bonds for the setting up of one or more reserve funds out of the proceeds of the bonds…
§ 31153 The authority may provide in the proceedings authorizing the issuance of bonds, or may otherwise agree with the purchasers of bonds, regarding the deposit of…
§ 31154 The authority may provide in the proceedings authorizing the issuance of bonds for the carrying of insurance as authorized by this chapter, and the purchase…
§ 31155 Whenever any bonds are to be issued pursuant to this chapter, the authority, from time to time, upon such terms and conditions in all respects as it approves…
§ 31156 All benefits conferred or obligations imposed by this chapter or by any other law with respect to making provision for the payment, whether from tolls or other…
§ 31157 The authority may contract loans and borrow money through the sale of bonds of the same character as those authorized pursuant to this chapter, from the United…
§ 31158 If a bond issue for the acquisition or construction of the toll tunnel is authorized and sold in whole or in part and the authority deems it advisable and…
§ 31159 If the outstanding bonds issued for the acquisition or construction of the toll tunnel as originally designed are, at the time of issuance of the additional…
§ 31160 Out of the proceeds derived from the sale of any such additional bonds there shall be set aside an amount of money sufficient to retire such outstanding bonds…
§ 31161 All provisions of this chapter apply with like force and effect to the issuance of any bonds of the new authorized issue, and the holders thereof are…
§ 31162 Whenever bonds of any kind have been issued and are outstanding pursuant to this chapter, the authority may from time to time or at one time issue and sell or…
§ 31163 Funding or refunding bonds shall not constitute a debt or obligation of the state or of El Dorado County, but shall be bonds of the authority of the same…
§ 31164 Except as otherwise provided in this article, and except as modified by the express terms of the funding or refunding bonds or the proceedings authorizing…
§ 31165 Any funding or refunding bonds may be issued in a principal amount sufficient to provide funds for: (a) The payment of the bonds to be funded or refunded…
§ 31166 All bonds issued pursuant to this chapter are negotiable instruments under the law merchant.
§ 31167 All bonds issued pursuant to this chapter and the income therefrom are at all times exempt from taxation, except for transfer, inheritance, and estate taxes.
§ 31168 Bonds issued pursuant to this chapter shall not constitute or be a debt, liability, or obligation of the state or El Dorado County. The payment of both…
§ 31169 The bond redemption and interest payments constitute a first direct and exclusive charge and lien on all tolls and other revenues, and interest thereon, and…
§ 31170 While any bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority shall not be diminished or impaired in any manner…
§ 31171 The holder of any bond may by mandamus or other appropriate proceeding compel the performance of any of the duties imposed upon the authority or its officers,…
§ 31172 The Commissioner of Financial Institutions may investigate and ascertain the status or sufficiency as investments for savings banks in this state of any such…
§ 31173 All bonds issued by the authority pursuant to this chapter, and which have been first certified by the Commissioner of Financial Institutions, are legal…
§ 31174 Any money or funds which may by law be invested in bonds of the state, cities, counties, or school districts in the state may be invested in the bonds issued…
§ 31175 Whenever any bonds of the state, or of any city, county, or school district in the state, may by law be used as security for the performance of any act or the…