PART 5. IMPROVEMENT BONDS [6400. - 6640.]
Part 5 added by Stats. 1941, Ch. 79.
§§ 6400–6640 · 119 sections
CHAPTER 1. Determination to Issue Bonds §§ 6400–6405 · 5 sections
- § 6400 The legislative body may determine that serial bonds shall be issued in the manner and form provided in this part to represent assessments of one hundred fifty…
- § 6402 If the amount of the unpaid assessment upon any lot or parcel of land is less than one hundred fifty dollars ($150), the assessment shall be collected as…
- § 6403 When the legislative body determines that serial bonds shall be issued to represent the expenses of any proposed work under this division, it shall so declare…
- § 6404 Notwithstanding any other provision in this division, the legislative body may sell to any local, State or National public agency or authority authorized to…
- § 6405 The legislative body of any city may contract with a specially qualified person, firm or corporation to act as fiscal agent. Such contracts may authorize the…
CHAPTER 2. Issuance of Bonds §§ 6420–6427 · 8 sections
- § 6420 After the full expiration of 30 days from the date of the recordation of the warrant, and after the filing of the written statement of all payments received by…
- § 6421 If any person, or his authorized agent, shall at any time before the thirty-first day after the recordation of the warrant present to the treasurer the…
- § 6422 The treasurer shall upon the filing of the list, make out, sign, and issue to the contractor, or other person entitled to the proceeds of the warrant and…
- § 6423 If a lot or parcel of land is described upon the assessment and diagram by its number or block, or both, and is also designated by its number or block, or…
- § 6424 The bonds and interest thereon shall be paid at the office of the treasurer, who shall keep a fund designated by the name of the bonds, into which he shall…
- § 6425 The treasurer shall keep a register in his office, showing the series, number, date, amount, rate of interest, payee and indorsees of each bond, and the number…
- § 6426 If any officer whose signature or countersignature appears on any bond or coupon ceases to be such officer before delivery of the bonds to the purchaser…
- § 6427 Bonds issued pursuant to this part shall by their issuance be conclusive evidence of the regularity of all proceedings under this division leading up to such…
CHAPTER 3. Payments on Assessments at Bond §§ 6440–6449 · 11 sections
- § 6440 After the street superintendent files his list of unpaid assessments with the treasurer, the principal of each unpaid assessment shall thereafter become due…
- § 6441 The first interest payment on the unpaid assessment shall be payable to the treasurer on the April 15th next succeeding the March 1st or the October 15th next…
- § 6441.1 If a remittance to cover a payment of interest or interest and principal to be made to the treasurer prior to a certain date and hour or prior to a certain…
- § 6442 If any installment of the principal of the unpaid assessment or of interest thereon is not paid to the treasurer on or before the due date of June 1st or…
- § 6443 At least 15 days before each respective 15th day of April and October, until the assessment is paid in full, the treasurer shall mail, postage prepaid, to each…
- § 6444 The treasurer may accept payments of installments of interest unaccompanied by payments of installments of principal which are due. The acceptance of such…
- § 6445 The treasurer shall, in addition to his other duties, keep a record of all bonds issued by him, of all payments on the bonds with the dates thereof and of all…
- § 6446 The assessment shall be a lien upon the property affected thereby, with priority as fixed in Section 5373, until the bond issued to represent the assessment…
- § 6447 The owner of or any person interested in any lot or parcel of land upon which a bond has been issued under the terms of this division may at any time before…
- § 6448 When all payments on a bond are made to the treasurer, he shall enter the same in his record of the bond and the lien of the assessment shall cease. The…
- § 6449 Whenever a school district acquires property subject to a bond or bonds issued under the terms of this division for unpaid assessments against said property,…
CHAPTER 4. Form and Content of Bonds §§ 6460–6467.3 · 14 sections
- § 6460 Form of bond. The bond shall be substantially in the following form: Improvement Bond Series (designating it), in the City (or County) of (naming it) $_____No.…
- § 6460.1 Bonds issued pursuant to Chapter 14.5 (commencing with Section 5330) to represent an assessment against a possessory interest created by a lease in…
- § 6460.5 The bond shall be manually signed by the treasurer of the city or county, or a facsimile signature may be reproduced thereon. A facsimile signature of the…
- § 6461 The bonds shall: (a) Be payable to the party to whom they issue, or to order. (b) Be serial bonds. (c) Bear interest at the rate specified in the resolution of…
- § 6462 The bonds shall extend over a period not exceeding 24 years from the second day of January next succeeding the next September 1st following their date.
- § 6462.1 The legislative body conducting the proceedings may provide for a classification of assessments into different terms of maturity so that some assessments may…
- § 6463 The interest shall be payable semiannually, by coupon, on the second days of January and July, respectively, of each year after the date of the bonds. The…
- § 6464 The legislative body conducting the proceedings may elect, in the resolution of intention, to have the redemption provisions of said bond provide a premium of…
- § 6465 Said bonds may be made payable to the contractor or to his last assignee as shown by the assignment filed with and approved by the superintendent of streets.…
- § 6466 The provisions of Articles 2 (commencing with Section 53430) and 3 (commencing with Section 53460) of Chapter 3, Part 1, Division 2, Title 5 of the Government…
- § 6467 In the event there are unpaid assessments levied against public property which are payable as provided in Section 5302.5 of this code, the treasurer shall,…
- § 6467.1 The interest upon the certificate provided in Section 6467 shall be payable semiannually, by coupon, on the second day of December and June, respectively, of…
- § 6467.2 The certificates shall have annual principal coupons attached to them payable in annual order, the first of which shall be payable not later than June 2,…
- § 6467.3 The certificate shall be payable at the office of the treasurer of the city conducting the proceedings upon presentation of the principal and interest coupons.…
CHAPTER 4.5. Issuance of Bonds to Represent Unpaid Assessments Against Publicly Owned Property §§ 6468–6468.8 · 9 sections
- § 6468 In addition to the method of collecting unpaid assessments against publicly owned property in use in the performance of a public function, as provided in…
- § 6468.1 An annual proportion of the aggregate principal sum of bonds issued pursuant to the provisions of this chapter shall be payable on the second day of June of…
- § 6468.2 The legislative body may by resolution establish the denomination of the bonds, the amount to mature each fiscal year and provide for the issuance and sale of…
- § 6468.3 The final maturity of the bonds shall not exceed 24 years from that second day of June next succeeding this date.
- § 6468.4 The treasurer shall keep a separate redemption fund, properly designated, into which he shall place all sums received by him from the collection of the…
- § 6468.5 Sections 5302.6, 8653, 8654, 8655, 8670, 8672, 8673 and 8851 of this code are applicable to bonds issued under the provisions of this chapter.
- § 6468.6 The bonds shall be payable at the office of the treasurer of the city conducting the proceedings. At least 30 days prior to the first day of July of each and…
- § 6468.7 In the event that the public entity owning the property against which the assessment has been levied, and which is represented by the bonds authorized in this…
- § 6468.8 The legislative body conducting the proceedings may elect in the resolution of intention to provide that the bonds issued to represent assessments against…
CHAPTER 5. Division of Land and Bond §§ 6480–6488 · 9 sections
- § 6480 If any lot or parcel of land for which a bond has been issued is divided into two or more separate lots or parcels of land, including separate condominium…
- § 6481 When it is desired that new bonds be issued, an application therefor in writing signed by the owner of any interest in any of the lots or parcels, including…
- § 6482 Upon receipt of the application and fee the street superintendent shall apportion to each separate part of the original lot or parcel of land the proportionate…
- § 6483 When the apportionment has been made an application signed by all persons owning an interest in the original lot or parcel or lots or parcels of land and by…
- § 6484 When the treasurer has ascertained that the application is signed by all the necessary persons he or she shall so advise the street superintendent. The street…
- § 6485 The treasurer shall add to each apportioned amount a sum equal to 5 percent thereof but in no event more than ten dollars ($10) and shall make and sign a new…
- § 6486 The bond shall be payable in installments at the respective dates of the payment of principal and interest on the existing bond, the number of such…
- § 6487 No new bond shall be issued when the apportioned amount is less than fifty dollars ($50). If it is less, the apportioned amount shall be paid to the treasurer…
- § 6488 Upon the surrender of the existing bond the treasurer shall deliver to the bondholder or his agent or assigns the bonds issued for such apportioned assessments…
CHAPTER 5.5. Alternative Procedure for Division of Land and Bond §§ 6490–6494 · 9 sections
- § 6490 This chapter provides an alternative to the procedure for division of land and bond set out in Chapter 5 (commencing with Section 6480).
- § 6490.5 The legislative body may provide in the resolution of intention, along with its determination to issue bonds, that the bonds shall be divisible pursuant to…
- § 6491 (a) If any lot or parcel of land upon which there is an unpaid assessment represented by bonds issued under this division and to which this chapter is…
- § 6491.5 Upon receipt of the application and fee, the street superintendent shall determine, or cause to be determined, an apportionment of the unpaid assessment to…
- § 6492 After the apportionment has been determined pursuant to Section 6491.5, an application signed by all persons owning an interest in the original lot or parcel…
- § 6492.5 (a) The clerk of the legislative body shall send a notice, by certified or registered mail, to the registered holder of any outstanding bond secured by the…
- § 6493 (a) At the time and place set for the hearing pursuant to subdivision (b) of Section 6492.5, and after hearing all protests, the legislative body may determine…
- § 6493.5 (a) If the clerk of the legislative body ascertains that the application has been signed by all of the necessary persons, and that no request for a hearing has…
- § 6494 If a city is the legislative body proceeding pursuant to this chapter and collections upon the assessments are made by county officials, the street…
CHAPTER 6. Default and Sale for Delinquency §§ 6500–6518 · 24 sections
- § 6500 (a) Whenever payment upon either the principal or the interest of any bond is not made to the bondholder when the coupon therefor is due, the holder of the…
- § 6501 The treasurer shall mail a notice of sale to the owner of any property to be sold for nonpayment of either principal or interest upon any delinquent bond. The…
- § 6501.1 (a) If there is surplus money remaining from the sale after payment of the amount due on the bond, plus interest, penalties, and costs of sale, the treasurer…
- § 6502 No sale of property shall be made pursuant to this chapter unless the notices are sent pursuant to Sections 6500, 6501, 6505, and 6505.2. The failure of the…
- § 6503 After the expiration of six months from the time of mailing the notice and upon payment by the holder of the bond to the treasurer of the amounts specified in…
- § 6504 The notice of sale shall be in substantially (filling in all blanks) the following form: “Notice of Sale of Property Delinquent for Nonpayment of Bond No.__,…
- § 6505 (a) The day specified in the notice of sale shall not be less than 45 days from the date of the first publication of the notice. (b) At least 30 days prior to…
- § 6505.1 The treasurer shall be under no obligation to publish or mail notice of sale as provided in Sections 6503, 6504, 6505, and 6505.2 unless the bondholder…
- § 6505.2 (a) Not less than 45 days nor more than 60 days prior to the date of sale, the treasurer shall send notice by registered mail to the last known mailing…
- § 6505.4 For the purpose of giving notice, as required by Section 6505.2, parties of interest are all of the following: (a) Lienholders of record prior to the issuance…
- § 6506 Any affidavit of publication setting forth a copy of the publication and stating that the publication was made in the newspaper named on specified dates shall…
- § 6507 The treasurer shall collect the sum of seven dollars ($7) for the issuance of the certificate of sale, which sum shall belong to and be subject to the…
- § 6508 If at any time prior to the sale any person interested in the lot or parcel of land described in the notice of sale pays the whole amount of the unpaid…
- § 6508.2 Prior to the sale of any owner-occupied residential property, the treasurer or his or her designee shall, in person, make every reasonable effort to meet with…
- § 6509 (a) If such payment is not made, the sale shall be made as advertised, and the lot or parcel described in the bond shall be sold to the purchaser who will pay…
- § 6510 If through error or otherwise the total amount for which the sale is made is less than that required by the provisions of this chapter, and the holder of the…
- § 6511 The treasurer, before delivering any certificate of sale, shall enter the following data in a book kept in his office for that purpose: (a) The date, number,…
- § 6512 Such book shall be open to public inspection during office hours when not in actual use.
- § 6513 The treasurer shall issue for each sale an original and a duplicate certificate of sale containing: (a) The date, number and series of the bond under which the…
- § 6514 The treasurer shall deliver the original certificate of sale to the purchaser and shall record the duplicate in the office of the recorder of the county in…
- § 6515 At any time after its delivery to him the legal holder of the certificate of sale may pay any general taxes, street improvement assessments, or any other tax…
- § 6516 Upon production by the holder of the certificate of sale of the official receipt for the amounts so paid by him, the treasurer shall make an indorsement upon…
- § 6517 Immediately on the sale, the purchaser shall become vested with a lien on the property sold to him, to the extent of his bid. He may only be divested of that…
- § 6518 The holder of a certificate of sale, upon assignment of such certificate shall immediately notify the treasurer thereof, giving the name and address of the…
CHAPTER 7. Redemption of Delinquent Property §§ 6530–6532 · 4 sections
- § 6530 A redemption of the property sold may be made by the owner or any party in interest within 12 months from the date of purchase, or at any time prior to the…
- § 6530.5 The treasurer, within 10 days of the issuance of the certificate of sale, shall mail a notice to the owner of the property sold pursuant to this chapter. The…
- § 6531 Redemption can be made only by the payment to the treasurer of the following, together with interest at the rate of 1 percent a month from the date of sale:…
- § 6532 When the redemption is made to the treasurer he shall mark the word: “Redeemed,” the date and by whom redeemed on the margin of the book where the entry of the…
CHAPTER 8. Conveyance of Unredeemed Property §§ 6550–6556 · 6 sections
- § 6550 In order to obtain a deed, the purchaser of the property or his assignees shall, 60 days prior to the expiration of the time of redemption, or 60 days before…
- § 6551 The owner of the property shall have the right of redemption until such notice is given and the deed applied for, upon the payment of the fees, penalties and…
- § 6552 No deed to the property sold shall be issued by the treasurer to the purchaser until the treasurer has filed for the record an affidavit showing that the…
- § 6554 If the property is not redeemed within the time allowed the treasurer shall upon application of the purchaser or his assignee make a deed to the property,…
- § 6555 The deed of the treasurer, when duly acknowledged or proved, is primary evidence of the regularity of all proceedings theretofore had, and conveys to the…
- § 6556 Notwithstanding any other provision of law, if the purchaser of owner-occupied residential property at a sale under Section 6509, or an assignee or transferee…
CHAPTER 9. Contesting Validity of Sales and Deeds for Delinquency §§ 6570–6572 · 3 sections
- § 6570 Within 60 days after the sale of the property for delinquency, the purchaser may send to the person to whom the property is assessed for purposes of taxation…
- § 6571 Any action, suit, or proceeding attacking or contesting the validity of any deed issued under the provisions of this division, or the validity of the…
- § 6572 If any sale of lands for delinquency in the payment of principal or interest of any bond is held illegal or invalid, or any deed issued to the purchaser at any…
CHAPTER 11. Foreclosure of Bond Lien §§ 6610–6623 · 13 sections
- § 6610 As a separate, distinct and cumulative remedy, the holder of any bond upon which any payment either upon the principal or of the interest has become delinquent…
- § 6611 The action may be brought also at any time following the expiration of 30 days after the service of personal demand for payment upon the owner of the premises.…
- § 6612 The action shall be brought in the superior court of the county in which the proceedings were initiated and if the owner of the lot or parcel of land covered…
- § 6613 The complaint in the action shall be sufficient if it sets forth a true copy of the bond and makes appropriate allegations regarding the payments made upon the…
- § 6614 The bond, together with proof, either orally by the treasurer or by a certificate signed by him showing the nonpayment of any of the principal or interest upon…
- § 6615 The court may adjudge and decree a lien against the lot or parcel of land covered by the bond and cause the premises to be sold as in other cases of the sale…
- § 6616 The plaintiff in the action may also recover the actual cost of any abstract or report of search of title procured in good faith, in order to determine…
- § 6618 The action shall be governed and regulated by the provisions of this chapter and by the other provisions of law which are not in conflict herewith.
- § 6619 A written notice of the pendency of any action for recovery on a bond shall be filed with the treasurer. After the filing of such notice the treasurer shall…
- § 6620 If an action is brought for recovery on any bond prior to the time specified in this chapter, the plaintiff shall not recover in such action and the defendant…
- § 6621 Whenever a bond is foreclosed pursuant to this chapter, the decree of foreclosure shall direct the clerk of the court to deliver the bond sued upon to the…
- § 6622 The treasurer shall cancel the bond upon the records and deliver to the clerk of the court a receipt substantially in the following form: “Certificate of…
- § 6623 The clerk of the court shall enter the judgment or decree of foreclosure in the action upon the delivery of the certificate of cancellation.
CHAPTER 12. Reinstatement of Bonds §§ 6630–6632 · 3 sections
- § 6630 Notwithstanding any other provisions of this part, any person owning or having any interest in any property may at any time after commencement of an action or…
- § 6631 Notwithstanding the provisions of Section 6619, the treasurer shall reinstate any delinquent bond upon which an action or proceeding for sale or foreclosure…
- § 6632 The holder of any bond so reinstated shall be entitled to all reinstatement payments made pursuant to Section 6631, adjusted for any difference between the…
CHAPTER 13. Refunding of Bonds § 6640 · 1 section
- § 6640 Bonds issued pursuant to this part may be refunded pursuant to the procedures in Division 11.5 (commencing with Section 9500).