CHAPTER 11. Issuance of Refunding Bonds [9400. - 9417.]
Chapter 11 added by Stats. 1951, Ch. 463.
§§ 9400–9417 · 18 sections
- § 9400 The legislative body shall provide for the issuance of the refunding bonds.
- § 9401 In no event shall refunding bonds be issued for more than the par value of the outstanding bonds and the due and unpaid interest coupons to be refunded.
- § 9402 The refunding bonds shall represent and be secured by said reassessments and any later reassessments which may be levied or issued upon the same property in…
- § 9403 Refunding bonds issued pursuant to this division shall comply with the following requirements: (a) Bonds shall be in such denominations as the legislative body…
- § 9404 All of the refunding bonds shall mature on July 2d.
- § 9405 In no event shall the first maturity of any refunding bonds be earlier than the second day of July next succeeding 10 months after the date of the bonds.
- § 9406 The last maturity of any refunding bonds shall not exceed 19 years from the second day of July next succeeding 10 months after the date of said bonds.
- § 9407 The rate of interest on refunding bonds shall not exceed the rate of interest on the outstanding bonds.
- § 9408 The interest on refunding bonds shall be payable on January 2d and July 2d, respectively, of each year.
- § 9409 The first interest payment on such bonds shall in every case be January 2d next preceding the second day of July next succeeding 10 months after the date of…
- § 9410 Refunding bonds and the interest thereon shall be paid at the office of the treasurer.
- § 9411 Refunding bonds may be issued in substantially the following form: United States of America State of California No. City of $ Refunding Improvement Bond U
- § 9412 Each bond shall be conclusive evidence of the regularity of all proceedings for the issuance of refunding bonds and of the validity of said bonds and of all…
- § 9413 The refunding bonds shall be delivered to the holders of the outstanding bonds in accordance with the contract with such bondholders.
- § 9414 When the refunding bonds have been exchanged for the outstanding bonds, the outstanding bonds, except as to any sum payable from assessments which property…
- § 9415 If the city has appropriated money to assist in the refunding, such money shall be paid to the holders of outstanding bonds in accordance with the contract…
- § 9416 The validity of any refunding bonds issued under this division shall not be contested in any action, suit or proceeding unless such action or proceeding shall…
- § 9417 The treasurer shall keep a register in his office which shall show the series, number, date, amount, rate of interest, and last known holder of each bond and…