CHAPTER 13. Issuance of District Bonds and Disposition of Surplus Proceeds [27240. - 27250.]

Chapter 13 added by Stats. 1943, Ch. 286.

§§ 27240–27250 · 10 sections

• § 27240 At or before the time of issuing any bonds the board shall estimate: (a) The total cost of constructing or acquiring or both the works for which the bonds are…
• § 27241 If the estimated amount of bonds required to pay the estimated cost and interest exceeds the total amount of bonds theretofore authorized, the board may submit…
• § 27242 Bonds may be issued in accordance with the estimate in such amounts not exceeding the total amount of bonds authorized as will produce a sum sufficient to pay…
• § 27243 Prior to the preparation of definitive bonds the board may issue temporary bonds of any denomination and with or without coupons and subject to the same…
• § 27244 If, after any bond has been duly signed by any properly authorized officer, that officer ceases to hold office, the bond may nevertheless be delivered with the…
• § 27245 The district bonds may be made registerable as to principal alone or as to both principal and interest under such terms and conditions as may be fixed by the…
• § 27247 If after paying the cost of constructing or acquiring or both the works and interest on the bonds during the actual period of construction and for a period of…
• § 27248 The money in the reserve interest fund shall be deposited in the same manner as other funds of the district or invested in securities which are legal…
• § 27249 If the surplus from the proceeds of the bonds exceeds one year’s interest on the bonds, the balance shall be placed in the fund for the payment of the…
• § 27250 A district formed under this part may issue either general obligation bonds or revenue bonds secured solely by tolls.