CHAPTER 3. Bonds, Acquisitions and Improvements

Chapter 3 added by Stats. 1953, Ch. 192.

§§ 35402–35432 · 36 sections

§ 35402 The legislative body may by ordinance, resolution, or indenture provide for the issuance of bonds of the district in an amount not exceeding the amount…
§ 35402.2 If at any time the legislative body finds that the proceeds of the bonds first issued will be insufficient to make all of the acquisitions and improvements…
§ 35402.3 If at any time, either before or after issuing bonds, the legislative body so determines, it may at one time or from time to time add to, eliminate, change or…
§ 35402.4 At any time prior to the issuance of bonds, the legislative body may change the boundaries of the district after notice and hearing in the same manner as…
§ 35403 The legislative body shall describe the form of bonds and of the interest coupons to be attached thereto.
§ 35404 The bonds shall all mature within 35 years after the date thereof and shall be payable at the times and at the place to be fixed by the legislative body and…
§ 35405 The legislative body may make all or any portion of the bonds callable for redemption before maturity at such time, price, and other conditions as it…
§ 35406 The bonds shall be issued in such denomination or denominations as the legislative body may prescribe and payable on the day fixed in the bonds, with interest…
§ 35407 The bonds shall be signed by the mayor of the city or by such other officer as the legislative body in the ordinance, resolution or indenture authorizes and…
§ 35408 The interest coupons on the bonds shall be numbered consecutively and signed by the treasurer.
§ 35409 All of the signatures on the bonds and interest coupons may be made by printed, lithographed, or engraved facsimile except the countersignature of the clerk,…
§ 35410 If any officer whose signature or countersignature appears on the bonds or coupons ceases to be such officer before the delivery of the bonds to the purchaser,…
§ 35411 The bonds shall state in substance that: (a) The bond and interest are payable solely from: (1) The gross or net, as the case may be, revenues from the…
§ 35412 The ordinance, resolution, or indenture providing for the issuance of the bonds may also provide for the maintenance and operation of the parking facilities,…
§ 35413 The ordinance, resolution, or indenture providing for the issuance of the bonds may also provide for the installation of parking meters on the public ways…
§ 35414 The ordinance, resolution, or indenture providing for the issuance of the bonds may also provide for the levy each year, if so provided in the petition and in…
§ 35414.1 If the petition for the formation of a district and the resolution of intention to form the district state that this section shall apply to proceedings taken…
§ 35415 The ordinance, resolution, or indenture providing for the issuance of the bonds may also provide for interest and redemption funds, sinking funds, reserve…
§ 35415.5 The ordinance, resolution or indenture providing for the issuance of the bonds may also provide for restrictions on the operation by the city or the district…
§ 35416 The ordinance, resolution, or indenture may also contain any other provisions, not inconsistent with this part, which are necessary or desirable to carry out…
§ 35417 The provisions of the ordinance, resolution, or indenture shall constitute covenants for the benefit and protection of the holders of the bonds, and any holder…
§ 35418 Any provision of the ordinance, resolution, or indenture, except a provision as to the amount or time of payment of principal or interest on the bonds, may be…
§ 35419 The legislative body may sell the bonds at a price below the par or face value, provided that the discount on any bonds so sold shall not exceed 8 percent of…
§ 35420 Before selling all or any part of the bonds, the legislative body shall give notice inviting sealed bids in such mannner as it prescribes.
§ 35421 If satisfactory bids are received, the bonds offered for sale shall be awarded to the highest responsible bidder.
§ 35422 If no bids are received, or if the legislative body determines that the bids received are not satisfactory as to price or responsibility of the bidders, it may…
§ 35423 The proceeds of the sale of the bonds shall be placed in the city treasury to the credit of the proper district fund and applied exclusively to the objects and…
§ 35424 The proceeds may be used to pay the interest on the bonds during the period of construction of any parking place and for a period of six months thereafter,…
§ 35425 The bonds and the interest coupons thereof shall be negotiable instruments.
§ 35426 With the proceeds from the sale of the bonds and with any money which the city has agreed to contribute for the purpose, the city by and through its proper…
§ 35427 All contracts for the construction of any improvements shall be let and entered into as other contracts are let and entered into by the city.
§ 35428 When the acquisitions and improvements have been accomplished, any unexpended bond proceeds shall be placed in any fund for the payment or securing of the…
§ 35429 After the bonds and all interest thereon have been fully paid, or prior thereto to the extent permitted by express provision of the ordinance, resolution, or…
§ 35430 Whenever a district has been formed under this part and a bonded indebtedness has been incurred for public parking facilities as provided in this part,…
§ 35431 Notwithstanding the provisions of Section 35429, the bonds issued under Section 35430 to provide additional public parking facilities for the district may in…
§ 35432 The bonds issued under Section 35430 to provide additional public parking facilities for the district may in part be secured by those net revenues from parking…