PART 12. REDEMPTION FUND DEFICIENCIES

Part 12 added by Stats. 1941, Ch. 79.

§§ 8770–8784 · 14 sections

• § 8770 If it appears to the treasurer that there is danger of an ultimate loss accruing to the bondholders for any reason, he or she shall withhold payment on all…
• § 8771 On receipt of the report, the legislative body shall fix a date for hearing thereon. The clerk shall give notice of the hearing by posting for 10 days. At the…
• § 8772 If the legislative body determines that in its judgment there will be a shortage in the redemption fund, it shall direct the treasurer to pay to the holders of…
• § 8773 In order to facilitate the making of proportionate payments, the holders of outstanding bonds shall surrender them to the treasurer for registration and…
• § 8774 The legislative body may hold supplemental hearings on like notice and such other and supplemental orders may be made from time to time as may be equitable and…
• § 8775 If a deficiency occurs in the redemption fund with which to pay past due bonds, past due interest, or bonds or interest which will become due during the…
• § 8776 When funds become available for the payment of any bond which was not paid upon presentment, the treasurer shall notify the registered owner thereof by…
• § 8778 If a deficiency remains in the redemption fund after one year from the issuance of the bonds, the legislative body may require all persons interested to appear…
• § 8779 Notice of the hearing shall be given by publication, and shall also be posted by the street superintendent in the same manner as provided by the law pursuant…
• § 8780 At the time set for the hearing the legislative body shall proceed to hear any person appearing and may determine whether or not such deficiency was due to the…
• § 8781 The cost of the publication and posting of the notice and of making the supplemental assessment may be included in the supplemental assessment. A copy of the…
• § 8782 The legislative body may provide in its order levying the supplemental assessment that the supplemental assessments may be collected in annual installments…
• § 8783 All money collected on the supplemental assessment shall be paid into the redemption fund and be applied to the payment of the costs of publishing and posting…
• § 8784 If there is a surplus remaining in the redemption fund after payment of all bonds and the interest thereon, that surplus shall first be applied to repayment to…