PART 6. FINANCIAL PROVISIONS [74750. - 74977.]
Part 6 added by Stats. 1965, Ch. 75.
§§ 74750–74977 · 48 sections
CHAPTER 1. Funds and Warrants §§ 74750–74756 · 7 sections
- § 74750 The treasury of the principal county is the repository of all the funds of a district. For this purpose, the treasurers of any other counties wherein is…
- § 74751 No claim shall be paid by the treasurer until allowed by the board.
- § 74752 The treasurer shall pay out the moneys of the district only upon warrants of the county auditor, drawn upon order of the board signed by the president and…
- § 74753 Upon presentation of any matured bond, or any matured interest coupon on any bond of the district, the treasurer shall pay it from the bond fund. If funds are…
- § 74754 The treasurer shall report in writing at each regular meeting of the board, and as often thereafter as requested by the board, the amount of money on hand, the…
- § 74755 As an alternative to the functions of the county treasurer and the county auditor provided in this chapter, the board may elect to disburse funds of the…
- § 74756 The election made pursuant to Section 74755 may be rescinded by resolution of the board. No later than 30 days following any such rescission, the treasurer…
CHAPTER 2. Limitation on Indebtedness §§ 74770–74772 · 3 sections
- § 74770 The board has no power, except as provided in this division as to certificates of indebtedness, notes, special assessments, and the issuance of bonds by the…
- § 74771 For the purposes of organization, or for any of any purpose for which the board is authorized to expend the collection of the first assessment, an indebtedness…
- § 74772 The expenses of organization, including the fees of attorneys and others employed to conduct the organization proceedings, are a charge upon the district, and…
CHAPTER 3. Bonds §§ 74790–74872 · 27 sections
ARTICLE 1. In General §§ 74790–74792 · 3 sections
- § 74790 A district may incur a bonded indebtedness for any purpose for which the board is authorized to expend the funds of the district, including any works,…
- § 74791 Bonds issued by a district, and bonds issued for any improvement district therein, shall be payable, both principal and interest, from assessments upon the…
- § 74792 Bonds of the district may be issued in the manner provided in this chapter payable, both principal and interest, from assessments levied upon all real property…
ARTICLE 2. Initiation of Proceedings §§ 74800–74804 · 5 sections
- § 74800 The board, whenever the interest of the district shall require it, may cause a report to be made to the effect that the acquisition of certain property or…
- § 74801 After the printing of the report the board, by resolution adopted by a majority of its members, may call an election to be held in the district for the purpose…
- § 74802 The resolution shall specify all of the following: (a) The purpose for which the indebtedness is to be incurred. (b) The amount of bonds proposed to be issued.…
- § 74803 The resolution shall further provide for submitting the question of the incurring of the indebtedness to the qualified electors of the district at an election…
- § 74804 In determining the amount of bonded indebtedness to be incurred, the board may include all costs and estimated costs incidental to or connected with the…
ARTICLE 3. Notice of Bond Election §§ 74820–74822 · 3 sections
- § 74820 Notice shall be given of the bond election by publication pursuant to Section 6062 of the Government Code in a newspaper of general circulation published in…
- § 74821 The notice of the bond election shall state all of the following: (a) The time and place for holding the election. (b) The names or numbers of election…
- § 74822 The notice of the bond election shall also state all of the following: (a) The amount of the debt proposed to be incurred. (b) The purpose thereof, in brief…
ARTICLE 4. Bond Election §§ 74830–74834 · 5 sections
- § 74830 The manner of holding and conducting the bond election, the selection of officers to conduct the election, the designation of precincts and polling places, the…
- § 74831 Several propositions may be submitted at the same bond election.
- § 74832 Only qualified electors of the district may vote at the bond election.
- § 74833 The ballots at the bond election shall contain a general statement of the amount and purpose of the bonds to be issued. To the right of or below the statement…
- § 74834 If a bond election has been fairly held and conducted, no informality or omission to perform a prescribed duty shall be held to invalidate or affect the…
ARTICLE 5. Issuance and Terms §§ 74850–74857 · 8 sections
- § 74850 If two-thirds of the votes cast upon the proposition at the bond election favor the proposition submitted, the proposition shall be deemed to have been…
- § 74851 The board may issue the bonds of the district for the whole or any part of the amount of the indebtedness authorized, and may, from time to time, provide for…
- § 74852 The board shall, by a resolution adopted by a majority of its members, prescribe the form of the bonds and of the coupons attached thereto and fix the time…
- § 74853 The bonds shall bear interest at a rate not exceeding 8 percent per year, payable annually or semiannually as may be prescribed by the board at the time of the…
- § 74854 The board may provide for redemption of bonds before maturity at prices determined by it. A bond shall not be subject to call or redemption prior to maturity…
- § 74855 The bonds shall be in such denominations as the board may prescribe.
- § 74856 The principal and interest shall be payable in lawful money of the United States at the office of the treasurer or such other place as may be designated or at…
- § 74857 The bonds shall be dated, numbered consecutively, signed by the president, and attested by the secretary with the official seal of the district. The interest…
ARTICLE 6. Sale of Bonds and Use of Proceeds §§ 74870–74872 · 3 sections
- § 74870 The bonds as issued may be sold at such times and in such amounts as the board deems expedient, after a notice inviting bids therefor has been published in the…
- § 74871 The proceeds from the sale of bonds shall be paid into the treasury of the district, placed to the credit of a special fund, and expended only for the purpose…
- § 74872 If the board determines by resolution that (1) the expenditure of money raised by the sale of bonds for the purpose for which the bonds were voted is…
CHAPTER 4. Adoption of Improvement Acts §§ 74900–74904 · 5 sections
- § 74900 A district, in the construction of any work to be done or improvement made by it or within an improvement district formed pursuant to Part 7 (commencing with…
- § 74901 Notwithstanding the provisions or limitations of any of the improvement acts relating to the work authorized to be done or the improvements authorized to be…
- § 74902 In the application of the improvement acts to proceedings under this division, the terms used in those acts shall have the following meanings: (a) “City…
- § 74903 The powers and duties conferred by the improvement acts upon boards, officers, and agents of cities shall be exercised by the board, officers, and agents of…
- § 74904 No assessment or bond levied or issued pursuant to proceedings under any of the improvement acts, as authorized by this chapter, shall become a lien, and no…
CHAPTER 5. Negotiable Promissory Notes §§ 74950–74952 · 3 sections
- § 74950 The district may issue negotiable promissory notes bearing interest at a rate not exceeding the rate set by Article 7 (commencing with Section 53530) of…
- § 74951 “Taxable property,” as used in Section 74950, means: (a) All lands and improvements within a district or improvement district, as the case may be, if the…
- § 74952 If a district undertakes to issue promissory notes pursuant to the limitations set forth in Section 74950, the limitations provided in Sections 75357 and 75358…
CHAPTER 6. Issuance of Revenue Bonds Pursuant to the Revenue Bond Law of 1941 §§ 74975–74977 · 3 sections
- § 74975 Subject to the limitations of this chapter, revenue bonds, including refunding revenue bonds, may be issued by a district under the Revenue Bond Law of 1941,…
- § 74976 This chapter provides an alternative authority and procedure for the subject to which it relates, but does not affect any other law relating to such subject or…
- § 74977 For the purposes of this chapter, the term “enterprise,” as used in the Revenue Bond Law of 1941, shall be limited to and shall include only those works or…