ARTICLE 2. Refunding Bond Sinking Fund [25060. - 25068.]

Article 2 added by Stats. 1943, Ch. 372.

§§ 25060–25068 · 9 sections

• § 25060 If any issue of refunding bonds are made to mature at one time, the board prior to or at the time of their issuance shall provide for the creation of and…
• § 25061 The amount of sinking fund payments may be modified from time to time by the board.
• § 25062 Whenever the sinking fund contains at least ten thousand dollars ($10,000), the board may publish notice of redemption at least once a week for three…
• § 25063 The notice shall set forth all of the following: (a) The amount available for the redemption of the bonds. (b) An invitation for sealed proposals for the sale…
• § 25064 All proposals received in response to the notice shall be opened by the board in open meeting at the time specified in the notice or at a time to which the…
• § 25065 Any or all of the proposals may, in the discretion of the board, be rejected.
• § 25066 If no bids are received or if the bids received and accepted are not sufficient to exhaust the money on hand and available for the purpose, the district…
• § 25067 No proposal to sell bonds to the district pursuant to this article at a price in excess of their par value shall be accepted.
• § 25068 All bonds purchased from sinking fund money shall be forthwith canceled.