CHAPTER 5. Provisions Applicable to Bonds and Warrants

Chapter 5 added by Stats. 1943, Ch. 372.

§§ 24735–24771 · 14 sections

1. ARTICLE 1. Surrender of Bonds and Warrants §§ 24735–24738 · 4 sections

   • § 24735 Any owner of any bonds or warrants of a district may surrender them to the district by giving the bonds or warrants to the secretary for cancellation.
   • § 24736 The board shall then order the bonds or warrants canceled.
   • § 24737 Upon the making of the order, the bonds or warrants shall cease to be an obligation of the district as of the time of their presentation to the secretary.
   • § 24738 This article does not restrict any other method of releasing obligations of a district to it.
2. ARTICLE 2. Modification of Bonds and Warrants §§ 24760–24771 · 10 sections

   • § 24760 If a district desires to extend the time or times of maturity of any or all of its bonds or warrants payable at stated times or to reduce the rate of interest…
   • § 24761 The rate of interest specified in the agreement or plan shall not exceed 8 percent per year.
   • § 24762 All interest coupons shall be payable on the first day of January or the first day of July.
   • § 24765 The board may call an election to submit to the voters the question whether or not the bonds or warrants shall be modified as provided in the agreement or…
   • § 24766 If a majority of the votes cast for and against the proposal is in favor of modifying the bonds or warrants, the proposal is approved.
   • § 24767 An agreement or plan may not be carried out pursuant to this article until a proposal therefor is approved by the voters, and a plan may not be carried out…
   • § 24768 Upon the presentation to the secretary of any of the bonds or warrants covered by the agreement or plan, he shall indorse on them the date to which their…
   • § 24769 If the agreement or plan provides for a reduction in the rate of interest on the bonds or warrants before the original time or times of their maturity, new…
   • § 24770 Each bond or warrant presented and indorsed shall continue as an obligation of the district and shall not become due until the date specified in the agreement…
   • § 24771 This article does not amend, modify, or limit any other provision of law for changing the date or dates of maturity of outstanding obligations of a district,…