CHAPTER 6. Issuance and Sale of Bonds

Chapter 6 added by Stats. 1963, Ch. 156.

§§ 71950–71975 · 17 sections

1. ARTICLE 1. Issuance and Terms §§ 71950–71960 · 11 sections

   • § 71950 If from the bond election returns it appears that more than two-thirds of the votes cast in such election were in favor of and assented to the incurring of the…
   • § 71951 The full amount of the authorized bonds may be divided into two or more series and different dates fixed for the bonds of each series. The maximum term which…
   • § 71952 The board shall, by resolution, prescribe the form of the bonds and of the coupons attached thereto and fix the time when the whole or any part of the…
   • § 71953 The bonds shall bear interest at a rate or rates not to exceed 8 percent per year, payable semiannually, except that interest for the first year may be payable…
   • § 71954 The board may provide for the call and redemption of bonds prior to maturity at such times and prices and upon such other terms as it may specify. A bond shall…
   • § 71955 The denomination of the bonds shall be stated in the resolution providing for their issuance but shall not be less than one hundred dollars ($100).
   • § 71956 The principal and interest on the bonds shall be payable in lawful money of the United States at the office of the treasurer of the district or such other…
   • § 71957 The bonds shall be dated, numbered consecutively, signed by the president and treasurer of the district, countersigned by the secretary, and the official seal…
   • § 71958 If the bond election proceedings have been limited to and have applied only to an improvement district, the bonds are bonds of the district, shall be issued in…
   • § 71959 Any bonds issued by a district have the same force, value, and use as bonds issued by a city and are exempt from all taxation within the State.
   • § 71960 The board may, without a vote of the electors, provide for the issuance of, and issue, general obligation bonds of the district or for an improvement district…
2. ARTICLE 2. Sale of Bonds and Use of Proceeds §§ 71970–71975 · 6 sections

   • § 71970 Before selling the bonds, or any part thereof, the board shall give notice inviting sealed bids in such manner as it may prescribe. If satisfactory bids are…
   • § 71971 The proceeds from the sale of bonds shall be paid into the treasury of the district, placed to the credit of a special improvement fund, and expended only for…
   • § 71972 Any moneys remaining in the special improvement fund from the sale of bonds of the district after the purpose for which the indebtedness was created has been…
   • § 71973 Interest on any bonds issued by the district coming due before the proceeds of a tax levied at the next general tax levy after the sale of the bonds are…
   • § 71974 The proceeds from the sale of bonds of the district issued for an improvement district thereof may be expended for the purpose for which the indebtedness was…
   • § 71975 Notwithstanding any other provision of law, within the Rainbow Municipal Water District, if bonds have been authorized or issued pursuant to Chapter 4…