ARTICLE 1. Issuance and Terms

Article 1 added by Stats. 1963, Ch. 156.

§§ 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…