Government Code — Part 58 | GOV — United States — California law | Esheria

Government Code

Part 58 of 107 · provisions 11,401–11,600

This act is named the Government Code.

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About this statute

This section defines key terms used in the CalSavers retirement savings title. This section creates the CalSavers Retirement Savings Board and sets rules for how the board, program administrator, and staff must operate. This section creates the CalSavers Retirement Savings Trust, assigns the board to administer it, requires the board to split trust money into a program fund and an administrative fund, and gives the Treasurer and the board investment-related powers. It also caps administrative fund spending at 1% of the total program fund after six years from implementation and exempts certain securities from specified Corporations Code sections. The CalSavers Retirement Savings Program must include one or more payroll deduction IRA arrangements, as determined by the board. The board has broad authority over the trust, including contracts, investments, staff, insurance, cooperation, and rulemaking.

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Provisions of Government Code

Showing 200 of 21,333

  1. 50550.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

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    This section defines “improvements” for this article.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50550. As used in this article, “improvements” means any or all of the following property acquired, constructed or installed by a local agency with funds derived from special assessments under the Improvement Act of 1911 (Division 7 (commencing at Section 5000), Streets and Highways Code) or any other law: (a) Water mains, pipes, conduits, hydrants and other works or appliances which may be used for providing water service. (b) Poles, posts, lines, pipes, conduits, lamps, and other works or appliances which may be used for providing electricity and electric service. (c) Mains, pipes and other works and appliances which may be used for providing gas service. (d) Poles, posts, lines, pipes, conduits, and other works or appliances for the purpose of supplying telephone or other communications. (Amended by Stats. 1959, Ch. 502.)
  2. 50551.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

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    A local agency’s legislative body may sell certain improvements if it decides by resolution that they are no longer useful or cannot be operated and maintained economically and efficiently.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50551. Whenever the legislative body of a local agency determines by resolution that certain of its improvements are no longer useful for the purpose for which they were acquired, constructed or installed, or that such improvements cannot be economically and efficiently operated and maintained by the local agency, such improvements may be sold pursuant to this article. (Added by Stats. 1957, Ch. 1923.)
  3. 50552.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

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    The legislative body must adopt a resolution of intention that describes the improvements and gives the reason for the proposed sale, and the resolution must include notice of when and where objections may be heard.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50552. The legislative body shall adopt a resolution of intention, describing the improvements and stating the reason for which the improvement is proposed to be sold. The resolution shall contain a notice of the time and place, when and where persons objecting to the proposed sale may appear before the legislative body and show cause why the proposed sale shall not be made. The time shall not be less than 15, nor more than 40, days after the passage of the resolution. (Added by Stats. 1957, Ch. 1923.)
  4. 50553.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

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    The clerk of the legislative body must publish the resolution of intention once a week for two successive weeks in a newspaper of general circulation in the local agency.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50553. The clerk of the legislative body shall cause the resolution of intention to be published once a week for two successive weeks in a daily, semiweekly or weekly newspaper of general circulation in the local agency. (Added by Stats. 1957, Ch. 1923.)
  5. 50554.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

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    An owner of property being assessed for an improvement sale may appear before the legislative body and object at the time and place set in the resolution of intention.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50554. At the time and place fixed in the resolution of intention, any owner of property assessed or being assessed to pay for the acquisition, construction or installation of the improvement proposed to be sold may appear before the legislative body and object to the sale. (Added by Stats. 1957, Ch. 1923.)
  6. 50555.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

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    An affected property owner may file a written protest with the clerk of the legislative body before the hearing on objections.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50555. At any time not later than the time set for hearing objections, any owner of property assessed or being assessed to pay for the acquisition, construction or installation of the improvement proposed to be sold may make and deliver to the clerk of the legislative body a written protest against the proposed sale. Failure to object in writing at that time constitutes a waiver of all objections to the proposed sale and a bar to any subsequent attack on the validity of such sale. (Added by Stats. 1957, Ch. 1923.)
  7. 50556.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

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    The legislative body must hear protests on the proposed sale. A 10% written protest by owners stops the proceedings for six months; with less than 10% objection and if the sale is in the local agency’s best interests, the legislative body may overrule the protests and proceed.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50556. At the time for hearing protests, the legislative body shall hear and pass upon all protests and objections to the proposed sale. If 10 percent of the owners of property assessed or being assessed to purchase the property proposed to be sold, protest such sale in writing, the proceedings shall terminate and no proceedings for a similar purpose shall be instituted for a period of six months. If less than 10 percent of the owners of such property object to the proposed sale and if, in the opinion of the legislative body, the sale of such improvements will be for the best interests of the local agency, the legislative body may overrule all protests and proceed with the sale of such improvement. The decision of the legislative body shall be final. (Added by Stats. 1957, Ch. 1923.)
  8. 50557.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

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    If the legislative body decides to proceed, it must adopt a resolution to sell the improvement and call for bids.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50557. If the legislative body determines to proceed, it shall adopt a resolution ordering the sale of such improvement and calling for bids. The resolution shall fix the time for receiving bids, the terms and conditions of the sale, and shall direct the clerk to give notice inviting sealed bids. (Added by Stats. 1957, Ch. 1923.)
  9. 50558.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

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    When an improvement is useful and necessary for a local agency service, the legislative body must make the sale conditional on the purchaser maintaining and operating it to provide that service.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50558. If the improvement is useful and necessary for the rendition of a service to the local agency, the legislative body shall provide that the sale is conditional upon the purchaser maintaining and operating the improvement for the purpose of providing such service. The contract of sale shall prescribe the period of time during which such condition shall be operative and may prescribe circumstances under which it may be terminated by the parties prior to the expiration of such time. (Added by Stats. 1957, Ch. 1923.)
  10. 50559.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

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    The notice inviting sealed proposals must describe the improvement, the sale terms and conditions, and when and where sealed proposals will be received.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50559. The notice inviting sealed proposals shall contain a description of the improvement, the terms and conditions of the sale, and the time and place when and where sealed proposals will be received. (Added by Stats. 1957, Ch. 1923.)
  11. 5056.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. )

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    An authorized officer may use a facsimile seal on a certificated registered public obligation when a seal is required or permitted.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. ) ## 5056. When a seal is required or permitted in the execution of any certificated registered public obligation, an authorized officer may cause the seal to be printed, engraved, stamped, or otherwise placed in facsimile thereon. The facsimile seal has the same legal effect as the impression of the seal. (Added by Stats. 1983, Ch. 59, Sec. 1. Effective June 2, 1983.)
  12. 50560.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

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    The notice must be published in a qualifying newspaper for two successive weeks and posted conspicuously for five days near the legislative body’s chamber door.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50560. The notice shall be published at least once a week for two successive weeks in a daily, semiweekly, or weekly newspaper of general circulation in the local agency or assessment district and shall be posted conspicuously for five days on or near the door of the legislative body’s chamber. (Added by Stats. 1957, Ch. 1923.)
  13. 50561.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

    Verify source ↗

    The legislative body must sell the improvement to the highest responsible bidder, or it may reject any or all bids.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50561. The legislative body shall sell the improvement to the highest responsible bidder or may reject any or all bids. (Added by Stats. 1957, Ch. 1923.)
  14. 50562.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

    Verify source ↗

    A legislative body may sell improvements without first calling or advertising for bids if it finds that the public interest will be furthered or that bidding would not be competitive.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50562. If the legislative body finds that the public interest will be furthered or that the advertising or calling for bids will not result in competitive bidding, such improvements may be sold without first calling or advertising for bids. (Added by Stats. 1957, Ch. 1923.)
  15. 50563.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

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    A local agency must distribute sale proceeds from the improvement to assessed property owners, and owners receive shares based on their assessment amounts.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50563. The proceeds of the sale of such improvement shall be distributed by the local agency to the owners of the property which has been or is being assessed to pay for such improvement as their names and addresses appear on the last equalized city or county assessment roll, as the case may be, available on the date the distribution there is commenced, and at their addresses as shown upon such roll or as shown to the official effecting the distribution. Each property owner shall receive an amount which bears the same ratio to the total proceeds as the current assessment against his property bears to the total current assessment for such improvement. In the event the total amount each property owner is entitled to receive exceeds fifty dollars ($50), such property owner shall certify under penalty of perjury that he is the owner or was the legal owner of such property on the date of distribution. Payment to such person by the local agency shall relieve such local agency of all and any liability for payment under this section. (Amended by Stats. 1965, Ch. 574.)
  16. 50564.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. )

    Verify source ↗

    This article must be read broadly to carry out its purposes, and the powers granted here do not limit other powers of local agencies.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 9. Sale of Improvements Financed by Special Assessments [50550 - 50564] ( Article 9 added by Stats. 1957, Ch. 1923. ) ## 50564. This article shall be liberally construed to effectuate its purposes. The powers herein granted to local agencies shall not be construed as a limitation on any other powers heretofore or hereinafter granted to such agencies. (Added by Stats. 1957, Ch. 1923.)
  17. 50568.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 10. Surplus Real Property [50568 - 50573] ( Article 10 added by Stats. 1971, Ch. 1737. )

    Verify source ↗

    This section defines several terms used in the article on surplus real property.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 10. Surplus Real Property [50568 - 50573] ( Article 10 added by Stats. 1971, Ch. 1737. ) ## 50568. Unless the context otherwise requires, the following definitions govern the construction of this article: (a) “Persons and families of low or moderate income” means persons and families of low or moderate income, as defined by Section 50093 of the Health and Safety Code. (b) “Limited dividend housing corporation” means any joint venture, partnership, limited partnership, trust, limited liability company, or corporation organized or existing under the laws of this state or authorized to do business in this state and subject to the restrictions of Division 24 (commencing with Section 33000) of the Health and Safety Code. (c) “Housing corporation” means a corporation organized pursuant to the Community Land Chest Law (Chapter 2 (commencing with Section 35100) of Part 3 of Division 24 of the Health and Safety Code). (d) “Nonprofit corporation” means a nonprofit corporation formed under or subject to the provisions of Part 2 (commencing with Section 5110) of Division 2 of Title 1 of the Corporations Code and whose articles of incorporation provide that the corporation has been organized exclusively to provide housing facilities for persons and families of low or moderate income. (Amended by Stats. 1994, Ch. 1010, Sec. 143. Effective January 1, 1995.)
  18. 50569.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 10. Surplus Real Property [50568 - 50573] ( Article 10 added by Stats. 1971, Ch. 1737. )

    Verify source ↗

    Each local agency must make an annual inventory of its lands and identify any surplus land, and it must make descriptions of surplus parcels public record. On request, certain members of the public and named corporations must be given a list of the parcels without charge.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 10. Surplus Real Property [50568 - 50573] ( Article 10 added by Stats. 1971, Ch. 1737. ) ## 50569. On or before December 31 of each year, each local agency as defined in Section 54951 shall make an inventory of all lands held, owned or controlled by it or any of its departments, agencies or authorities to determine what land, including air rights, if any, is in excess of its foreseeable needs. A description of each parcel found to be so in excess of needs shall be made a matter of public record. Any citizen, limited dividend corporation, housing corporation or nonprofit corporation, shall upon request be provided with a list of said parcels without charge. (Added by Stats. 1971, Ch. 1737.)
  19. 5057.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. )

    Verify source ↗

    An issuer may appoint and define agents for registered public obligations, may make arrangements with custodian banks and financial intermediaries for a central depository system, and may carry out the listed functions itself.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. ) ## 5057. (a) An issuer may appoint for such term as may be agreed, including for so long as a registered public obligation may be outstanding, corporate or other authenticating agents, transfer agents, registrars, paying or other agents, and specify the terms of their appointment, including their rights, their compensation and duties, limits upon their liabilities and provision for their payment of liquidated damages in the event of breach of certain of the duties imposed, which liquidated damages may be made payable to the issuer, the owner or a financial intermediary. None of such agents need have an office or do business within this state. (b) An issuer may agree with custodian banks and financial intermediaries, and nominees of any of them, in connection with the establishment and maintenance by others of a central depository system for the transfer or pledge of registered public obligations. Any such custodian banks and financial intermediaries, and nominees, if qualified and acting as fiduciaries, may serve also as authenticating agents, transfer agents, registrars, paying or other agents of the issuer with respect to the same issue of registered public obligations. (c) Nothing shall preclude the issuer from itself performing, either alone or jointly with other issuers, any transfer, registration, authentication, payment, or other function described in this section. (Added by Stats. 1983, Ch. 59, Sec. 1. Effective June 2, 1983.)
  20. 50570.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 10. Surplus Real Property [50568 - 50573] ( Article 10 added by Stats. 1971, Ch. 1737. )

    Verify source ↗

    A local agency may transfer surplus real property for housing purposes, but the deed must include a reversion clause and a recital of the required finding.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 10. Surplus Real Property [50568 - 50573] ( Article 10 added by Stats. 1971, Ch. 1737. ) ## 50570. Notwithstanding the provisions of Sections 54222 and 54223, a local agency, or any department, agency or authority thereof may lease, sell or grant or otherwise transfer any real property, including air rights owned, held or controlled by it and found to be in excess of foreseeable needs under this article, to any housing corporation, limited dividend corporation or nonprofit corporation, upon such terms and conditions as any other provisions of law notwithstanding the local agency may deem to be best suited to the development of the parcel for housing available to persons and families of low or moderate income at affordable housing cost, as defined by Section 50052.5 of the Health and Safety Code. The deed or other instrument of conveyance shall provide that whenever the ownership of the land or the mortgagor corporation is no longer composed of a majority of the nonprofit or limited dividend sponsors, title to the land shall revert to the local agency. The deed or other instrument of conveyance shall also contain a recital that the grantor local agency or department, agency or authority thereof has made the finding required by this section and such recital shall be conclusive in favor of purchasers or encumbrancers for value. (Amended by Stats. 1980, Ch. 1076.)
  21. 50572.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 10. Surplus Real Property [50568 - 50573] ( Article 10 added by Stats. 1971, Ch. 1737. )

    Verify source ↗

    Property under this article may be transferred only after a public hearing.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 10. Surplus Real Property [50568 - 50573] ( Article 10 added by Stats. 1971, Ch. 1737. ) ## 50572. Property may be transferred under this article only after a public hearing, but without regard to other provisions of this code concerning leases of real property. (Added by Stats. 1971, Ch. 1737.)
  22. 50573.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 10. Surplus Real Property [50568 - 50573] ( Article 10 added by Stats. 1971, Ch. 1737. )

    Verify source ↗

    Certain low- or moderate-income persons, housing corporations, limited dividend housing corporations, and nonprofit corporations may file an action to enforce this article’s inventory provisions.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 10. Surplus Real Property [50568 - 50573] ( Article 10 added by Stats. 1971, Ch. 1737. ) ## 50573. Any person or family of low or moderate income, housing corporation, limited dividend housing corporation, or nonprofit corporation may bring an action to enforce the provisions of this article relating to the inventory pursuant to Section 50569. (Amended by Stats. 1979, Ch. 1191.)
  23. 50574.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 11. Property Within Designated Qualified Opportunity Zones [50574- 50574.] ( Article 11 added by Stats. 2018, Ch. 380, Sec. 1. )

    Verify source ↗

    A city or county must require a qualified opportunity zone fund to provide specified information before a sale or lease of covered property, may not complete the sale or lease unless that information is submitted, and must post the information on its website.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2. Public Property [50300 - 50574] ( Chapter 2 added by Stats. 1949, Ch. 81. ) ## ARTICLE 11. Property Within Designated Qualified Opportunity Zones [50574- 50574.] ( Article 11 added by Stats. 2018, Ch. 380, Sec. 1. ) ## 50574. (a) For purposes of this article, the following terms have the following meanings: (1) “Designated qualified opportunity zone” means a qualified opportunity zone, as defined in subsection (a) of Section 1400Z-1 of Title 26 of the United States Code, that has received a designation pursuant to that section. (2) “Qualified opportunity zone business property” has the same meaning as defined in subparagraph (D) of paragraph (2) of subsection (d) of Section 1400Z-2 of Title 26 of the United States Code. (3) “Qualified opportunity zone fund” has the same meaning as defined in subsection (d) of Section 1400Z-2 of Title 26 of the United States Code. (b) (1) A city or county shall require a qualified opportunity zone fund to provide all of the following as part of any transaction for the sale or lease to a qualified opportunity zone fund for use as a qualified opportunity zone business property of property owned by the city or county that is located within a designated qualified opportunity zone: (A) A timeline for completion of the investment activity on the property. (B) An estimation of the number of jobs that will be created as a result of the investment activity on the property. (C) A summary of local workforce utilization strategies that will be employed as part of the investment activity on the property. (2) A qualified opportunity zone fund shall provide the information required by paragraph (1) as part of its request for the sale or lease of property owned by the city or county. (3) A city or county shall not sell or lease property to a qualified opportunity zone fund unless the qualified opportunity zone fund has submitted the information required by paragraph (1). (c) The information required by paragraph (1) of subdivision (b) shall be posted on the city or county’s Internet Web site. (Added by Stats. 2018, Ch. 380, Sec. 1. (AB 1445) Effective January 1, 2019.)
  24. 50575.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    This chapter may be known and cited as the Open Space Maintenance Act.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. ) ## 50575. This chapter may be known and cited as the Open Space Maintenance Act. (Added by Stats. 1965, Ch. 1503.)
  25. 50576.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    The chapter’s procedure is supplemental to, or may be used instead of, other procedures set by ordinance or state law. The decision to proceed under the chapter must be stated in the ordinance of intention to form the district.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. ) ## 50576. The procedure established herein shall be additional or alternative to any other procedure established by ordinance or state law. The election to proceed under this chapter shall be expressed in the ordinance of intention to form the district. (Added by Stats. 1965, Ch. 1503.)
  26. 50577.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    This section says its definitions control how words and phrases in the chapter are read unless the particular provision or context requires otherwise.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. ) ## 50577. Unless the particular provision or the context otherwise requires, the definitions and provisions contained in this section shall govern the construction and the meaning and application of words and phrases used in this chapter. (Added by Stats. 1965, Ch. 1503.)
  27. 50578.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    This section defines “clerk” as the clerk of the legislative body of the local agency.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. ) ## 50578. “Clerk” means the clerk of the legislative body of the local agency. (Added by Stats. 1965, Ch. 1503.)
  28. 50579.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    “Maintenance” is defined as the acts needed to carry out this chapter’s purposes, including maintaining and improving open areas and performing the acts listed in Section 50583.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. ) ## 50579. “Maintenance” means the performance of all acts and doing of the things necessary to carry out the purposes of this chapter, including the maintenance and improvement of open areas and the doing of those acts set forth in Section 50583. (Added by Stats. 1965, Ch. 1503.)
  29. 5058.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. )

    Verify source ↗

    An issuer may set up a registration system so transferors or transferees pay some or all transfer costs, or costs are paid from bond proceeds, and the issuer bears any remaining costs.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. ) ## 5058. (a) An issuer, prior to or at original issuance of registered public obligations, may provide as a part of a system of registration that the transferor or transferee of the registered public obligations pay all or a designated part of the costs of the system as a condition precedent to transfer, that costs be paid out of proceeds of the registered public obligations, or that both methods be used. The portion of the costs of the system not provided to be paid for by the transferor or transferee or out of proceeds shall be the liability of the issuer. (b) The issuer may, as part of a system of registration, provide for reimbursement or for satisfaction of its liability by payment by others. The issuer may enter into agreements with others respecting such reimbursement or payment, may establish fees and charges pursuant to such agreements or otherwise, and may provide that the amount or estimated amount of such fees and charges shall be reimbursed or paid from the same sources and by means of the same collection and enforcement procedures and with the same priority and effect as with respect to the obligations. (Added by Stats. 1983, Ch. 59, Sec. 1. Effective June 2, 1983.)
  30. 50580.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    “Open space” or “open area” is defined as land or area with scenic beauty, or land whose openness, natural condition, or current use would help nearby urban development value or conserve natural or scenic resources.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. ) ## 50580. “Open space” or “open area” means any space or area characterized by great natural scenic beauty or whose existing openness, natural condition, or present state of use, if retained, would enhance the present or potential value of abutting or surrounding urban development, or would maintain or enhance the conservation of natural or scenic resources. (Added by Stats. 1965, Ch. 1503.)
  31. 50581.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    This section defines “open space maintenance district” or “district” as a district created under this chapter to pay assessments for maintenance work.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. ) ## 50581. “Open space maintenance district” or “district” means any district created pursuant to the provisions of this chapter to pay the assessments for the maintenance work to be done hereunder. (Added by Stats. 1965, Ch. 1503.)
  32. 50582.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    Local agencies may form maintenance districts to fund and carry out open-space improvement and maintenance, including fire-risk reduction.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. ) ## 50582. The purpose of this chapter is to provide a means whereby any local agency may form maintenance districts within which property may be assessed to pay the costs and expenses of improving and maintaining open spaces which the local agency has acquired pursuant to Sections 6950 to 6954, inclusive, and to maintain such open spaces in a way that will reduce the danger of fire which exists when open areas covered with vegetation remain in their natural state. (Added by Stats. 1965, Ch. 1503.)
  33. 50583.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    This section lists the kinds of acts authorized under the chapter for open space maintenance districts.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 1. General Provisions [50575 - 50583] ( Article 1 added by Stats. 1965, Ch. 1503. ) ## 50583. In addition to matters specified elsewhere in this chapter, the acts authorized under this chapter include the following: (a) The formation of districts pursuant to this chapter. (b) The planning, maintaining, improving, protecting, limiting the future use of or otherwise conserving open spaces and areas within the local agency and the reduction of the hazards of fire, erosion, and flooding in such areas by: (i) Clearing and removing or ordering the clearing and removal of dry grass, stubble, brush, rubbish, litter or other inflammable material which endangers the public safety by creating a fire hazard and which is not provided for by the regular controls exercised by the fire department of the legislative body, if any. (ii) Acquiring, constructing and maintaining works, not otherwise regularly provided by the local agency which are necessary or convenient for the prevention and extinguishing of fires; (iii) Destroying and removing noxious, dangerous or unsightly weeds; (iv) Planting and maintaining trees, shrubs, lawns and other vegetation; (v) Making such regulations as are necessary or desirable to limit the future use of the areas in order to maintain or enhance the conservation of their natural or scenic resources and to protect the public health and safety; and (vi) Constructing and maintaining such other improvements as may be necessary or convenient for the accomplishment of the purposes of this chapter. (c) The doing of all acts and things necessary or convenient for the accomplishment of the purposes of this chapter. (Added by Stats. 1965, Ch. 1503.)
  34. 5059.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. )

    Verify source ↗

    Certain registered obligations issued by public entities are treated as meeting the state’s deposit-security requirements if a security interest in them is perfected for the depositing public agency.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. ) ## 5059. Obligations issued by public entities under the laws of this state, which are in registered form, whether or not represented by an instrument, and which, except for their form, satisfy the requirements with regard to security for deposits of moneys of public agencies prescribed pursuant to any law of this state, shall be deemed to satisfy all such requirements, even though they are in registered form, if a security interest in such obligations is perfected on behalf of the public agencies whose moneys are so deposited. (Added by Stats. 1983, Ch. 59, Sec. 1. Effective June 2, 1983.)
  35. 50590.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    A district formation proceeding may start by petition from qualifying landowners, and the clerk must check the petition and forward it if it has the required signatures.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. ) ## 50590. Proceedings for the formation of an open space maintenance district may be initiated by petition signed by the owners of assessable land in the proposed district, as shown by the last equalized assessment roll of the county, owning lands of an assessed value of not less than twenty-five percent (25%) of the total assessed value of all assessable land in the district, as shown by the last equalized county assessment roll. The petition shall contain a general description of the exterior boundaries of the proposed district, a general description of the open spaces to be maintained, a general description of the maintenance to be done on the open spaces, and a statement that the petition is filed pursuant to this chapter. The petition shall be filed with the clerk, who shall check or cause it to be checked. If it is signed by the requisite number of qualified signers, the clerk shall make his certificate to that effect and shall present the petition and certificate to the legislative body. (Added by Stats. 1965, Ch. 1503.)
  36. 50591.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    Before an ordinance of intention to form the district is adopted, the designated local officer or board must prepare and file a preliminary report with the clerk.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. ) ## 50591. Before the legislative body adopts an ordinance of intention to form the district, the superintendent of streets or other officer, board or commission of the local agency designated by the legislative body shall make and file with the clerk a preliminary report which shall contain the following information: (a) A general description of the open areas proposed to be maintained, all of which must lie wholly within the boundaries of the district; (b) A general description of the proposed maintenance; (c) An estimate of the annual costs and expenses of maintenance of the open areas which benefit property within the proposed district; (d) A diagram or map showing: (i) The boundaries of the district proposed to be assessed and the public streets, alleys, ways or other public places situated therein; (ii) Each parcel of land benefited by the maintenance, giving each a separate number or designation upon the diagram. The said diagram, as approved by the legislative body, shall govern for all details as to the lands determined to be benefited by the maintenance and to thereafter be assessed. The preliminary report, prior to its filing with the clerk, shall be referred to the planning commission, if any, for its recommendation upon the formation of such district. The recommendation of the planning commission shall be transmitted to the clerk along with the preliminary report. (Added by Stats. 1965, Ch. 1503.)
  37. 50592.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    After the report is filed, the clerk must present it to the legislative body. The legislative body may change the report, set a hearing on objections, and adopt an ordinance to form the district. The report must stay open for inspection in the clerk’s office until the public hearing.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. ) ## 50592. After the filing of the report, the clerk shall present it to the legislative body for consideration. The legislative body may approve, amend, alter, modify or correct the report or may direct changes to be made therein. When the report has been approved by the legislative body, it may fix a time and place for hearing objections to the proposed formation of the district or to the report and may adopt an ordinance declaring its intention to form the district. The report shall thereafter be open to inspection in the office of the clerk until the public hearing. (Added by Stats. 1965, Ch. 1503.)
  38. 50593.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    A legislative body may adopt an ordinance to start forming an open space maintenance district if it finds the public interest and convenience require it.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. ) ## 50593. If the legislative body determines that the public interest and convenience require the formation of a district, it may adopt an ordinance declaring its intention to form a district pursuant to the provisions of this chapter. The ordinance of intention, in addition to making the foregoing determination, shall also contain: (a) A general description of the exterior boundaries of the proposed district, as specified in Section 50594. (b) A general description of the maintenance proposed to be done and the open areas to be maintained or conserved thereby. (c) A statement that an annual assessment may be levied to pay the costs and expenses of the maintenance on the open areas. (d) A statement that amounts so assessed shall be billed for and collected as a part of the regular tax bills. (e) The day, hour and place for the hearing by the legislative body of protests and objections to the formation of the proposed district or to the proposed maintenance, and a statement that any owner of property liable to be assessed for the maintenance may make written protest against the proposed maintenance or against the formation of the proposed district or both by filing a written protest with the clerk at any time not later than the hour so fixed for the hearing. The time for the hearing shall not be less than 15 or more than 60 days from the date of the adoption by the legislative body of the ordinance. If new or increased assessments are proposed, the legislative body shall comply with the notice, hearing, and protest procedures in Section 53753. (Amended by Stats. 2000, Ch. 262, Sec. 18. Effective January 1, 2001.)
  39. 50594.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    The ordinance of intention may describe the proposed assessment district by its exterior boundaries or by reference to the preliminary report’s diagram. It may also describe the maintenance in general terms and refer to filed plans and reports.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. ) ## 50594. The proposed assessment district may be described in the ordinance of intention by stating the exterior boundaries thereof or by referring to the diagram provided for in the Preliminary report required therefor. The description of the maintenance shall be sufficient if the ordinance states in general terms the classes or kinds of maintenance contemplated, contains a general description of the property upon which the maintenance is to be done or the name by which such property is commonly known, and refers to plans and reports on file, if any, or such of them as may be suitable or proper for a description of the proposed maintenance. Portions of the improvement or of the territory comprising the assessment district need not be contiguous. (Added by Stats. 1965, Ch. 1503.)
  40. 50596.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    The legislative body may decide to pay part of maintenance costs from the local agency treasury and must specify the amount paid.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. ) ## 50596. The legislative body in its discretion may, in the ordinance of intention or at any subsequent time, order that a portion of the costs and expenses of the maintenance shall be paid out of the treasury of the local agency from such fund as the legislative body may designate and the amount of such payment shall be so specified. (Added by Stats. 1965, Ch. 1503.)
  41. 50597.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    The ordinance of intention must be published as required by Section 6061, and at least 15 days before the hearing on protests or objections.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. ) ## 50597. The ordinance of intention shall be published as provided in Section 6061 and at least 15 days before the date set for hearing protests or objections. (Added by Stats. 1965, Ch. 1503.)
  42. 506.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 3. SEAT OF GOVERNMENT, POLITICAL DIVISIONS, AND LEGAL DISTANCES [450 - 559] ( Division 3 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 6. Legal Distances [500 - 559] ( Chapter 6 enacted by Stats. 1943, Ch. 134. )

    Verify source ↗

    The distance from the county seat of Calaveras County to Sacramento is 73 miles.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 3. SEAT OF GOVERNMENT, POLITICAL DIVISIONS, AND LEGAL DISTANCES [450 - 559] ( Division 3 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 6. Legal Distances [500 - 559] ( Chapter 6 enacted by Stats. 1943, Ch. 134. ) ## 506. From the county seat of Calaveras County to Sacramento it is seventy-three (73) miles. (Enacted by Stats. 1943, Ch. 134.)
  43. 5060.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. )

    Verify source ↗

    The issuer may keep registration records wherever it chooses, inside or outside the state.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. ) ## 5060. (a) Records, with regard to the ownership of or security interests in registered public obligations, are not subject to inspection or copying under any law of this state relating to the right of the public to inspect or copy public records, notwithstanding any law to the contrary. (b) Registration records of the issuer may be maintained at such locations within or without this state as the issuer shall determine. (Added by Stats. 1983, Ch. 59, Sec. 1. Effective June 2, 1983.)
  44. 50603.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    At the hearing, the legislative body may change the proposed maintenance or district boundaries, and if it seeks to add land it must pass a resolution and give notice. The clerk must mail a notice of intention to affected persons, and the notice must describe the change, state the hearing time, and be published as required.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. ) ## 50603. At the hearing the legislative body may order changes in the proposed maintenance or the proposed boundaries of the district by the elimination of any portion thereof which will not in its opinion be benefited by the work proposed to be done. If the legislative body proposes a change in the boundaries to include additional land in the district, the legislative body shall adopt a resolution briefly describing the change proposed to be made and giving notice of the time and place when and where any interested person may object to such change. The clerk shall mail a copy of a notice of intention to do so to each person described in Section 50598 included in the area proposed to be added, within the time and in the manner set forth in Section 50598. The notice shall describe the proposed change and specify the time for hearing objections. The notice shall also be published in the time and manner provided for in Section 50597. (Added by Stats. 1965, Ch. 1503.)
  45. 50604.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    When district boundaries are changed, objections from owners of land excluded by the change are not counted toward a majority protest.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. ) ## 50604. If the boundaries are changed, objections or protests made by owners of land excluded by the change shall not be counted in computing a majority protest, but written objections or protests to the things proposed to be done as an entirety made by owners of the remaining assessable land in the district, including assessable land added by a change, and filed with the clerk not later than the time set for hearing objections to the proposed change, shall be included in computing a majority protest. (Added by Stats. 1965, Ch. 1503.)
  46. 50605.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    The legislative body may decide objections or protests, but if there is a majority protest against a boundary change adding land, it cannot order that change.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. ) ## 50605. Except in the case of a majority protest, the legislative body may sustain or deny any or all objections or protests and its determination is final. The determination shall be entered upon the minutes. If the protests are denied or if no protests are filed, the legislative body shall immediately acquire jurisdiction to form the district and to order the maintenance, as proposed or as changed, to be done and to proceed further in accordance with the provisions of this chapter. In the event there is a majority protest against a change of boundaries to include additional land, as provided for in Section 50603, no such change shall be ordered by the legislative body. (Added by Stats. 1965, Ch. 1503.)
  47. 50606.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    If the legislative body chooses to proceed, it must create the district by ordinance and set its boundaries, purpose, open areas, maintenance work, and funding by annual assessments on land in the district.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. ) ## 50606. If the legislative body decides to proceed, it shall by ordinance fix and establish the boundaries of the district, declare that the district is formed pursuant to this chapter, describe the open areas to be maintained by the district, order the maintenance to be performed and provide that the cost and expense of doing the maintenance shall be paid by annual assessments upon the land within the district. The ordinance forming the district shall be final and conclusive on all persons in all particulars. (Amended by Stats. 2000, Ch. 262, Sec. 25. Effective January 1, 2001.)
  48. 50607.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    Late objections and late challenges to district formation are barred, and appeals must be perfected within 30 days.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 2. Formation of District [50590 - 50607] ( Article 2 added by Stats. 1965, Ch. 1503. ) ## 50607. Any objections or protests not made at the time and in the manner provided for by this chapter are deemed waived voluntarily. The validity of proceedings taken under this chapter shall not be attacked subsequent to the hearing upon any ground not stated in an objection or protest filed pursuant to this chapter. Any landowner or person interested in any land within the district is estopped to attack the proceedings upon any ground not stated in a protest filed by him pursuant to this chapter. The validity of the formation of a district formed pursuant to this chapter shall not be contested in any action or proceeding unless the action or proceeding is commenced within 30 days after the time the district is formed. Any appeal from a final judgment in such an action or proceeding must be perfected within 30 days after the entry of the judgment. Any defect, error, or informality in the petition, the clerk’s certificate, the publication, posting, or mailing of notices, or failure of the landowner or person interested in the land to receive notice shall not invalidate any proceeding pursuant to this chapter. (Added by Stats. 1965, Ch. 1503.)
  49. 5061.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. )

    Verify source ↗

    This section makes the chapter apply to a registered public obligation unless the issuer’s official or governing body decides otherwise before or at original issuance.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. ) ## 5061. (a) Unless at any time prior to or at original issuance of a registered public obligation the official or official body of the issuer determines otherwise, this chapter shall be applicable to such registered public obligation notwithstanding any provision of law to the contrary. When this chapter is applicable, no contrary provision shall apply. (b) Nothing in this chapter limits or prevents the issuance of obligations in any other form or manner authorized by law. (c) Unless determined otherwise pursuant to subdivision (a), the provisions of this chapter shall be applicable with respect to obligations which have heretofore been approved by vote, referendum, or hearing, authorizing or permitting the authorization of obligations in bearer and registered form, or in bearer form only, and such obligations need not be resubmitted for a further vote, referendum, or hearing, for the purpose of authorizing or permitting the authorization of registered public obligations pursuant to this chapter. (Added by Stats. 1983, Ch. 59, Sec. 1. Effective June 2, 1983.)
  50. 50610.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 3. Administrative Provisions [50610 - 50615] ( Article 3 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    The legislative body controls the open areas, may appoint a five-member advisory board of property owners, and board members serve without pay for three years.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 3. Administrative Provisions [50610 - 50615] ( Article 3 added by Stats. 1965, Ch. 1503. ) ## 50610. The legislative body shall have complete charge, supervision and control of all open areas maintained pursuant to the provisions of this chapter. The legislative body may appoint an advisory board composed of five property owners within a district, which advisory board may make recommendations to the legislative body with respect to the maintenance and operation of the open areas. Members of the board shall serve without compensation and shall hold office for a term of three years from the date of their appointment. (Added by Stats. 1965, Ch. 1503.)
  51. 50611.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 3. Administrative Provisions [50610 - 50615] ( Article 3 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    The legislative body may contract for maintenance, arrange for the work to be done by the local agency, hire labor, and buy needed materials and equipment, and it must ensure the maintenance is performed or furnished.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 3. Administrative Provisions [50610 - 50615] ( Article 3 added by Stats. 1965, Ch. 1503. ) ## 50611. The legislative body may enter into such annual contracts as may be required for performance of the maintenance or may cause any part or parts thereof to be performed or furnished by the local agency and may employ the necessary labor and provide, by purchase order when necessary, the required materials and equipment and shall cause the maintenance to be performed or furnished. The costs and expenses of all maintenance to be done or furnished by the local agency shall be paid for from the funds of the district or out of any fund which may be provided or advanced by the legislative body for expenditure for such purposes. The payments so advanced may be reimbursed from the district funds when moneys are available therein. (Added by Stats. 1965, Ch. 1503.)
  52. 50612.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 3. Administrative Provisions [50610 - 50615] ( Article 3 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    The legislative body may set and collect an annual special assessment for a maintenance district, capped at $0.50 per $100 of assessed valuation.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 3. Administrative Provisions [50610 - 50615] ( Article 3 added by Stats. 1965, Ch. 1503. ) ## 50612. The legislative body may levy an annual ad valorem special assessment not to exceed fifty cents ($0.50) per one hundred dollars ($100) assessed valuation of taxable land and improvements within the maintenance district to pay the costs of maintenance and operation of the open areas or such portion of said costs as the legislative body determines shall be borne by the maintenance district. The legislative body may determine that all or a portion of the costs may be borne by the local agency. The annual assessments shall be levied and collected at the same time and in the same manner and with the same interest and penalties as general taxes for the local agency are collected. (Amended by Stats. 1971, Ch. 1352.)
  53. 50613.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 3. Administrative Provisions [50610 - 50615] ( Article 3 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    Special assessment proceeds must be paid to the local agency treasurer, held in a special fund for the district, and used only for chapter purposes.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 3. Administrative Provisions [50610 - 50615] ( Article 3 added by Stats. 1965, Ch. 1503. ) ## 50613. The proceeds of the annual special assessments shall be paid to the treasurer of the local agency, who shall place the proceeds in a special fund to the credit of the district and payment shall be made out of the special fund only for the purposes provided for in this chapter for the district. To expedite any maintenance work, the legislative body may at any time transfer into the special fund, out of any money in the general fund, such sums as it may deem necessary, and the sums so transferred shall be deemed as a loan to the special fund, and shall be repaid out of the proceeds of the assessments provided for in this chapter. If a district is organized in any year too late for the levy of a special assessment in that year or in the next ensuing year, the legislative body is hereby authorized to transfer funds out of the general fund of the local agency to the special fund of the district to be used for the payment of the expenses of the district until such time as special assessment receipts are available therefor. The legislative body shall include in the levy of the special assessment for the district for the first fiscal year in which the assessment may be levied or in ensuing years, a sum sufficient to repay the local agency the amount so transferred to the district for the portion or portions of the preceding fiscal year or years for which no levy of assessment was made for that purpose. The amount so transferred shall be repaid into the general fund of the local agency from the district fund out of the first available receipts from the assessment levied or as determined by the legislative body. (Added by Stats. 1965, Ch. 1503.)
  54. 50614.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 3. Administrative Provisions [50610 - 50615] ( Article 3 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    If district assessment funds are deficient, the legislative body may cover the shortfall from the general fund or advance money to be repaid from future assessment proceeds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 3. Administrative Provisions [50610 - 50615] ( Article 3 added by Stats. 1965, Ch. 1503. ) ## 50614. If for any reason there shall be a deficiency in the funds derived from the annual assessments levied for the district, the legislative body may meet the deficiency by an appropriation out of the general fund or may advance such sums, to be repaid out of the proceeds of the annual assessment for the next or ensuing years, as deemed appropriate by the legislative body. (Added by Stats. 1965, Ch. 1503.)
  55. 50615.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 3. Administrative Provisions [50610 - 50615] ( Article 3 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    Unused district maintenance funds must be carried forward to the next maintenance period, and they may be kept in the fund if maintenance is not ordered or reordered.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 3. Administrative Provisions [50610 - 50615] ( Article 3 added by Stats. 1965, Ch. 1503. ) ## 50615. Any unexpended balance remaining in the special fund for the district after the payment of the costs and expenses of the maintenance for which the assessment was levied shall be credited to the fund to be raised for the next ensuing period of maintenance for the district. Whenever the legislative body does not order or reorder maintenance as authorized in this chapter, any such unexpended balance may be retained in the fund to be used, until exhausted, to defray the costs and expenses of maintaining and caring for the open spaces benefiting the district for which the annual assessment had been levied. (Added by Stats. 1965, Ch. 1503.)
  56. 5062.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. )

    Verify source ↗

    This chapter must be read together with the Uniform Commercial Code and contract-law principles for registering and transferring obligations.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000 - 5979] ( Division 6 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 1.5. Registered Public Obligations [5050 - 5062] ( Chapter 1.5 added by Stats. 1983, Ch. 59, Sec. 1. ) ## 5062. This chapter shall be construed in conjunction with the Uniform Commercial Code and the principles of contract law relative to the registration and transfer of obligations. (Added by Stats. 1983, Ch. 59, Sec. 1. Effective June 2, 1983.)
  57. 50620.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    A district’s boundaries may be changed, and territory may be annexed, if the legislative body follows resolution and hearing requirements.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. ) ## 50620. The boundaries of any district may be altered, and contiguous or noncontiguous territory may be annexed thereto. The legislative body may by resolution fix a time and place for hearing upon the question of annexation of such territory to an existing district. The resolution shall describe the boundaries of the territory proposed to be annexed. The legislative body may by resolution determine that each parcel of territory annexed or to be annexed to a district should pay its proportionate share of the cost of any improvements constructed prior to such annexation. No such parcel may be annexed until the full amount of its contribution has been determined and paid. All such amounts paid to the local agency shall be placed in the special fund of the district and may be used for the purposes for which the proceeds from the annual assessments may be used. The date set for the hearing on the proposed annexation shall be at least three weeks from and after the date of the adoption of the resolution setting the hearing. (Added by Stats. 1965, Ch. 1503.)
  58. 50621.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    Before an annexation hearing, the legislative body must direct the clerk to mail notice to affected property owners, and the clerk must file an affidavit after mailing.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. ) ## 50621. The legislative body shall direct the clerk to give notice of the time, place and purpose of the hearing, by mailing written notice to each property owner within the boundaries of the territory sought to be annexed whose name and address appears on the last equalized assessment roll. The clerk shall file, upon the completion of the mailing, an affidavit setting forth the time and manner of the compliance with this section. The notice shall be mailed at least 10 days prior to the date set for hearing. (Added by Stats. 1965, Ch. 1503.)
  59. 50622.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    The legislative body must direct the clerk to publish a notice at least 15 days before the hearing.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. ) ## 50622. The legislative body shall also direct the clerk to publish a notice as provided in Section 6061 and at least 15 days before the date set for hearing. The notice shall state the time and place of the hearing and shall contain a description of the territory proposed to be annexed, or, in lieu of such description, the boundaries of the territory proposed to be annexed may be shown by means of a diagram. An affidavit of publication shall be filed with the clerk. (Added by Stats. 1965, Ch. 1503.)
  60. 50623.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    The legislative body must hear annexation proposals and objections, may find the territory will benefit and alter district boundaries, and must stop the proceeding if enough owners file and maintain written protests.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. ) ## 50623. At the time fixed for the hearing or to which it may be continued, the legislative body shall hear and pass upon the proposal and any objections which may be filed to the inclusion of any property within the proposed annexation. The legislative body, by ordinance, may determine that the territory or any part thereof will be benefited by annexation to the district and may order that the boundaries of the district be altered to include the benefited territory. If at the hearing it appears that owners of more than one-half of the real property within the area proposed to be annexed and subject to assessment have made objection in writing to the annexation, and protests are not withdrawn so as to reduce the number of protests to less than a majority, the legislative body, by resolution entered upon its minutes, shall so find. Thereafter the legislative body shall not proceed further, and the proceeding is terminated. (Added by Stats. 1965, Ch. 1503.)
  61. 50624.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    When additional open areas are proposed for an existing district, the legislative body must adopt a resolution, set a hearing, include the estimated annual maintenance cost, and follow Section 53753 procedures if assessments increase.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. ) ## 50624. If, after the formation of a district, the addition of properties to be maintained as open areas by the existing district is proposed, the legislative body shall adopt a resolution declaring its intention that the cost of maintaining the additional open areas shall be borne by the existing district. It shall fix a time and place for a hearing on the resolution, at which hearing any and all persons having any objections to the things proposed to be done may appear and be heard. The resolution shall contain the statement of the estimated annual cost of maintaining the additional open areas. If new or increased assessments are proposed, the legislative body shall comply with the notice, protest, and hearing procedures pursuant to Section 53753. (Amended by Stats. 2000, Ch. 262, Sec. 26. Effective January 1, 2001.)
  62. 50626.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    A legislative body may set a hearing date by resolution for withdrawing a district portion, and must publish and post notice before the hearing.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. ) ## 50626. Any portion of any district which will not be benefited by remaining within the district may be withdrawn therefrom. The legislative body may by resolution fix a time for a hearing on the question of the withdrawal of any portion of a district which will not be benefited by remaining within the district. The time for the hearing shall be not less than 10 or more than 30 days after the date of the adoption of the resolution. The legislative body shall, at least 10 days prior to the time so fixed, cause a notice of such hearing to be published as provided in Section 6061. Copies of the notice shall also be posted at least 10 days prior to the date fixed for hearing in at least three conspicuous places within that portion of the district sought to be withdrawn and in at least three conspicuous places within the remaining portion of the district. (Added by Stats. 1965, Ch. 1503.)
  63. 50627.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    At the hearing, any interested person may appear and object to the withdrawal or to the remaining territory continuing as a district.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. ) ## 50627. Any person interested may appear at the hearing and object to the withdrawal of the portion from the district or may object to the continuance of the remaining territory as a district. The legislative body shall consider and pass upon all objections and if it finds that the portion of the district sought to be withdrawn will not be benefited by remaining within the district and that the remaining territory not sought to be withdrawn will be benefited by continuing as a maintenance district, then it shall by ordinance order the withdrawal and the continuance of the remaining territory as a district. (Added by Stats. 1965, Ch. 1503.)
  64. 50628.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. )

    Verify source ↗

    This chapter must be read liberally to carry out its purposes, and if part of the chapter is invalid, the rest can still apply when it can work without the invalid part.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 2.5. Open Space Maintenance Districts [50575 - 50628] ( Chapter 2.5 added by Stats. 1965, Ch. 1503. ) ## ARTICLE 4. Annexations, Additions and Withdrawals [50620 - 50628] ( Article 4 added by Stats. 1965, Ch. 1503. ) ## 50628. This chapter shall be liberally construed in order to effectuate its purposes. If any provision of this chapter or the application thereof to any person, property, or circumstances is held invalid, such invalidity shall not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable. (Added by Stats. 1965, Ch. 1503.)
  65. 50630.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 2. Registration of Bonds [50630 - 50633] ( Article 2 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    If a local agency treasurer is presented with a bond or interest coupon for payment and cannot pay it for lack of funds, the treasurer must mark it accordingly, record the presentation date and order, and sign or stamp it.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 2. Registration of Bonds [50630 - 50633] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 50630. When a bond or interest coupon payable from funds in the custody of the treasurer of a local agency is presented to him for payment and is not paid for want of funds, he shall endorse upon it “Not paid for want of funds,” the date of presentation, and a serial number indicating the order of presentation, and shall sign or stamp his name thereon. (Added by Stats. 1949, Ch. 81.)
  66. 50631.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 2. Registration of Bonds [50630 - 50633] ( Article 2 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The treasurer must set aside enough money to pay registered bonds and coupons, notify the owner or holder by registered mail, and pay them in registration order.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 2. Registration of Bonds [50630 - 50633] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 50631. Upon receipt of the first money in the treasury applicable to their payment, the treasurer shall set apart the amount necessary to pay the registered bonds and coupons. He shall give notice by registered mail to the owner or holder of the registered bonds and coupons, at the address last filed, stating that he is ready to pay them. The bonds and coupons shall be paid from such money in the order of their registration. (Added by Stats. 1949, Ch. 81.)
  67. 50632.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 2. Registration of Bonds [50630 - 50633] ( Article 2 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    If registered bonds and coupons are not presented for payment within 30 days after the notice is mailed, the treasurer must apply the set-aside fund to pay the unpaid registered bonds and coupons next in order until all have been called.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 2. Registration of Bonds [50630 - 50633] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 50632. If the registered bonds and coupons are not presented for payment within thirty days from mailing of the notice the treasurer shall apply the fund set aside to the payment of the unpaid registered bonds and coupons next in order, until all registered bonds and coupons have been called. (Added by Stats. 1949, Ch. 81.)
  68. 50633.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 2. Registration of Bonds [50630 - 50633] ( Article 2 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A treasurer responsible for paying interest on certain bonds must keep a register and, when an interest coupon is presented, enter the owner or holder’s name and address and the bond’s number and amount.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 2. Registration of Bonds [50630 - 50633] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 50633. Upon the direction of the legislative body, the treasurer, having the duty of paying the interest on an issue of ad valorem special assessment district improvement bonds, shall keep a register. Upon presentation of an interest coupon of such bond, he shall enter in the register the name and address of the owner or holder and the number and amount of the bond. (Added by Stats. 1949, Ch. 81.)
  69. 50660.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 3. Negotiability [50660 - 50663] ( Article 3 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    For this article, “local agency” includes any board or department of the local agency.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 3. Negotiability [50660 - 50663] ( Article 3 added by Stats. 1949, Ch. 81. ) ## 50660. As used in this article, “local agency” includes any board or department of the local agency. (Added by Stats. 1949, Ch. 81.)
  70. 50661.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 3. Negotiability [50660 - 50663] ( Article 3 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    This article defines “bond” to mean a revenue bond or other evidence of indebtedness, but not attached coupons.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 3. Negotiability [50660 - 50663] ( Article 3 added by Stats. 1949, Ch. 81. ) ## 50661. As used in this article, “bond” means revenue bond or other evidences of indebtedness but not attached coupons. (Added by Stats. 1949, Ch. 81.)
  71. 50662.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 3. Negotiability [50660 - 50663] ( Article 3 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A charter-authorized local agency may issue certain revenue-backed bonds and interest coupons in negotiable form.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 3. Negotiability [50660 - 50663] ( Article 3 added by Stats. 1949, Ch. 81. ) ## 50662. When a local agency is authorized by charter to issue bonds payable solely from revenues of a municipal utility or a special fund, in negotiable form, the local agency may issue the bonds and any coupons for interest thereon in negotiable form, and they are negotiable instruments for all purposes. (Amended by Stats. 1951, Ch. 110.)
  72. 50663.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 3. Negotiability [50660 - 50663] ( Article 3 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may set bond-signature, registration, payment, and deposit arrangements when issuing bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 3. Negotiability [50660 - 50663] ( Article 3 added by Stats. 1949, Ch. 81. ) ## 50663. In issuing the bonds, the local agency may provide: (a) (1) That the required signatures to the bonds may be by facsimile, except that at least one signature to the bonds shall be by autograph. (2) Notwithstanding paragraph (1), the local agency may, in its discretion, determine that all of the required signatures shall be by facsimile, provided, however, that the bonds shall not be valid or become obligatory for any purpose until manually signed by an authenticating agent duly appointed by the governing board of the local agency or its authorized designee. (b) For the registration of the bonds or coupons. (c) For making the bonds and coupons payable by the treasurer of the local agency or an agency established for the purpose by the local agency at one or more points within or without the state upon presentation and surrender and without demand and approval required by charter for claims against the local agency. (d) For the deposit with the agency of money from the fund from which the bonds and coupons are payable, for their payment upon presentation and surrender to the agency. (Amended by Stats. 1988, Ch. 1055, Sec. 5.)
  73. 50665.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    This section defines terms used in the limited obligation bonds article, including local agency, legislative body, revenues, pledged revenue, limited obligation bonds, initiating resolution, and resolution.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.1. As used in this article: (a) “Local agency” means any county, city, or city and county, including a chartered city, or special district, including a school district. (b) “Legislative body” means the city council in the case of a city, and the board of supervisors in the case of a county. (c) “Revenues” means the funds received by a local agency from any source or combination of sources, which a local agency is not precluded by any other provision of law from using for the purposes of this article. “Revenues” include the proceeds of ad valorem taxes on real property levied by, or allocated to, the local agency, and the proceeds of sales and use taxes. (d) “Pledged revenue” means a specified annual dollar amount from a specified source or combination of sources of revenue, which the legislative body of a local agency, in a resolution providing for the issuance of limited obligation bonds, has designated and pledged as security for the bonds in accordance with Section 50665.7. (e) “Limited obligation bonds” are bonds issued by a local agency which are to be paid solely from pledged revenue. (f) “Initiating resolution” means a resolution by which a legislative body determines that public interest or necessity demands the issuance of bonds. (g) “Resolution” means a resolution by which a legislative body authorizes the issuance, sale, and delivery of bonds. (Amended by Stats. 1987, Ch. 1388, Sec. 1.)
  74. 50665.10.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    An election required under this article must be conducted like other local agency elections, unless the initiating resolution says otherwise.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.10. Except as otherwise provided in the initiating resolution, any election required under this article shall be conducted as other elections of the local agency. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  75. 50665.11.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    When two or more propositions to incur debt are on the same ballot, the votes for and against each one must be counted separately.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.11. When two or more propositions for incurring indebtedness are submitted at the same election, the votes cast for and against each proposition shall be counted separately. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  76. 50665.12.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    If two-thirds of voters approve a proposition under this article, the legislative body may approve the bonds by resolution and majority vote.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.12. If two-thirds of the voters voting on a proposition initiated pursuant to this article vote for it, the legislative body may, by majority vote, adopt a resolution approving the issuance, sale, and delivery of the bonds. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  77. 50665.13.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    Before a private bond sale is approved, the issuing entity’s legislative body must hire an investment firm with no similar underwriting relationship in the past three years.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.13. The bonds shall bear interest at a rate or rates not exceeding the maximum rate authorized by Section 53531, may be payable at the time or times, may be in one or more series, may bear a date or dates, may mature at a time or times not exceeding 31 years from their respective dates, may be payable in the medium of payment at a place or places, may carry the registration privileges, may be subject to the terms of redemption at the premiums, may be executed in a manner, may contain those terms, covenants and conditions, and may be in the form, either coupon or registered, as the resolution authorizing the bonds may provide. The bonds may be sold at public or private sale in the manner and upon the terms as may be provided in the resolution. Pending the preparation of definitive bonds, interim receipts or certificates, in the form and with those provisions as may be provided in the resolution, may be issued to the purchaser or purchasers of bonds sold pursuant to this article. The bonds and interim receipts or certificates shall be deemed to be securities and negotiable instruments within the meaning and for all purposes of the Uniform Commercial Code of this state, subject to the provisions for registration thereof contained in the resolution. Prior to approving the sale of bonds at a private sale, the legislative body of the issuing entity shall retain an investment firm which has had no prior underwriting relationship with the issuing entity on a similar bond issue within the previous three years to analyze the terms and conditions of the proposed bond issue. The bonds shall be sold at private sale only if the investment firm determines and reports to the legislative body that it has found the following to be true: (a) The underwriter’s price differential is reasonable. (b) The final negotiated offering is consistent with common practices in the industry and is comparable to other bond offerings of a comparable amount that have been offered within the previous six months. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  78. 50665.14.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The bonds are special obligations of the local agency and are secured by a lien, payable from the revenues and funds named in the bond resolution.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.14. The bonds are special obligations of the local agency and shall be a charge against and are secured by a lien upon and shall be payable, as to the principal thereof and interest thereon, and any premiums upon the redemption thereof, from the revenues and such funds as are described in the resolution authorizing the issuance of the bonds. If funds and revenues described in the authorizing resolution are insufficient for the payment of interest and principal on the bonds, the local agency, at its discretion, may make such payments from any other funds or revenues that may be legally applied to their payment. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  79. 50665.2.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A local agency may issue limited obligation bonds for certain public works, improvements, and related land or easement acquisition.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.2. Limited obligation bonds may be issued for the acquisition, installation, construction, or improving of any or all public works or improvements which the local agency is otherwise authorized to acquire, install, construct, or improve, and for the acquisition of lands and easements therefor. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  80. 50665.3.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The legislative body may count certain project, bond issuance, reserve, and interest costs when deciding how much bonds to issue.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.3. In determining the amount of bonds to be issued, the legislative body may include: (a) All costs and estimated costs incidental to or connected with the acquisition, construction, improving, or financing of the public works or improvements. (b) All engineering, inspection, legal, and fiscal agent’s fees, all costs of the bond election and of the issuance of limited obligation bonds, all bond reserve funds, and all bond interest estimated to accrue during the construction period and for a period determined by the legislative body after completion of construction. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  81. 50665.4.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    Proceedings start when the legislative body passes an initiating resolution by majority vote of all members.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.4. Proceedings are initiated when the legislative body passes an initiating resolution by a majority vote of all its members. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  82. 50665.5.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    Local agencies must include specified items in an initiating resolution for limited obligation bonds, and may limit the revenue pledge to a specified area.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.5. For all local agencies, the initiating resolution shall recite each of the following: (a) That the initiating resolution is being adopted pursuant to the powers granted by this article. (b) The object and purpose of incurring the indebtedness. (c) The estimated cost of the public improvements. (d) The maximum amount of the indebtedness. (e) A maximum rate of interest on the indebtedness. (f) (1) A pledge by the local agency that any bonds issued pursuant to the initiating resolution shall be secured by all or part of the revenues received by the local agency. (2) The local agency may restrict the pledge to the revenues received by the local agency from a specified geographical area that is within the local agency’s exterior boundaries. The legal description of the boundaries of the geographical area shall be contained in the resolution. (g) The date of the election. (h) The manner of holding the election and the procedure for voting for or against the proposition. (Amended by Stats. 2007, Ch. 25, Sec. 1. Effective January 1, 2008.)
  83. 50665.6.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The initiating resolution must be published once in a newspaper of general circulation in the local agency, or posted in a public place if no such newspaper exists.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.6. The initiating resolution shall be published once in a newspaper of general circulation in the local agency. If there is no such newspaper, it shall be posted in a public place within the jurisdiction of the local agency. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  84. 50665.7.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    Limited obligation bonds and the issuing resolution must say the bonds are payable only from pledged local agency revenues, and the resolution must identify the amount and source of that pledged revenue.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.7. The bonds and the resolution providing for their issuance shall state that the bonds are limited obligation bonds payable solely from revenues of the local agency pledged for that purpose. In addition, the resolution of the legislative body providing for the issuance of limited obligation bonds shall specify the amount and source of revenue pledged therefor. The pledged revenue shall be sufficient to pay the following amounts annually, as they become due and payable: (a) The interest on and the principal on the bonds. (b) All payments required for compliance with the resolution authorizing issuance of the bonds or any other contract with the bondholders, including the creation of a sinking fund and reserve funds. (c) All payments to meet any other obligations of the local agency which are charges, liens, or encumbrances on the pledged revenue. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  85. 50665.8.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A proposition to incur bonded debt must be submitted to the qualified voters of the local agency at an election held for that purpose.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.8. The proposition for incurring a bonded debt shall be submitted to the qualified voters of the local agency at an election held for that purpose. The election may be consolidated with any other election of the local agency. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  86. 50665.9.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A proposition seeking voter approval for limited obligation bonds must say the bonds are payable only from pledged revenue and identify the source and amount of that revenue.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50665.9. A proposition to be submitted to the voters of a local agency for approval of the issuance of limited obligation bonds shall state that the bonds are limited obligation bonds to be paid solely from pledged revenue, and shall specify the source and amount of the pledged revenue. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  87. 50666.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The legislative body may, by resolution, pledge, charge, and assign revenues to secure the bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50666. By resolution, the legislative body may pledge, place a charge upon, and assign all or any part of the revenues for the security of the bonds. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  88. 50666.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The bonds’ interest, principal, and any redemption premium are secured by an exclusive pledge, charge, and lien on all revenues.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50666.1. The payment of interest on and principal of the bonds and any premiums upon the redemption of any thereof are secured by an exclusive pledge, charge, and lien upon all of the revenues. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  89. 50666.2.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    Revenues and interest earned on them are treated as a trust fund to secure payment of bond interest and principal.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50666.2. The revenues and any interest earned on the revenues constitute a trust fund for the security and payment of the interest on and principal of the bonds. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  90. 50666.3.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    If bonds or interest remain unpaid after maturity, the revenues and interest cannot be used for any other purpose.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50666.3. So long as any bonds or interest thereon are unpaid following their maturity, the revenues and interest thereon shall not be used for any other purpose. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  91. 50666.4.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    If the bonds and related charges are paid on time, other amounts may be apportioned from the revenues.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50666.4. If the interest and principal of the bonds and all charges to protect or secure them are paid when due, an amount or amounts for other purposes may be apportioned from the revenues. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  92. 50666.5.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A local agency may issue different series of bonds and set some series to be junior in payment and security, if the resolution says so.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50666.5. Bonds of the same issue shall be equally secured by a pledge, charge, and lien upon the revenues specified in the resolution authorizing the issuance of the bonds, without priority for number, date of bonds, of sale, of execution, or of delivery pursuant to this article and the resolution authorizing the issuance of the bonds; except that any local agency may authorize the issuance of bonds of different series and may provide that the bonds in any series shall, to the extent and in the manner prescribed in the resolution, be subordinated and be junior in standing, with respect to the payment of principal and interest and the security thereof, to such other bonds as may be specified in the resolution. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  93. 50666.6.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A local agency’s general fund is not liable for paying the bonds or their interest.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50666.6. The general fund of a local agency is not liable for the payment of the bonds or their interest. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  94. 50666.7.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The local agency’s general credit or taxing power is not liable for payment of the bonds or their interest, except for the revenues that have been pledged.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50666.7. The general credit or taxing power of the local agency, other than the revenues pledged, is not liable for the payment of the bonds or their interest. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  95. 50666.8.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The bondholder may not force the local agency to use its taxing power or forfeit its property, except as to the pledged revenues.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50666.8. The holder of the bonds shall not compel the exercise of the taxing power by the local agency, other than the revenues pledged, or the forfeiture of its property. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  96. 50666.9.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The principal and interest on these bonds, and any redemption premiums, are not a debt of the local agency and are not a lien or charge on its property or revenues, except for revenues that were pledged to pay them.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50666.9. The principal of, and interest on, the bonds and any premiums upon the redemption of any thereof are not a debt of the local agency, nor a legal or equitable pledge, charge, lien, or encumbrance, upon any of its property, or upon any of its income, receipts, or revenues except the revenues that have been pledged to their payment. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  97. 50667.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    Each bond must state that principal and interest are payable only from pledged revenues, and that the local agency is not otherwise obligated to pay them.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50667. Every bond shall recite in substance that the principal of, and interest on, the bond are payable solely from the revenues pledged to the payment of the principal and interest and that the local agency is not obligated to pay the principal or interest except from the pledged revenues. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  98. 50667.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The bonds and related interest or income are exempt from state taxation, except for certain franchise, gift, inheritance, and estate taxes.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50667.1. The bonds and, any interest on, or income from, the bonds are exempt from taxation in this state, except from bank and corporation franchise, gift, inheritance, and estate taxes. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  99. 50667.2.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The legislative body may include authorized article provisions in a bond resolution.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50667.2. In the resolution authorizing the bonds, the legislative body may insert any of the provisions authorized by this article, which shall become a part of the contract with the bondholders. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  100. 50667.3.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The legislative body may set limits on how bond sale proceeds are used and on issuing additional bonds for the same purpose, including their lien.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50667.3. The legislative body may provide limitations on: (a) The purpose to which the proceeds of sale of any issue of bonds may be applied. (b) The issuance of additional bonds for the same purpose and on the lien of additional bonds. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  101. 50667.4.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The legislative body may set default events and rules for declaring bonds due before maturity, including rules for waiving the declaration and its consequences.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50667.4. The legislative body may provide for events of default and terms upon which the bonds may be declared due before maturity and the terms upon which the declaration and its consequences may be waived. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  102. 50667.5.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The legislative body may set rules for rights, liabilities, powers, and duties that arise if a local agency breaches covenants, conditions, or obligations.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50667.5. The legislative body may provide for the rights, liabilities, powers, and duties arising upon the local agency’s breach of any covenants, conditions, or obligations. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  103. 50667.6.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The legislative body may authorize a trustee to enforce bond-related covenants and may limit the trustee’s liabilities.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50667.6. The legislative body may provide for the vesting in a trustee of the right to enforce covenants to secure payment of, or in relation to, the bonds and the trustee’s powers and duties, and the limitation of his or her liabilities. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  104. 50667.7.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The legislative body may set the terms under which bondholders, or some percentage of them, can enforce covenants or duties under this article.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50667.7. The legislative body may provide for the terms upon which the bondholders or any percentage of the bondholders may enforce covenants or duties imposed by this article. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  105. 50667.8.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The legislative body may include in a bond-issuance resolution a procedure for changing or отменating the resolution’s terms, if the required bondholders consent.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50667.8. The legislative body may provide in the resolution authorizing issuance of the bonds for a procedure for amending or abrogating the terms of the resolution with the consent of the holders of a specified number of the bonds. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  106. 50667.9.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A resolution with a procedure under Section 50667.8 may also include bondholder meetings or written assent without a meeting, and may set how consent is given.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50667.9. Any resolution containing a procedure specified in Section 50667.8 may also provide for meetings of bondholders or for their written assent without a meeting and the manner of consenting, with or without a meeting. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  107. 50668.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The resolution must state how an amendment affects bondholders’ rights, and that statement binds holders of bonds issued under the resolution.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50668. The resolution shall specifically state the effect of amendment upon the rights of the holders of all of the bonds and shall be binding upon the holders of all of the bonds issued pursuant to the resolution. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  108. 50668.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The legislative body may authorize other acts and things to help secure the bonds or make them more marketable.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50668.1. The legislative body may provide for any other acts and things necessary, convenient, or desirable to secure the bonds or tending to make them more marketable. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  109. 50668.2.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The local agency must pay the bonds’ principal and interest as stated in the bonds and the authorizing resolution.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50668.2. The local agency shall pay or cause to be paid the principal and interest of the bonds on the date, at the place, and in the manner mentioned in the bonds and in accordance with the resolution authorizing their issuance. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  110. 50668.3.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A separate, distinct, special fund must be created no later than bond issuance and kept continuously while any bonds or interest remain outstanding and unpaid.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50668.3. A separate, distinct, and special fund shall be created at or before the issuance of the bonds, which shall be maintained continuously during the time that any of the bonds or the interest thereon are outstanding and unpaid. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  111. 50668.4.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    Pledged revenue must be deposited into the special fund, and payments must be made from that fund in the order stated in Section 50665.7.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50668.4. All pledged revenue shall be deposited in the special fund and payments shall be made therefrom in the order specified in subdivisions (a) to (c), inclusive, of Section 50665.7. (Amended by Stats. 1985, Ch. 1199, Sec. 1.)
  112. 50668.5.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The local agency must protect bond security and bondholder rights, and defend those rights against claims and demands by others.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50668.5. The local agency shall preserve and protect the security of the bonds and the rights of the bondholders and shall warrant and defend the rights of the bondholders against all claims and demands of all persons. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  113. 50668.6.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The local agency must pay and discharge lawful claims for labor, materials, and supplies to protect bond priority and security.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50668.6. In order to fully preserve and protect the priority and security of the bonds the local agency shall pay and discharge all lawful claims for labor, materials, and supplies, which if unpaid may become a lien or charge upon the revenues prior or superior to the lien of the bonds or impair the security of the bonds. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  114. 50668.7.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A local agency must hold pledged bond revenues in trust and use them according to the bond issuance resolution, as modified.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50668.7. The local agency shall hold in trust the revenues pledged to the payment of the principal of and interest on the bonds for the benefit of the bondholders and shall apply the same pursuant to the resolution authorizing the issuance of the bonds or to the resolution as modified. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  115. 50668.8.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A local agency may invest certain reserve, sinking fund, or idle funds in eligible property or securities, but not if the investment would violate bond-related covenants or agreements.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50668.8. The local agency may invest funds held in reserve, or in any sinking fund, or funds not required for immediate disbursement, in property or securities in which the local agency may legally invest funds subject to its control. No such investment shall be made in contravention of any covenant or agreement in any resolution authorizing the issuance of any outstanding bonds. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  116. 50668.9.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A local agency must keep separate books and accounts for revenue and make complete, correct entries of all revenue-related transactions.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50668.9. The local agency shall keep proper books of record and accounts of the revenues, separate from all other records and accounts, in which complete and correct entries shall be made of all transactions relating to the revenues. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  117. 50669.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The books must be open to inspection by bondholders holding at least 10% of the outstanding bonds, or by their written representatives.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50669. At all times, the books shall be subject to the inspection of the holders of not less than 10 percent of the outstanding bonds or their representatives authorized in writing. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  118. 50669.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The local agency must publish a summary statement about bond-secured revenues, related disbursements, and a general financial statement.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50669.1. The local agency shall cause to be published a summary statement showing the amount of revenues collected which are required as security for payment of the principal of and interest on the bonds, the disbursements from such revenues in reasonable detail, and a general financial statement. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  119. 50669.2.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    The local agency must publish the statement every year within 120 days after the fiscal year ends, and must give a copy to any bondholder who asks for it.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50669.2. The statement shall be published annually, not more than 120 days after the close of each fiscal year. The local agency shall furnish a copy of the statement to any bondholder upon request. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  120. 50669.3.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A local agency may, in the bond-authorizing resolution, agree to have the statement prepared or audited by an independent certified public accountant and to set its form and detail in that resolution.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50669.3. In the resolution authorizing the bonds, the local agency may agree that the statement shall be prepared or audited by an independent certified public accountant and shall be in the form and contain the detail specified in the resolution. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  121. 50669.4.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A local agency does not have to spend funds other than pledged revenues to pay bond principal or interest under this article.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50669.4. The duties set forth in this article do not require the local agency to expend any funds other than revenues pledged to secure payment of the principal of or interest on bonds as provided in this article. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  122. 50669.5.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A fiscal or paying agent may be appointed under the procedures in Article 7.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50669.5. A fiscal or paying agent may be appointed as now, or hereafter, provided in Article 7 (commencing with Section 54550) of Chapter 6 of Division 2 of Title 5. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  123. 50669.6.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    A validating proceeding may be conducted under Chapter 9 of Title 10 of Part 2 of the Code of Civil Procedure.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50669.6. A validating proceeding may be conducted as now, or hereafter, provided in Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  124. 50669.7.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    Bondholders are entitled to the remedies provided in Article 10, starting with Section 54640.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50669.7. Bondholders shall have the remedies as now, or hereafter, provided in Article 10 (commencing with Section 54640) of Chapter 6 of Division 2 of Title 5. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  125. 50669.8.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    Bonds may be refunded using the refunding procedure set out in Article 11, starting with Section 54660.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50669.8. The bonds may be refunded in the manner now, or hereafter, provided in Article 11 (commencing with Section 54660) of Chapter 6 of Division 2 of Title 5. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  126. 50670.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    Bonds issued under this article are conclusive evidence that the related proceedings, acts, and determinations were regular, valid, and legally sufficient.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50670. All bonds issued in pursuance of the provisions of this article shall by their issuance be conclusive evidence of the regularity, validity, and legal sufficiency of all proceedings, acts, and determinations in any wise pertaining thereto, had or made hereunder. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  127. 50670.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    Challenges to the validity of proceedings under this article must be filed within 30 days after the resolution authorizing the bonds is adopted.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50670.1. Any action, suit, or proceeding of any kind or nature in which the validity of any of the proceedings taken under the provisions of this article is questioned or attacked, shall be filed within 30 days after the day of the adoption of the resolution providing for the issuance of the bonds and in case such action is not brought raising such issue within that period, then thereafter all persons whatsoever shall be barred in any action, suit, or proceeding from pleading, asserting, or claiming that any of the proceedings or other actions herein specified, were defective, faulty, or invalid in any respect. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  128. 50670.3.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    This article gives an alternative authority and procedure for its subject and says it does not affect other law on the same or a similar subject.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50670.3. This article provides an alternative authority and procedure for the subject to which it relates but does not affect any other law relating to the same or a similar subject. When proceeding under this article, its provisions only need be followed. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  129. 50670.4.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. )

    Verify source ↗

    This article must be read broadly so its purposes remain effective, and if one part is found unconstitutional, the rest stays valid.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3. Bonds [50630 - 50670.4] ( Chapter 3 added by Stats. 1949, Ch. 81. ) ## ARTICLE 4. Limited Obligation Bonds [50665.1 - 50670.4] ( Article 4 added by Stats. 1985, Ch. 320, Sec. 2. ) ## 50670.4. This article and all of its provisions shall be liberally construed to the end that the purposes of this article may be effective. If any section, subdivision, sentence, clause, or phrase of this article is for any reason held to be unconstitutional, that decision shall not affect the validity of the remaining portion of this article. It is hereby declared that this article would have been passed irrespective of the fact that any one or more sections, subdivisions, sentences, clauses, or phrases be declared unconstitutional. (Added by Stats. 1985, Ch. 320, Sec. 2.)
  130. 507.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 3. SEAT OF GOVERNMENT, POLITICAL DIVISIONS, AND LEGAL DISTANCES [450 - 559] ( Division 3 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 6. Legal Distances [500 - 559] ( Chapter 6 enacted by Stats. 1943, Ch. 134. )

    Verify source ↗

    The distance from the county seat of Colusa County to Sacramento is 77 miles.

    ## Government Code - GOV ## TITLE 1. GENERAL [100 - 7931.000] ( Title 1 enacted by Stats. 1943, Ch. 134. ) ## DIVISION 3. SEAT OF GOVERNMENT, POLITICAL DIVISIONS, AND LEGAL DISTANCES [450 - 559] ( Division 3 enacted by Stats. 1943, Ch. 134. ) ## CHAPTER 6. Legal Distances [500 - 559] ( Chapter 6 enacted by Stats. 1943, Ch. 134. ) ## 507. From the county seat of Colusa County to Sacramento it is seventy-seven (77) miles. (Enacted by Stats. 1943, Ch. 134.)
  131. 50701.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    A local agency board may issue revenue bonds for certain public improvements, but a local agency may not condemn property for this chapter.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50701. Subject to the provisions of this chapter, the board of a local agency may undertake and issue revenue bonds to finance the following public improvements: (a) The acquisition, construction, maintenance, operation, improvement and development of public golf courses, marinas, or small craft harbors, and such facilities and improvements in connection therewith as in the opinion of the board may be reasonably necessary to provide for the full, complete and convenient public use of such golf courses, marinas, or small craft harbors. (b) The acquisition, construction, maintenance and operation of facilities for the public convenience in conjunction with any public golf course, marina, or small craft harbor. A local agency may not condemn property for the purposes of this chapter. (Amended by Stats. 1958, 1st Ex. Sess., Ch. 9.)
  132. 50702.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Each separate improvement must be designated as a “project.”

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50702. Each separate improvement shall be designated as a “project.” (Added by Stats. 1957, Ch. 2066.)
  133. 50703.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    If the board thinks a project should be acquired, built, or completed, it must have a local agency officer prepare a report and must pay the report-preparation expense from available local agency funds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50703. If in the opinion of the board, it is advisable that any project be acquired, constructed or completed, in whole or in part, it shall cause a report thereon to be made by any appropriate officer or officers of the local agency, which shall include: (a) An estimate of the probable cost of the acquisition, construction and completion, including all incidental expenses, engineering, legal and administrative during the construction; (b) An estimate of probable sources of income and the amount thereof; (c) An estimate of the cost of maintenance and for the operation upon completion, including the cost of all repairs, administrative and overhead charges. The expense of the preparation of the report shall be a local agency charge and shall be paid by the board out of any funds of the local agency available therefor. (Added by Stats. 1957, Ch. 2066.)
  134. 50704.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    If the board approves the report, it may adopt a resolution finding the project is needed and may authorize revenue bonds for the project.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50704. If the report is approved by the board, the board may adopt a resolution declaring that the public interest and necessity demand the acquisition, construction or completion of the project or of a designated part thereof, the purpose, nature and extent of which shall be described in general terms, and authorizing such acquisition, construction or completion. The board may thereupon authorize the issuance of revenue bonds for the purpose of obtaining funds in an amount estimated by the board to be sufficient for such project or part thereof. (Added by Stats. 1957, Ch. 2066.)
  135. 50705.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board has full charge of authorized projects and may proceed only if funds are available.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50705. The board has full charge of the acquisition, construction and completion of all projects authorized by it and may proceed with such work subject to the availability of funds therefor. (Added by Stats. 1957, Ch. 2066.)
  136. 50706.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may start proceedings and acquire real property needed for the project. If construction or repair costs exceed $2,500, the work must be done by contract under the specified letting procedures, or the contract is void.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50706. The board may institute any proceedings and acquire all real property necessary therefor on such terms and conditions as it deems advisable. Whenever the cost of construction of any project or the cost of any repairs thereto shall exceed two thousand five hundred dollars ($2,500), such work shall be done by contract, and any contract therefor shall be void unless the same shall be let in the manner provided by Sections 25451 to 25455, inclusive in the case of a county, and Sections 37903 to 37907, inclusive, and Sections 37931 to 37935, inclusive, in the case of a city. (Added by Stats. 1957, Ch. 2066.)
  137. 50706.5.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Do not split a project under this chapter into smaller work orders or projects to avoid the chapter’s competitive-bidding rules.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50706.5. It is unlawful to split or separate into smaller work orders or projects any project undertaken pursuant to this chapter for the purpose of evading any provisions of this chapter which require such work to be done by contract after competitive bidding. Every person who wilfully violates the provisions of this section is guilty of a misdemeanor. (Added by Stats. 1957, Ch. 2066.)
  138. 50707.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Property acquired under this chapter is held in the name of the local agency, the property and related income are tax-exempt, and the board’s control over improvements may not be impaired or interfered with.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50707. Title to all property acquired under this chapter and the revenue and income therefrom shall be in the name of the local agency. The title to such property and the revenue and income therefrom including any miscellaneous revenues, sinking funds, reserve funds and other such funds and the income therefrom pledged to the payment of and interest of any bonds issued hereunder is subject to the trusts created by this chapter in favor of the bondholders. All such property and the income therefrom is exempt from all taxation by the State or by the county or by any city and county, city, municipality, district, political subdivision or public corporation thereof. The management, operation and control of all improvements acquired, constructed or completed by the board under this chapter shall be fixed in the board and the powers, rights, functions and duties of the board with respect thereto shall not be impaired or interfered with. (Added by Stats. 1957, Ch. 2066.)
  139. 50708.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    While the bonds remain outstanding and unpaid, the board has authority over operating, maintaining, controlling, repairing, constructing, altering, and improving covered projects.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50708. So long as any bonds issued are outstanding and unpaid, the operation, maintenance, control, repair, construction, alteration and improvement of any project acquired, constructed or completed under this chapter is vested in the board. (Added by Stats. 1957, Ch. 2066.)
  140. 50709.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may use bond proceeds or project revenues only for paying acquisition, construction, completion, maintenance, or insurance costs for a project under this chapter.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50709. The board may only use for the payment of the acquisition, construction, completion, maintenance, or insurance of any project undertaken under the authority of this chapter, the proceeds of revenue bonds issued and sold by the board, or the revenues from such project. (Added by Stats. 1957, Ch. 2066.)
  141. 50710.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may insure a project against accident or destruction, and any insurance money must be used to repair, rebuild, or retire related revenue bonds as agreed in the bond indenture.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50710. The board may insure against any accident to or destruction of any project or any part thereof. Any money collected on such insurance shall be used for the purpose of repairing or rebuilding the project damaged, injured or destroyed or for the retirement of any revenue bonds issued in connection therewith which may be outstanding or unredeemed, as may be agreed upon by the board in the indenture authorizing the issuance of the bonds. (Added by Stats. 1957, Ch. 2066.)
  142. 50711.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may insure against loss of revenue from any cause, and insurance proceeds must be used only to pay the bonds and interest.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50711. The board may insure against loss of revenue from any cause whatever and the proceeds of such insurance shall be used solely for the payment of the bonds and interest thereon. (Added by Stats. 1957, Ch. 2066.)
  143. 50712.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may insure against public liability or property damage for a project, and it may set insurance terms and premium payment in the bond proceedings.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50712. The board may insure against public liability or property damage in connection with any project. It may provide in the proceedings authorizing the issuance of any revenue bonds for the carrying of such or any other insurance in such amount and of such character as may be specified and for the payment of the premiums thereon. (Added by Stats. 1957, Ch. 2066.)
  144. 50713.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    This chapter is an alternative way to carry out the authorized improvements and does not restrict the board’s authority to do the same improvements another lawful way.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 1. Authority [50701 - 50713] ( Article 1 added by Stats. 1957, Ch. 2066. ) ## 50713. This chapter provides an alternative procedure to that otherwise provided by law for undertaking the improvements authorized herein and shall not operate to limit or control the authority of the board to undertake the same improvements in any other manner authorized by law. (Added by Stats. 1957, Ch. 2066.)
  145. 50715.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board must issue revenue bonds in the local agency’s name, and the bonds must say that repayment is not a debt or liability of the local agency or the State.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50715. The board shall issue revenue bonds in the name of the local agency. These bonds shall constitute obligations of the project only, and neither the payment of the principal or interest of any such bond constitutes a debt, liability or obligation of the local agency or of the State of California. All bonds issued by the board shall contain a recital on their face that neither the payment of the principal or any part thereof nor any interest thereon constitutes a debt, liability or obligation of the local agency or of the State. (Added by Stats. 1957, Ch. 2066.)
  146. 50716.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board must determine the time, form, and manner for issuing revenue bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50716. The board shall determine the time, form and manner of the issuance of revenue bonds. (Added by Stats. 1957, Ch. 2066.)
  147. 50717.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may enter into indentures for the bonds and coupons, and bondholders are bound by those indenture and chapter provisions.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50717. The board may enter into indentures providing for the aggregate principal amount, date, or dates, maturities, interest rate, denominations, form, registration transfer and interchange of such bonds and coupons, and the terms and conditions upon which the same shall be executed, issued, secured, sold, paid, redeemed, funded and refunded. Reference on the face of the bonds to such indenture by its date of adoption, or the apparent date on the face thereof, is sufficient to incorporate all of the provisions thereof and of this chapter into the body of the bonds and their appurtenant coupons. Each taker and subsequent holder of the bonds or coupons, whether the coupons are attached to or detached from the bonds, has recourse to all of the provisions of the indenture and of this chapter, and is bound thereby. (Added by Stats. 1957, Ch. 2066.)
  148. 50718.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may include covenants and agreements in a bond indenture if it thinks they are needed or advisable to better secure the bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50718. An indenture pursuant to which bonds are issued may include such covenants and agreements on the part of the board as the board deems necessary or advisible for the better security of the bonds issued thereunder. (Added by Stats. 1957, Ch. 2066.)
  149. 50719.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may include a clause requiring the board to pay principal and interest on the bonds on the dates, places, and in the manner stated in the bonds and coupons.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50719. An indenture may include a clause relating to the bonds issued thereunder requiring the board to pay or cause to be paid punctually the principal of all such bonds and the interest thereon on the date or dates, at the place or places, and in the manner mentioned in such bonds and in the coupons appertaining thereto in accordance with such indenture. (Added by Stats. 1957, Ch. 2066.)
  150. 50720.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may require the board to keep bond-funded improvements operating efficiently and economically.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50720. An indenture may include a clause relating to the bonds issued thereunder requiring the board to continuously operate all improvements acquired, constructed, or completed, in whole or in part, from the proceeds of the bonds in an efficient and economical manner. (Added by Stats. 1957, Ch. 2066.)
  151. 50721.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may include a clause requiring the board to do needed repairs, renewals, and replacements and keep the improvements in good repair.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50721. An indenture may include a clause relating to the bonds issued thereunder requiring the board to make all needful and necessary repairs, renewals and replacements to any improvements and to keep them at all times in good repair, working order and condition. (Added by Stats. 1957, Ch. 2066.)
  152. 50722.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may require the board to protect bond security and holders’ rights, and to warrant and defend those rights.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50722. An indenture may include a clause relating to the bonds issued thereunder requiring the board to preserve and protect the security of the bonds and the rights of the holders thereof and to warrant and defend such rights. (Added by Stats. 1957, Ch. 2066.)
  153. 50723.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may require the board to pay certain lawful claims from available funds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50723. An indenture may include a clause relating to the bonds issued thereunder requiring the board to pay and discharge or cause to be paid and discharged from the funds available for that purpose all lawful claims for labor, materials and supplies or other charges which, if unpaid, might become a lien or charge upon the revenues, or any part thereof, of any improvements acquired, constructed or completed from the proceeds of the sale of the bonds, or upon any of the physical properties thereof which might impair the security of the bonds. (Added by Stats. 1957, Ch. 2066.)
  154. 50724.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may limit the board’s power to deal with bond-funded improvements and related leases or agreements.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50724. An indenture may include a clause relating to the bonds issued thereunder which limits, restricts, or prohibits any right, power or privilege of the board to mortgage or otherwise encumber, sell, lease or dispose of any improvements constructed from the proceeds of the bonds, or to enter into any lease or agreement which impairs or impedes the operation of such improvement, or any part thereof, necessary to secure adequate revenues or which otherwise impairs or impedes the rights of the holders of the bonds with respect to such revenues. (Added by Stats. 1957, Ch. 2066.)
  155. 50725.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may include a clause that requires the board to set and collect charges for services and facilities tied to the financed improvements.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50725. An indenture may include a clause relating to the bonds issued thereunder requiring the board to fix, prescribe and collect fees, rates, tolls, rentals or other charges in connection with the services and facilities furnished from the improvements acquired, constructed or purchased from part or all of the proceeds of the bonds, sufficient to pay the principal of and interest on the bonds as they become due and payable, together with all expenses of operation, maintenance and repair of the improvements, and with such additional sums as may be required for any sinking fund, reserve fund or other special fund provided for the further security of such bonds or as a depreciation charge or other charge in connection with such improvement. (Added by Stats. 1957, Ch. 2066.)
  156. 50726.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may include a clause that requires the board to hold pledged bond revenues in trust and use them only as the indenture allows.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50726. An indenture may include a clause relating to the bonds issued thereunder requiring the board to hold in trust the revenues pledged to the payment of such bonds and the interest thereon, or to any reserve or other fund created for the further protection of the bonds, and to apply such revenues or cause them to be applied only as provided in the indenture. (Added by Stats. 1957, Ch. 2066.)
  157. 50727.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may limit the board’s power to use bond-sale proceeds for specified improvements.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50727. An indenture may include a clause limiting the power of the board to apply the proceeds of the sale of any issue of bonds for the acquiring, constructing, or completing of any improvement or any part thereof, or more than one of such improvements. (Added by Stats. 1957, Ch. 2066.)
  158. 50728.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may include a clause that limits the board’s power to issue additional bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50728. An indenture may include a clause limiting the power of the board to issue additional bonds for the purpose of acquiring, constructing or completing any improvement or any part thereof. (Added by Stats. 1957, Ch. 2066.)
  159. 50729.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may include an insurance clause for improvements and insurance proceeds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50729. An indenture may include a clause requiring, specifying or limiting the kind, amount and character of insurance to be maintained by the board on any improvement, or any part thereof, and the use and disposition of the proceeds of any such insurance thereafter collected. (Added by Stats. 1957, Ch. 2066.)
  160. 50730.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may include default terms for bonds, including when bonds can be accelerated before maturity and when that acceleration can be waived.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50730. An indenture may include a clause providing the events of default and the terms and conditions upon which any or all of the bonds then or thereafter issued may become or be declared due and payable prior to maturity, and the terms and conditions upon which such declaration and its consequences may be waived. (Added by Stats. 1957, Ch. 2066.)
  161. 50731.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may include a clause about rights, limitations, powers, and duties that apply if the board breaches covenants, conditions, or obligations.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50731. An indenture may include a clause designating the rights, limitations, powers and duties arising upon breach by the board of any of the covenants, conditions, or obligations contained in any indenture. (Added by Stats. 1957, Ch. 2066.)
  162. 50732.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may include a clause for later amendment or modification with board consent and bondholder approval, and the board may treat certain publicly held bonds as not outstanding and not entitled to vote or assent.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50732. An indenture may include a clause prescribing a procedure by which the terms and conditions of the indenture may be subsequently amended or modified with the consent of the board and the vote or written assent of the holders of a specified principal amount of the bonds issued and outstanding. Such clause may provide for meetings of bondholders and for the manner in which the consent of the bondholders may be given. The clause shall specifically state the effect of such amendment or modification upon the rights of the holders of all of the bonds and interest coupons appertaining thereto, whether attached thereto or detached therefrom. With respect to any clause providing for the modification or amendment of an indenture, the board may agree that bonds held by the board, by any department, political subdivision or agency of the State of California, or by any public corporation, municipality, district or political subdivision shall not be counted as outstanding bonds, or be entitled to vote or assent but shall nevertheless, be subject to any such modification or amendment. (Added by Stats. 1957, Ch. 2066.)
  163. 50733.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An indenture may include additional clauses needed or helpful to secure the bonds or make them more marketable.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50733. The indenture may include a clause providing for such other acts and matters as may be necessary or convenient or desirable in order to secure the bonds or to make the bonds more marketable. (Added by Stats. 1957, Ch. 2066.)
  164. 50734.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may appoint a qualified bank or trust company as trustee for bond holders and may let that trustee act and enforce rights for the holders.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50734. The board may designate a bank or trust company, qualified to do business in this State, as a trustee for the holders of bonds issued hereunder, and may authorize the trustee to act on behalf of the holders of the bonds, or any stated percentage thereof, and to exercise and prosecute on behalf of the holders of the bonds such rights and remedies as may be available to the holders. (Added by Stats. 1957, Ch. 2066.)
  165. 50735.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board must set the conditions for a trustee to receive, hold, or disburse revenues and must define the trustee’s duties and powers for bond payments, redemption, registration, and related funds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50735. The board shall fix and determine the conditions upon which any trustee shall receive, hold or disburse any or all revenues collected for or on account of the bondholders. The board shall prescribe the duties and powers of such trustee with respect to the payment of principal and interest on the bonds, the redemption of the bonds, the registration and discharge from registration of the bonds, and the management of any sinking fund or other funds provided as security for the bonds. (Added by Stats. 1957, Ch. 2066.)
  166. 50736.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may issue bonds in series or split an issue into divisions, and set different maturities, interest rates, and other terms.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50736. The board may issue bonds in series or may divide any issue into one or more divisions and fix different maturities or dates of such bonds, different rates of interest, or prescribe different terms and conditions for the bonds of the several series or divisions. It is not necessary that all bonds of the same authorized issue be of the same kind or character, have the same security, or be of the same interest rate, but the terms thereof shall in each case be provided for by the board, at or prior to the issue thereof. The board may provide for successive issues or may provide for one maximum issue. (Added by Stats. 1957, Ch. 2066.)
  167. 50737.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may decide how revenue bonds are issued and may allow coupon bonds and registered bonds to be exchanged.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50737. Bonds may be issued as coupon bonds or as registered bonds. The board may provide for the interchange of coupon bonds for registered bonds and registered bonds for coupon bonds, and may provide that the bonds shall be registered as to principal only, or as to both principal and interest, or otherwise as the board may determine. (Added by Stats. 1957, Ch. 2066.)
  168. 50738.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Bonds may bear interest of up to 8% per year, and the board may set interest limitations or restrictions before the bonds are issued.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50738. Bonds shall bear interest at a rate of not to exceed 8 percent per annum, payable annually or semiannually or in part annually and in part semiannually. Prior to the issuance of bonds the board may fix limitations or restrictions on the payment of interest. (Amended by Stats. 1975, Ch. 130.)
  169. 50739.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Revenue bonds may be made callable on terms the board sets, including notice and premium, but they cannot be called or redeemed before maturity unless that right is stated on the bond.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50739. Bonds may be callable upon such terms, conditions, and upon such notice as the board may determine, and upon the payment of the premium fixed by the board in the proceedings for the issuance of the bonds. No bond is subject to call or redemption prior to its fixed maturity date unless the right to exercise such call is expressly stated on the face of the bond. (Added by Stats. 1957, Ch. 2066.)
  170. 50740.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may arrange to pay bond principal and interest at any place inside or outside California, and in specified U.S. coin or currency.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50740. The board may provide for the payment of the principal and interest of bonds at any place within or without the State of California, and in specified coin or currency of the United States. (Added by Stats. 1957, Ch. 2066.)
  171. 50741.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may allow bonds to be executed and authenticated with manual, lithographed, or printed facsimile signatures of board officers.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50741. The board may provide for the execution and authentication of bonds by the manual, lithographed or printed facsimile signature of officers of the board. If any of the officers whose signatures or countersignatures appear upon the bonds or coupons cease to be officers before the delivery of the bonds or coupons, their signatures or countersignatures are nevertheless valid and of the same force and effect as if the officers had remained in office until the delivery of the bonds and coupons. (Added by Stats. 1957, Ch. 2066.)
  172. 50742.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Bonds must bear dates set by the board, the board may set maturities for certain bond types, and no bond may mature more than 50 years from its own date.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50742. Bonds shall bear dates prescribed by the board. Bonds may be serial bonds or sinking fund bonds with such maturities as the board may determine. No bond by its terms shall mature in more than 50 years from its own date and in the event any authorized issue is divided into two or more series or divisions, the maximum maturity date herein authorized shall be calculated from the date on the face of each bond separately, irrespective of the fact that different dates may be prescribed for the bonds of each separate series or division of any authorized issue. (Added by Stats. 1957, Ch. 2066.)
  173. 50743.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may set sale terms for authorized bonds, may sell them below par or face value, but not at a price that would produce more than a 6% annual yield to the purchaser.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50743. The board may fix terms and conditions for the sale or other disposition of any authorized issue of bonds. The board may sell bonds at less than their par or face value but no bond may be sold at a price below the par or face value thereof which would result in a sale price yielding to the purchaser an average of more than six (6) percent per annum, payable semiannually, according to standard tables of bond values. (Added by Stats. 1957, Ch. 2066.)
  174. 50744.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may provide for the security of bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50744. The board may provide for the security of bonds. (Added by Stats. 1957, Ch. 2066.)
  175. 50745.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Interest on bond sale proceeds may be used to pay bond interest during project construction, and for up to two years after construction, if the indenture allows.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50745. Interest on bonds may be paid out of the proceeds of the sale of the bonds during the actual construction of any project for the acquisition, construction or completion of which the bonds have been issued, and for a period of not to exceed two (2) years thereafter as provided for in the indenture. (Added by Stats. 1957, Ch. 2066.)
  176. 50746.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may set bond proceedings so the bonds and interest become a lien on project revenues, if the indenture provides for it.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50746. The board may provide in the proceedings for the issuance of bonds that the bonds and the interest thereon constitute such lien upon the revenues of any project acquired, constructed or completed from the proceeds thereof as may be provided for in the indenture. (Added by Stats. 1957, Ch. 2066.)
  177. 50747.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may issue temporary or interim bonds, certificates, or receipts before revenue bonds are actually issued or delivered.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50747. Pending the actual issuance or delivery of revenue bonds, the board may issue temporary or interim bonds, certificates or receipts of any denominations whatsoever, and with or without coupons, to be exchanged for definitive bonds when ready for delivery. (Added by Stats. 1957, Ch. 2066.)
  178. 50748.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Bonds and the income from them are exempt from state taxation, except gift, inheritance, and estate taxes.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50748. All bonds, and the interest or income therefrom, are exempt from all taxation in this State other than gift, inheritance and estate taxes. (Added by Stats. 1957, Ch. 2066.)
  179. 50749.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Revenue bonds issued under this chapter must be investigated and certified by the State Treasurer before they can be treated as legal investments, if the Treasurer finds they are adequately secured and the revenues are sufficient.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50749. The bonds issued under this chapter shall be subject to investigation and certification by the State Treasurer under the Districts Securities Law (Chapter 1 (commencing with Section 20000), Division 10, Water Code) as such law reads or is hereafter amended to read. If the State Treasurer determines that the bonds are adequately secured and the revenues of the authority applicable to the payment thereof are or will be sufficient to pay the principal and interest of the bonds, and if the State Treasurer certifies to that effect, the bonds shall be eligible as legal investments for both public and private funds in the same manner as provided in the Districts Securities Law. (Amended by Stats. 1971, Ch. 214.)
  180. 50750.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may issue, sell, or exchange refunding bonds to redeem or retire revenue bonds it issued.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50750. The board may provide for the issuance, sale, or exhange of refunding bonds for the purpose of redeeming or retiring any revenue bonds issued by the board. All provisions of this chapter applicable to the issuance of revenue bonds are applicable to the funding or refunding bonds and to the issuance sale or exchange thereof. (Added by Stats. 1957, Ch. 2066.)
  181. 50751.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Funding or refunding bonds may be issued in an amount large enough to cover the bonds being refunded plus related issuance, interest, discount, and call or retirement costs.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50751. Funding or refunding bonds may be issued in a principal amount sufficient to provide funds for the payment of all bonds to be funded or refunded thereby, and in addition for the payment of all expenses incident to the calling, retiring or paying of such outstanding bonds, and the issuance of such funding or refunding bonds. These expenses include the difference in amount between the par value of the funding or refunding bonds and any amount less than par for which the funding or refunding bonds are sold, any amount necessary to be made available for the payment of interest upon such funding or refunding bonds from the date of sale thereof to the date of payment of the bonds to be funded or refunded or to the date upon which the bonds to be funded or refunded will be paid pursuant to the call thereof or agreement with the holders thereof, and the premium, if any, necessary to be paid in order to call or retire the outstanding bonds and the interest accruing thereon to the date of the call or retirement. (Added by Stats. 1957, Ch. 2066.)
  182. 50752.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Bonds issued under this chapter are negotiable instruments unless they are registered in the name of a registered owner.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50752. All bonds issued under the provisions of this chapter are negotiable instruments, except when registered in the name of a registered owner. (Added by Stats. 1957, Ch. 2066.)
  183. 50753.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    An action to determine the validity of bonds may be brought under the specified civil procedure chapter.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 2. Revenue Bonds [50715 - 50753] ( Article 2 added by Stats. 1957, Ch. 2066. ) ## 50753. An action to determine the validity of bonds may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure. (Amended by Stats. 1961, Ch. 1550.)
  184. 50760.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 3. Rental Rates, Charges and Fees [50760 - 50762] ( Article 3 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board must set rental rates, fees, and other charges for facilities under this chapter, and keep them at a level that covers operating costs and bond payments.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 3. Rental Rates, Charges and Fees [50760 - 50762] ( Article 3 added by Stats. 1957, Ch. 2066. ) ## 50760. The board shall fix the rental rates, fees and all other charges to be made for all facilities furnished, acquired, constructed or completed under this chapter for the use thereof by any persons utilizing such facilities. Subject to such contractual obligations as may be entered into by the board and the holders of the revenue bonds issued under this chapter, the board is authorized to change such rental rates, charges and fees from time to time as conditions warrant. All rental rates, fees and charges shall be at all times fixed to yield annual revenue equal to annual operating and maintenance expenses including insurance costs and all redemption payments and interest charges on the revenue bonds at any time issued and outstanding in connection with the project of which such facilities are a part as the same become due. The bond redemption and interest payments shall constitute a first, direct and exclusive charge and lien on all such rentals, fees and charges and other revenues and interest thereon and sinking funds created therefrom received from the use and operation of the project for the acquisition, construction or completion of which such revenue bonds were issued, and all such rentals, fees and charges and other revenues, together with the interest thereon shall constitute a trust fund for the security and payment of such bonds and shall not be used or pledged for any other purpose so long as such bonds, or any of them, are outstanding and unpaid. The board may provide that the rental rates, fees and charges established are minimum rental rates, fees and charges and subject to increase or decrease in accordance only with the terms of the indenture under which the revenue bonds were issued. (Added by Stats. 1957, Ch. 2066.)
  185. 50761.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 3. Rental Rates, Charges and Fees [50760 - 50762] ( Article 3 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may lease concessions for up to 10 years, and the parties may agree on the terms; advertising for bids is optional.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 3. Rental Rates, Charges and Fees [50760 - 50762] ( Article 3 added by Stats. 1957, Ch. 2066. ) ## 50761. The board may lease concessions for a period of time not exceeding 10 years as may be agreed upon by the contracting parties with or without advertising for bids. (Added by Stats. 1957, Ch. 2066.)
  186. 50762.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 3. Rental Rates, Charges and Fees [50760 - 50762] ( Article 3 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Contracts for revenue-bond projects must include certain bond-indenture and chapter references, and related payments may increase if the board must raise rates or charges.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 3. Rental Rates, Charges and Fees [50760 - 50762] ( Article 3 added by Stats. 1957, Ch. 2066. ) ## 50762. Every contract entered into by the board for the use of any project or part thereof, acquired, constructed or completed from the proceeds of the sale of revenue bonds shall incorporate by reference the provisions of any indenture pursuant to which the bonds were issued. Every such contract or lease shall also refer to the provisions of this chapter with respect to the obligation of the board to fix rental fees and charges to meet the payments provided for in this chapter and in the proceedings for the issuance of revenue bonds and all payments required to be made to the board under such contract shall be subject to increase if and when the board is required to increase rates or charges to meet its obligations hereunder and under any indenture providing for the issuance of bonds. (Added by Stats. 1957, Ch. 2066.)
  187. 50765.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 4. Competitive Projects [50765 - 50766] ( Article 4 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may put a no-competitive-projects clause into a revenue bond indenture, and that limitation is binding while the bonds remain outstanding.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 4. Competitive Projects [50765 - 50766] ( Article 4 added by Stats. 1957, Ch. 2066. ) ## 50765. The board may include, in an indenture for the issuance of revenue bonds, a clause that no competitive projects will be acquired or constructed by the board as long as any of the bonds issued under any such indenture are outstanding. Such limitation shall be valid and binding upon the board. (Added by Stats. 1957, Ch. 2066.)
  188. 50766.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 4. Competitive Projects [50765 - 50766] ( Article 4 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may add a bond indenture clause barring free use of projects built with revenue bond proceeds, except for certain employees helping the board or another public body.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 4. Competitive Projects [50765 - 50766] ( Article 4 added by Stats. 1957, Ch. 2066. ) ## 50766. The board may also include in an indenture for the issuance of bonds a clause that no project acquired, constructed or completed from the proceeds of revenue bonds shall be used without charge therefor or be furnished free of charge to any person, including the State of California or any political subdivision thereof, or any public corporation or individual, other than employees of the board or of another public body actually engaged in rendering service to the board in connection with the project. (Added by Stats. 1957, Ch. 2066.)
  189. 50770.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 5. Rights of Bondholders [50770 - 50771] ( Article 5 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Bondholders may use mandamus or another appropriate proceeding to compel performance of duties related to the bond project and bond revenues, and they keep any other available remedies.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 5. Rights of Bondholders [50770 - 50771] ( Article 5 added by Stats. 1957, Ch. 2066. ) ## 50770. The holder of any bond issued pursuant to this chapter may by mandamus or other appropriate proceeding, require and compel the performance of any of the duties imposed upon the board or its officers, agents or employees in connection with the acquisition, construction, operation, maintenance, repair, reconstruction or insurance of any project or the collection, deposit, investment, application and disbursement of rates, charges, fees and all other revenues derived from the operation and use of any project, or in connection with the deposit, investment and disbursement of the proceeds received from the sale of bonds. The enumeration of such rights and remedies does not, however, exclude the exercise or prosecution of any other rights or remedies available to the holders of bonds issued pursuant to this chapter. (Added by Stats. 1957, Ch. 2066.)
  190. 50771.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 5. Rights of Bondholders [50770 - 50771] ( Article 5 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    While revenue bonds issued by the board are outstanding, the board must not diminish or impair its powers and duties in a way that harms bondholders’ interests and rights.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 5. Rights of Bondholders [50770 - 50771] ( Article 5 added by Stats. 1957, Ch. 2066. ) ## 50771. While any revenue bonds issued by the board remain outstanding, the powers and duties of the board shall not be diminished or impaired in any manner that will adversely affect the interest and rights of the holders of the bonds. (Added by Stats. 1957, Ch. 2066.)
  191. 50786.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 6. Contributions and Cooperation [50786 - 50790] ( Article 6 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may accept contributions or appropriations from specified public sources.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 6. Contributions and Cooperation [50786 - 50790] ( Article 6 added by Stats. 1957, Ch. 2066. ) ## 50786. The board may accept contributions or appropriations from the United States of America, the State of California, or any department or agency of either thereof, or from any city, city and county, political subdivision, agency, district or other public corporation of this State. (Added by Stats. 1957, Ch. 2066.)
  192. 50787.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 6. Contributions and Cooperation [50786 - 50790] ( Article 6 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may enter into contracts or agreements, and cooperate, with government entities for authorized project development and operation.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 6. Contributions and Cooperation [50786 - 50790] ( Article 6 added by Stats. 1957, Ch. 2066. ) ## 50787. The board may enter into any contract, arrangement or agreement with the United States, the State or any other municipal corporation or public agency and may cooperate with the United States, the State or any other municipal corporation or public agency for the development, maintenance, operation or use of any project authorized by this chapter. (Added by Stats. 1957, Ch. 2066.)
  193. 50788.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 6. Contributions and Cooperation [50786 - 50790] ( Article 6 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may cooperate and contract with the United States for the specified federal-purpose cooperation authorized by the cited federal law.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 6. Contributions and Cooperation [50786 - 50790] ( Article 6 added by Stats. 1957, Ch. 2066. ) ## 50788. The board may cooperate and contract with the United States under the War Mobilization and Reconversion Act of 1944, approved October 3, 1944, and any acts amendatory or supplemental thereto or any other act of Congress heretofore or hereafter enacted, authorizing or permitting such cooperation. (Added by Stats. 1957, Ch. 2066.)
  194. 50789.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 6. Contributions and Cooperation [50786 - 50790] ( Article 6 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may authorize local agency officers, employees, or departments to perform project-related services, but it must not let them do so or incur related costs until bond proceeds or project revenues are available.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 6. Contributions and Cooperation [50786 - 50790] ( Article 6 added by Stats. 1957, Ch. 2066. ) ## 50789. The board may authorize or direct any officer, employee or department of the local agency to perform services for or in connection with the development, construction, maintenance or operation of any project and the cost of such services shall be a charge against the appropriate project fund. The board shall not authorize, direct, or permit any local agency officer, employee or department of the local agency to render any services for or in connection with any project or to incur any cost or expense for or in connection with or in aid of any project until funds are available either from the proceeds of the sale of bonds authorized for the project or from the revenues thereof for the payment of such cost or expense and all costs and expenses incurred by the local agency or by any officer, employees or department thereof for or in connection with or in aid of any project constitute a charge against the appropriate project and shall be paid from the appropriate fund of such project in the same manner as other costs and expenses incurred in connection with such project are paid. (Added by Stats. 1957, Ch. 2066.)
  195. 50790.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 6. Contributions and Cooperation [50786 - 50790] ( Article 6 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may arrange for a project on local-agency land, and if the land was not acquired with revenue bonds for that project, the board must set a reasonable rental.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 6. Contributions and Cooperation [50786 - 50790] ( Article 6 added by Stats. 1957, Ch. 2066. ) ## 50790. The board may provide for the construction, maintenance and operation of any project upon any lands owned by the local agency without regard to the manner in which such lands were acquired, and if such lands were acquired other than through the issuance of revenue bonds authorized for the particular project, the board shall fix a reasonable rental for the use of such lands, which rental shall be a charge against the appropriate funds of the project and shall be payable into the general or other appropriate fund of the local agency. (Added by Stats. 1957, Ch. 2066.)
  196. 50793.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 7. Funds [50793 - 50797] ( Article 7 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Bond sale proceeds must go into a local agency construction fund, kept separate from other funds, and spent only on the authorized project and related listed costs.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 7. Funds [50793 - 50797] ( Article 7 added by Stats. 1957, Ch. 2066. ) ## 50793. The proceeds from the sale of all bonds authorized under the provisions of this chapter shall be paid into the treasury of the local agency to the credit of the construction fund which the treasurer is hereby directed to establish for the particular project for which the bonds were authorized. The moneys in the construction fund shall be kept separate and apart from all other funds in the treasury of the local agency and shall be paid out and disbursed on the order of the board in the same manner that other funds are paid out and disbursed from the treasury of the local agency solely for the construction of the particular project for which the bonds were authorized, including preliminary reports, surveys, preparations, plans and specifications and for the payment of all other costs and expenses prior to and during construction, including the acquisition of necessary rights of way, easements, lands and other property of every kind and description and appurtenances thereto, and the payment of all expenses, engineering and administrative costs as provided by the board in the proceedings for the issuance of such bonds. (Added by Stats. 1957, Ch. 2066.)
  197. 50794.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 7. Funds [50793 - 50797] ( Article 7 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    A surplus left in the construction fund after project costs are fully paid may be spent for purposes allowed by the chapter or by a board agreement in the bond indenture.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 7. Funds [50793 - 50797] ( Article 7 added by Stats. 1957, Ch. 2066. ) ## 50794. If any surplus shall exist in the construction fund after the payment in full of all costs of acquisition, construction and completion of the project for which the revenue bonds were issued, the same may be paid out and disbursed for any of the purposes provided for in this chapter or in any agreement which may be made by the board in any indenture for the issuance of the revenue bonds. (Added by Stats. 1957, Ch. 2066.)
  198. 50795.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 7. Funds [50793 - 50797] ( Article 7 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The board may use the construction fund to pay revenue bond interest, principal, and certain administration costs, within the stated time limits.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 7. Funds [50793 - 50797] ( Article 7 added by Stats. 1957, Ch. 2066. ) ## 50795. The board may provide for the payment of the interest becoming due and payment on the principal of revenue bonds prior to and during the period of actual construction of the project for which the bonds are issued and for the period specified in the indenture for the issuance of the bonds, which period shall not exceed two years after the completion of construction and for the payment of all costs and expenses of administration during a period of one year after the completion of construction of the project out of the construction fund as the need therefor may arise and moneys in the construction fund are hereby made available for such purposes. (Added by Stats. 1957, Ch. 2066.)
  199. 50796.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 7. Funds [50793 - 50797] ( Article 7 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    Money left in the construction fund may be invested in eligible bonds and other obligations, subject to limits in the bond-authorizing proceedings, and any income or interest must be added back to the construction fund.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 7. Funds [50793 - 50797] ( Article 7 added by Stats. 1957, Ch. 2066. ) ## 50796. Moneys in the construction fund not required to meet acquisition or construction costs or expenses payable from the construction fund or interest on the bonds, may be invested in bonds and other obligations eligible for investment of surplus county moneys; subject to such limitations as may be provided in the proceedings authorizing the issuance of the bonds. Any income or interest thereon shall be added to and become a part of the construction fund. (Added by Stats. 1957, Ch. 2066.)
  200. 50797.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 7. Funds [50793 - 50797] ( Article 7 added by Stats. 1957, Ch. 2066. )

    Verify source ↗

    The treasurer must establish a revenue fund for the project, and project revenues must be credited to that fund and then used only for the bond debt, reserve funds, and specified project costs.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 1. CITIES AND COUNTIES [50001 - 52203] ( Division 1 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES [50001 - 51299.4] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 3.5. Revenue Bonds for Public Improvements [50701 - 50798.4] ( Chapter 3.5 added by Stats. 1957, Ch. 2066. ) ## ARTICLE 7. Funds [50793 - 50797] ( Article 7 added by Stats. 1957, Ch. 2066. ) ## 50797. All revenues received from the operation of the project acquired, constructed or completed by the board shall be paid into the treasury of the local agency to the credit of the revenue fund which the treasurer is hereby directed to establish for the particular project for which the bonds were authorized. The moneys in the revenue fund shall be paid out and disbursed for the payment of the principal and interest on all bonds issued by the board for the particular project producing the revenue as and when such principal and interest shall become due and for the creation of any reserve fund or other special fund provided by the board in the proceedings for the issuance of said bonds and also for the payment of all costs and expenses for the maintenance, operation and insurance of the project, engineering and administrative costs and for all repairs and replacements and other costs and expenses incurred in connection with such project. (Added by Stats. 1957, Ch. 2066.)

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