Government Code — Part 68 | GOV — United States — California law | Esheria

Government Code

Part 68 of 107 · provisions 13,401–13,600

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. 54342.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A local agency may operate, maintain, repair, or manage an enterprise, including leasing surplus space for commercial purposes.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54342. A local agency may operate, maintain, repair, or manage all or any part of any enterprise, including the leasing for commercial purposes of surplus space or other space which it is not economic to use for such enterprise. (Amended by Stats. 1953, Ch. 526.)
  2. 54343.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A local agency may adopt reasonable rules or regulations for running the enterprise.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54343. The local agency may adopt reasonable rules or regulations for the conduct of the enterprise. (Added by Stats. 1955, Ch. 602.)
  3. 54344.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A local agency may set, change, and collect charges for services, facilities, or water supplied by the enterprise.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54344. A local agency may prescribe, revise, and collect charges for the services, facilities, or water furnished by the enterprise. (Amended by Stats. 1953, Ch. 526.)
  4. 54345.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A local agency may require sewer charges to be billed and collected together with other utility charges on one bill.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54345. The local agency may provide that charges for any sewer enterprise or service shall be collected together with and not separately from the charges for any other utility service rendered by it, and that all charges shall be billed upon the same bill and collected as one item. (Amended by Stats. 1949, Ch. 1506.)
  5. 54346.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A local agency may discontinue service when a bill is unpaid, with a narrower rule for unpaid bill components after January 1, 1982.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54346. (a) If all or part of the bill is not paid, the local agency may discontinue any and all service for which the bill is rendered. (b) Commencing January 1, 1982, if all or part of the bill is not paid, and the ratepayer states the reason for the nonpayment of a component or components of the bill, the local agency may discontinue only that service related to the component of the bill which is not paid, except that if all or part of the component of the bill related to sewer service is not paid the water service may also be discontinued. However, if any of the services for which the bill was rendered were financed pursuant to revenue bonds issued prior to January 1, 1982, and which have not been retired, the local agency may apply the provisions of subdivision (a). (c) The provisions of this section shall apply to counties and cities, whether general law or chartered. (Amended by Stats. 1981, Ch. 786, Sec. 1.)
  6. 54346.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A local agency may make a written contract with a privately owned public utility so sewer charges are billed together with, and not separately from, the utility’s other charges.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54346.1. The local agency may enter into a written contract with a privately owned public utility rendering other than gas or electric service, that the charges for any sewer enterprise or service shall be collected together with and not separately from the charges of said privately owned public utility for any other utility service rendered by it, and that all charges shall be billed upon the same bill and collected as one item. (Added by Stats. 1949, Ch. 1506.)
  7. 54346.2.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A privately owned public utility may discontinue utility service if a sewer enterprise or service charge bill is unpaid.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54346.2. If all or any part of the bill of any privately owned public utility on which any sewer enterprise or service charge is collected is not paid, the privately owned public utility may discontinue its utility service until said bill is paid. (Added by Stats. 1949, Ch. 1506.)
  8. 54346.3.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A local agency may make a written contract for billing and collecting utility or water charges, and the contractor may stop utility service if a billed amount remains unpaid and the person billed receives public utility service.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54346.3. The local agency may enter into a written contract with any person, firm or public or private corporation providing for the billing and collection by such person, firm or corporation of the charges for the facilities, service or water furnished by any enterprise. If all or any part of any bill rendered by any such person, firm or corporation pursuant to any such contract is not paid and if such person, firm or corporation renders any public utility service to the person billed, such person, firm or corporation may discontinue its utility service until such bill is paid, and the contract between the local agency and such person, firm or corporation may so provide. (Added by Stats. 1953, Ch. 526.)
  9. 54346.4.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A qualifying local agency may, with county consent, collect storm-water charges like other local charges and taxes; the county may also deduct its reasonable collection costs if it collects the charges.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54346.4. (a) A local agency whose jurisdiction is geographically coextensive with the county in which it operates, acquires, constructs, or improves a system, plan, works, facilities, or undertaking for the collection, treatment, or disposal of storm water, including drainage, may, with the concurrence of the county, provide for the collection of the agency’s charges in the same manner, and subject to the same penalties and priority of lien as, other charges and taxes fixed and collected by, or on behalf of the local agency. However, if, for the first year the charges are prescribed, the property served by the agency has been transferred or conveyed to a bona fide purchaser for value, and attached thereon, prior to the date on which the first installment of county taxes would become delinquent, the charge shall not result in a lien against the real property but shall be transferred to the unsecured roll. (b) If the charges are collected by the county, the county may deduct its reasonable costs incurred for the service before remittal of the balance to the local agency’s treasury. (Added by Stats. 1992, Ch. 1208, Sec. 2. Effective January 1, 1993.)
  10. 54347.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A local agency may set rules for collecting charges, including discounts for prompt payment, deposits or prepayment, and guaranties.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54347. The local agency may provide for the collection of charges. Provisions may be made for, but are not limited to: (a) The granting of discounts for prompt payment of bills. (b) The requiring of deposits or the prepayment of charges in an amount not exceeding one year’s charges either from persons receiving service and using the facilities of the enterprise or from the owners of property on which or in connection with which said services and facilities are to be used; provided, however, that in case of nonpayment of all or part of a bill said deposits or prepaid charges shall be applied only insofar as necessary to liquidate the cumulative amount of such charges plus penalties and costs of collection. (c) The requiring of a guaranty by the owner of property that the bills for service to said property or the occupants thereof will be paid. (Amended by Stats. 1955, Ch. 602.)
  11. 54348.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A local agency may set a basic penalty for late payment of charges, capped at 10% for the first delinquent month, and may add another monthly penalty of up to 0.5% plus collection provisions.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54348. The local agency may provide for a basic penalty for nonpayment of the charges within the time and in the manner prescribed by it. Said basic penalty shall not be more than 10 percent of each month’s charges for the first month delinquent. In addition to the basic penalty it may provide for a penalty of not exceeding one-half of 1 percent per month for nonpayment of the charges and basic penalty. On the first day of the calendar month following the date of payment specified in the bill the charge shall become delinquent if the bill or that portion thereof which is not in bona fide dispute remains unpaid. It may provide for collection of the penalties herein provided for. (Amended by Stats. 1955, Ch. 602.)
  12. 54349.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A local agency may issue bonds to raise funds for acquiring, constructing, improving, or financing an enterprise.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54349. The local agency may issue bonds for funds to acquire, construct, improve or finance an enterprise. The bonds may be secured pursuant to this chapter. (Amended by Stats. 1953, Ch. 526.)
  13. 54350.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A local agency may regulate an enterprise covered by this chapter and has police power over it.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54350. A local agency has police power over any enterprise acquired, constructed, or improved pursuant to this chapter and may make and enforce all necessary regulations to protect the public health in the operation and maintenance of the enterprise. (Added by Stats. 1949, Ch. 81.)
  14. 54351.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A local agency may require inhabitants to use its facilities exclusively if it acquires, constructs, or improves a sanitation or garbage removal or disposal system.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54351. If the local agency acquires, constructs, or improves a sanitation or garbage removal or disposal system, it may require its inhabitants to use the facilities exclusively. (Added by Stats. 1949, Ch. 81.)
  15. 54352.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

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    A local agency may declare cesspools or other local sewage disposal methods a public nuisance, and may require certain nearby buildings to connect to the sewer system.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54352. If the local agency acquires, constructs, or improves a sewer system pursuant to this chapter, it may declare that the further maintenance or use of cesspools or other local means of sewage disposal constitutes a public nuisance. If the buildings are within a reasonable distance, but not more than two hundred feet, from connection with the sewer system, the local agency may require all buildings inhabited or used by human beings and in which any sewage is produced to be connected with the sewer system within the period prescribed by it, but not less than thirty days from the time when such a connection can be made, as may be prescribed by the local agency. (Amended by Stats. 1949, Ch. 1492.)
  16. 54353.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may bring a court action to collect unpaid deposits, charges, and related penalties.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54353. As a remedy established for the collection of due and unpaid deposits and charges and the penalties thereon an action may be brought in the name of the local agency in any court of competent jurisdiction against the person or persons who occupied or, in the case of unoccupied property, who owned the property when the service was rendered or the deposit became due or against any person guaranteeing payment of bills, or against any or all of said persons, for the collection of the amount of the deposit or the collection of delinquent charges and all penalties thereon. (Amended by Stats. 1970, Ch. 1174.)
  17. 54354.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may declare a lien on real property served for delinquent charges and penalties for certain sewage, water, and storm water services, but not on publicly owned property.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54354. A local agency that acquires, constructs, or improves a system, plant, works, facilities or undertaking for the collection, treatment, or disposal of sewage or for the obtaining, conserving, treating, and supplying of water, or for the collection, treatment, or disposal of storm water, including drainage, may declare in the resolution or ordinance prescribing or revising charges for the services or facilities furnished by the enterprise that delinquent charges and all penalties thereon when recorded as in this chapter provided shall constitute a lien upon the real property served. However, no lien shall be created against any publicly owned property. A lien shall continue until the charge and all penalties thereon are fully paid or the property sold. (Amended by Stats. 1992, Ch. 1208, Sec. 3. Effective January 1, 1993.)
  18. 54354.5.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency’s legislative body must give notice and hold a hearing before adopting a resolution or ordinance that sets or revises service charges.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54354.5. A resolution or ordinance prescribing or revising charges for the services or facilities furnished by the enterprise and declaring that delinquent charges and penalties when recorded as provided in this chapter shall constitute a lien upon the real property served shall not be adopted until the legislative body has given notice of and held a hearing thereon substantially as provided by this section; provided, however, that nothing herein shall be construed to prevent the local agency from prescribing, revising and collecting charges sufficient in amount to comply with Section 54515 or any other provision of this chapter or any provision or convenant in the proceedings for the issuance of any outstanding revenue bonds of the local agency payable from the revenues of the enterprise. (a) The notice of the hearing shall be given by the clerk or secretary of the legislative body and shall contain a copy of the proposed resolution or ordinance. Said notice shall state the time and place for a hearing on said proposed resolution or ordinance, and that at said time and place any person interested, including all persons owning property in the local agency, may appear and be heard as to whether the proposed rates and charges are discriminatory or excessive, or will not be sufficient under Section 54515, or will not comply with any other provision of this chapter, or will not be sufficient under the provisions or covenants of any outstanding revenue bonds of the local agency payable from the revenues of the enterprise, or on any other matter relating to said proposed resolution or ordinance or the rates or charges proposed therein. (b) Said notice shall be published at least once each week for two weeks prior to the hearing in a newspaper published in the local agency. If there is no newspaper published in the local agency, said notice shall be posted in three public places in the local agency for not less than two weeks prior to the hearing. The first publication or posting of the notice shall be at least 15 days prior to the date of hearing. (c) At the time and place fixed in said notice for the hearing, the legislative body shall hold said hearing and may adjourn said hearing from time to time and may adjourn said hearing to a different place if deemed necessary. At the hearing any person interested, including all persons owning property in the local agency, may appear and be heard on the matters set forth in the notice. At the hearing the legislative body may change or modify the proposed rates and charges; provided, however, that no rate or charge shall be raised or increased from that set forth in the proposed resolution or ordinance, unless notice of intention to make said increase shall be published once or posted at least 10 days prior to the hearing on the proposed change. (d) At the conclusion of the hearing the legislative body may determine that the proposed rates and charges, as originally proposed or modified as provided herein, are not discriminatory or excessive, and will be sufficient under Section 54515 and will comply with the provisions of this chapter and will be sufficient under the provisions or covenants of any outstanding revenue bonds of the local agency payable from the revenues of the enterprise and will be in compliance with law, and adopt said proposed resolution or ordinance as proposed or modified as provided herein. (Amended by Stats. 1970, Ch. 1174.)
  19. 54355.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A recorded delinquent-charges list makes the lien attach, and the lien can be enforced like a judgment lien; recording must happen at least every six months.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54355. The lien provided by Section 54354 shall attach when the treasurer or other officer whose duty it is to collect the charge records a list of delinquent unpaid charges and penalties thereon with the county recorder, stating the amount of each charge and the penalty thereon, a description of the real property upon which the same is a lien and the name of the local agency to which the same is payable. Such lien shall have the same force, effect, priority and duration as to the property described as would the lien of an abstract of a judgment against the owner of the real property at the time such list is recorded and may be enforced in like manner. Property may be discharged from the lien within one year from the date of recording by the payment of all delinquent charges plus penalties. A list of all such delinquent charges shall be recorded at least every six months, but no delay or informality in recording the same shall invalidate the lien or any unpaid charge or any subsequent act or proceeding. If through error or otherwise the amount of any unpaid charge plus penalties thereon as stated in said list shall be incorrect, said error shall be disregarded and shall not affect or invalidate the filing if said error is one dollar ($1) or less. (Amended by Stats. 1956, 1st Ex. Sess., Ch. 23.)
  20. 54356.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may sue in a court of competent jurisdiction to enforce the lien for the charge and related penalties, and the plaintiff must be awarded a reasonable attorney’s fee.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54356. As a separate, distinct and cumulative remedy established for the collection of said charges and penalties thereon an action may be brought in the name of the local agency in any court of competent jurisdiction to enforce the lien of the charge and all penalties thereon. In such action a reasonable attorney’s fee shall be awarded plaintiff. (Added by Stats. 1955, Ch. 602.)
  21. 54357.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Bond-collection remedies in this chapter are cumulative, may be used one after another if the legislative body decides so, and a bond holder may compel use of the remedies.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54357. Remedies for collecting and enforcing rates and charges set out in this chapter are cumulative and may be pursued alternately, or any thereof may be used consecutively when the legislative body so determines. If any one of said remedies is or may be invalid, all valid remedies shall remain effectual until the principal and interest of the bonds are fully paid. Any holder of any bond outstanding at any time may compel the use of any or all of the remedies herein provided. The costs of collection and enforcement of the remedies for the collection of charges may be paid from the revenues. (Amended by Stats. 1956, 1st Ex. Sess., Ch. 23.)
  22. 54358.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may do whatever is necessary or convenient to carry out the chapter’s powers and its covenants or duties.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 2. Powers of a Local Agency [54340 - 54358] ( Article 2 added by Stats. 1949, Ch. 81. ) ## 54358. The local agency may execute all instruments, perform all acts, and do all things necesssary or convenient in the exercise of the powers granted by this chapter or in the performance of its covenants or duties. (Added by Stats. 1955, Ch. 602.)
  23. 54380.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may, by resolution of its legislative body, submit a bond proposition to its qualified voters 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 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. ) ## 54380. By resolution of its legislative body to take effect upon adoption, a local agency may submit to its qualified voters, at an election held for that purpose, the proposition of issuing bonds pursuant to this chapter to provide funds for the acquisition, construction, improving or financing of an enterprise, including any or all expenses incidental thereto or connected therewith or any combination of two or more of such purposes. (Amended by Stats. 1949, Ch. 1492.)
  24. 54381.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may adopt the resolution by a majority of all members, at a regular or special meeting, and at the same meeting it is introduced.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. ) ## 54381. By a majority of all members, the legislative body may adopt the resolution at a regular or special meeting and at the same meeting at which it is introduced. (Added by Stats. 1949, Ch. 81.)
  25. 54382.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A bond resolution must state several required details, including the bond purpose, costs, principal amount, interest rate, and election details.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. ) ## 54382. The resolution shall: (a) State the purpose for which the bonds are proposed to be issued. (b) State the estimated cost of the acquisition, construction, improvement and financing. (c) State the principal amount of the bonds. (d) State the maximum rate of interest on the bonds, which shall not exceed the maximum rate specified in Section 53531. That rate may be either fixed or variable, and shall be payable at the times and in the manner specified in the resolution. (e) Fix the election date. (f) Fix the manner of holding the election. (g) Fix the manner of voting on the issuance of the bonds. (h) State that in all other particulars the election shall be held and the votes canvassed pursuant to law for general municipal elections in such local agencies. (Amended by Stats. 1990, Ch. 1130, Sec. 2.)
  26. 54383.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A proposition may be submitted at an election alongside other propositions.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. ) ## 54383. The proposition may be submitted at an election for other propositions. (Added by Stats. 1949, Ch. 81.)
  27. 54384.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A bond resolution must say the bonds are revenue bonds, payable only from specified enterprise revenues and other Section 54478 funds, and that they are not backed by the local agency’s taxing power.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. ) ## 54384. The resolution shall state that the bonds are to be revenue bonds, payable exclusively from the revenues of the enterprise and from such of the other funds referred to in Section 54478 as shall be specified in the resolution, and the resolution shall also state that the bonds are not to be secured by the taxing power of the local agency. (Amended by Stats. 1953, Ch. 526.)
  28. 54385.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The resolution must be published in a newspaper or, if no suitable newspaper exists, posted in public places.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. ) ## 54385. The resolution shall be published once a day for at least seven days in a newspaper published at least six days a week in the local agency or published once a week for two succeeding weeks in a newspaper published less than six days a week in the local agency. If there are no such newspapers, the resolution shall be posted in three public places in the local agency for two succeeding weeks. (Added by Stats. 1949, Ch. 81.)
  29. 54386.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A majority of all voters voting on the proposition is required to authorize issuing the bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. ) ## 54386. The votes of a majority of all the voters voting on the proposition are required to authorize the issuance of the bonds. (Added by Stats. 1949, Ch. 81.)
  30. 54387.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    If bond issuance is authorized at the election, the legislative body must arrange the bonds’ issuance and sale by resolution.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 3. Authorization of Bonds [54380 - 54387] ( Article 3 added by Stats. 1949, Ch. 81. ) ## 54387. If the issuance of the bonds is authorized at the election, the legislative body shall provide for their issuance and sale by resolution to take effect upon adoption. (Added by Stats. 1949, Ch. 81.)
  31. 544.

    ## 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 ↗

    This section states that the distance from the county seat of Santa Clara County to Sacramento is 128 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. ) ## 544. From the county seat of Santa Clara County to Sacramento it is one hundred and twenty-eight (128) miles. (Enacted by Stats. 1943, Ch. 134.)
  32. 54400.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may set bond issuance details in the resolution, including the number of series, the date the bonds bear, and maturity dates up to 40 years from their dates.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54400. The legislative body may determine and provide in the resolution for: (a) The number of series in which the bonds are to be issued. (b) The date the bonds are to bear. (c) The maturity dates of the bonds, not exceeding forty years from their respective dates. (Added by Stats. 1949, Ch. 81.)
  33. 54401.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    If a legislative body splits a bond issue into series, it may set different dates for each series in the resolution, and each series’ maximum maturity date is calculated separately from the face date of each bond.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54401. If the legislative body divides any issue of bonds into series, it may prescribe, and state in the resolution, different dates for the bonds of each series. The maximum maturity date of each series shall be calculated from the date on the face of each bond separately. (Added by Stats. 1949, Ch. 81.)
  34. 54402.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may set various bond terms in a resolution, but the annual interest rate cannot exceed the maximum rate in Section 53531.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54402. The legislative body may determine and provide in the resolution for: (a) The issuance of any bonds or a series in the form of serial bonds or sinking fund bonds with serial or term maturities. (b) The interest of the bonds either fixed or variable, the rate or rates, payable at the times and in the manner specified therein. Under no conditions may the annual fixed or variable interest rate exceed the maximum rate specified in Section 53531 of the Government Code. (c) The denomination of the bonds. (d) The form of the bonds, coupon, registered, or book entry. (e) The registration and conversion privileges of the bonds. (f) The manner in which the bonds are to be executed. (g) The medium and place of payment. (h) The terms of redemption, with or without a premium. (Amended by Stats. 1990, Ch. 1130, Sec. 4.)
  35. 54403.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Any premium on the bonds must be set at the amount or amounts specified by the legislative body.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54403. Any premium payable on the bonds shall be in the amount or amounts specified by the legislative body. (Repealed and added by Stats. 1990, Ch. 1130, Sec. 6.)
  36. 54404.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The bonds cannot be called or redeemed before maturity unless the bonds themselves expressly say that a call right exists.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54404. The bonds are not subject to call or redemption prior to their fixed maturity date unless the right to exercise a call is expressly stated on the face of the bonds. (Added by Stats. 1949, Ch. 81.)
  37. 54405.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A resolution may set the terms and conditions for bonds to become due and payable if specified defaults occur.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54405. The resolution may provide the terms and conditions upon which the bonds may be declared or become due and payable upon specified defaults. (Added by Stats. 1949, Ch. 81.)
  38. 54406.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A resolution may allow replacement of mutilated, destroyed, stolen, or lost bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54406. The resolution may provide for the replacement of mutilated, destroyed, stolen, or lost bonds. (Added by Stats. 1949, Ch. 81.)
  39. 54407.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may, by resolution, decide how the bonds are authenticated and what other terms are included in them.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54407. By resolution, the legislative body may provide the manner for authenticating the bonds and other terms to be contained in the bonds. (Added by Stats. 1949, Ch. 81.)
  40. 54408.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    While definitive bonds are being prepared, interim receipts or temporary bonds may be issued, and the legislative body decides their form and provisions.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54408. Pending the preparation of the definitive bonds, interim receipts or temporary bonds, exchangeable for definitive bonds may be issued in the form and with the provisions the legislative body determines. (Added by Stats. 1949, Ch. 81.)
  41. 54409.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A bond or interim receipt is treated as a negotiable instrument unless it expressly says on its face that it is nonnegotiable.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54409. In the absence of an express recital on its face that the bond or interim receipt is nonnegotiable, the bond or interim receipt is a negotiable instrument. (Added by Stats. 1949, Ch. 81.)
  42. 54410.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may include certain costs when deciding how much in bonds to issue.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54410. 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 enterprise. (b) All engineering, inspection, legal and fiscal agent’s fees, costs of the bond election and of the issuance of said revenue bonds, bond reserve funds and working capital and bond interest estimated to accrue during the construction period and for a period of not to exceed twelve months after completion of construction. (Amended by Stats. 1949, Ch. 1492.)
  43. 54411.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Bonds signed by local agency officers are valid even if those officers leave office before the bonds are delivered.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54411. Bonds bearing the signature of officers of the local agency in office on the date of the signing are valid, notwithstanding that before delivery the persons signing have ceased to be officers. (Added by Stats. 1949, Ch. 81.)
  44. 54412.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The validity of bond authorization and issuance is not affected by related acquisition, construction, improvement, or contract proceedings.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54412. The validity of the authorization and issuance of the bonds is not affected by proceedings for the acquisition, construction, or improving of the enterprise or by contracts in connection therewith. (Added by Stats. 1949, Ch. 81.)
  45. 54413.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A bond-authorizing resolution may state that the bonds were issued under this chapter, and bonds with that statement are conclusively treated as valid and in conformity with the chapter.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54413. Any resolution authorizing bonds may provide that the bonds may recite that it is issued pursuant to this chapter and bonds containing such recital are conclusively deemed valid and issued in conformity with this chapter. (Added by Stats. 1949, Ch. 81.)
  46. 54414.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A bond reference to the adopting resolution by date of adoption makes that resolution and this chapter part of the bonds and their coupons.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54414. Reference on the face of the bonds to the resolution by its date of adoption incorporates the provisions of the resolution and of this chapter into the bonds and their coupons. (Amended by Stats. 1953, Ch. 369.)
  47. 54415.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Bond takers and later holders can rely on the resolution and chapter, and they are bound by those terms.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54415. Each taker and subsequent holder of the bonds and attached or detached coupons has recourse to all of the provisions of the resolution and of this chapter and is bound by their terms. (Added by Stats. 1949, Ch. 81.)
  48. 54416.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may issue and sell the bonds, using the method it chooses.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54416. The legislative body may issue and sell the bonds in the manner it determines. (Added by Stats. 1949, Ch. 81.)
  49. 54417.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may sell the bonds either in installments at different times or all at once as a series.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54417. The legislative body may sell the bonds in installments at different times or as an entire series of bonds at one time. (Added by Stats. 1949, Ch. 81.)
  50. 54418.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A legislative body may sell bonds above or below par by resolution, at public or private sale. If it chooses a private sale, the local agency must send a written explanation to the California Debt Advisory Commission within two weeks after the sale.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54418. The legislative body may sell the bonds at a price above or below par in a manner, at public or private sale, as it determines by resolution. If the legislative body decides to sell the bonds at private sale rather than public sale, the local agency shall send a written statement to the California Debt Advisory Commission, no later than two weeks after the sale of the bonds, explaining the reasons for that decision. (Amended by Stats. 1990, Ch. 1130, Sec. 7.)
  51. 54419.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The sale price of sold bonds must include interest accrued up to the date of delivery and payment.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54419. The sale price of all bonds sold shall include the interest accrued to the date of delivery of and payment for the bonds. (Added by Stats. 1949, Ch. 81.)
  52. 54420.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Revenue bonds issued under this section are special obligations of the local agency and are payable only from specified enterprise revenues and funds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54420. The bonds are special obligations of the local agency and are secured by a pledge of and shall be a charge upon, and shall be payable, as to the principal thereof, interest thereon, and any premiums upon the redemption of any thereof, solely from and secured by a lien upon the gross revenues of the enterprise and such funds as are described in the resolution authorizing the issuance of the bonds. (Amended by Stats. 1953, Ch. 526.)
  53. 54421.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A legislative body may, by resolution, pledge, place a charge on, and assign gross revenues and certain funds to secure bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54421. By resolution the legislative body may pledge, place a charge upon, and assign all or any part of the gross revenues of the enterprise and of any and all funds referred to in Section 54478 for the security of the bonds. The gross revenues of the enterprise include revenues of improvements and extensions later constructed or acquired and revenues of existing systems, plants, works, or undertakings to be improved or extended or for the improvement or extension of which the bonds are to be issued. (Amended by Stats. 1953, Ch. 526.)
  54. 54422.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Bond interest, principal, and any redemption premiums are secured by a pledge, charge, and lien on the enterprise’s revenues and any other funds named in the bond authorization resolution.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54422. The payment of interest on and principal of the bonds and any premiums upon the redemption of any thereof are secured by a pledge, charge, and lien upon the revenues of the enterprise and upon such other funds as shall be specified in the resolution authorizing the issuance of the bonds. (Amended by Stats. 1990, Ch. 1130, Sec. 8.)
  55. 54423.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Specified bond-related revenues and related funds are treated as a trust fund to secure and pay bond interest and principal.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54423. The revenues and any interest earned on the revenues and all other funds specified in the resolution authorizing the issuance of the bonds constitute a trust fund for the security and payment of the interest on and principal of the bonds. (Amended by Stats. 1953, Ch. 526.)
  56. 54424.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Revenues and interest from the bonds cannot be used for any other purpose while any bonds or interest remain unpaid, except as allowed by Sections 54425 and 54426.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54424. So long as any bonds or interest thereon are unpaid the revenues and interest thereon shall not be used for any other purpose, except as provided in Sections 54425 and 54426. (Amended by Stats. 1953, Ch. 526.)
  57. 54425.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    After bond payments are current, revenue may be used first for necessary and reasonable enterprise maintenance and operation costs, and any remaining surplus may be used for any lawful local agency purpose, subject to bond-resolution covenants.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54425. If the interest and principal of the bonds and all charges to protect or secure them are paid when due an amount for the necessary and reasonable maintenance and operation costs of the enterprise, which costs include the reasonable expenses of management, repair and other expenses necessary to maintain and preserve the enterprise in good repair and working order, may be apportioned from the revenues, and subject to any limiting covenants in the resolution providing for the issuance of bonds, the remaining surplus may be used for any lawful purpose of the local agency. (Amended by Stats. 1955, Ch. 395.)
  58. 54426.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may choose, in the bond issuance resolution, to require revenues to pay principal, interest, and other security-fund amounts before maintenance and operating costs.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54426. In its discretion the legislative body may provide in the resolution providing for the issuance of the bonds that, the principal, interest, and sums for other security funds shall be paid from the revenues prior to paying the maintenance and operation costs of the enterprise. (Amended by Stats. 1963, Ch. 1104.)
  59. 54427.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Local agencies may issue different series of bonds and may make one series subordinate to another if the resolution says so.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54427. Bonds of the same issue shall be equally secured by a pledge, charge, and lien upon the revenues of the enterprise and all other funds 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 chapter 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. (Amended by Stats. 1953, Ch. 526.)
  60. 54428.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The 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 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54428. The general fund of the local agency is not liable for the payment of the bonds or their interest. (Added by Stats. 1949, Ch. 81.)
  61. 54429.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may not pledge its credit or taxing power to pay the bonds or their interest.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54429. The credit or taxing power of the local agency is not pledged for the payment of the bonds or their interest. (Added by Stats. 1949, Ch. 81.)
  62. 54430.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Holders of the bonds or coupons may not force the local agency to tax or forfeit its property.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54430. The holder of the bonds or coupons shall not compel the exercise of the taxing power by the local agency or the forfeiture of its property. (Added by Stats. 1949, Ch. 81.)
  63. 54431.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The principal and interest on these bonds, and any redemption premiums, are not treated as a debt of the local agency or as a lien or pledge on its property, income, receipts, or revenues, except as to revenues of the enterprise and other funds legally available for payment.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54431. 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 of the enterprise and other funds that may be legally applied, pledged, or otherwise made available to their payment. (Amended by Stats. 1953, Ch. 526.)
  64. 54432.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Each bond must state that it will be paid only from pledged revenues and other available funds, and the local agency is not otherwise obligated to pay it.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54432. Every bond shall recite in substance that the principal of and interest on the bond are payable solely from the revenues and other funds pledged or otherwise made available to its payment and that the local agency is not obligated to pay it except from the revenues of the enterprise and from such other funds. (Amended by Stats. 1953, Ch. 526.)
  65. 54435.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. )

    Verify source ↗

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

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 4. Provisions Relating to Bonds [54400 - 54435] ( Article 4 added by Stats. 1949, Ch. 81. ) ## 54435. The bonds and interest or income from the bonds are exempt from taxation in this State, except from gift, inheritance, and estate taxes. (Added by Stats. 1949, Ch. 81.)
  66. 54460.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A legislative body may include authorized article provisions in a bond-authorizing resolution.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54460. 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 bond holders. (Added by Stats. 1949, Ch. 81.)
  67. 54461.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may set limits on how bond sale proceeds are used, on additional bonds for the same purpose, and on the local agency’s right to restrict and regulate use of the enterprise.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54461. 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. (c) The right of the local agency to restrict and regulate the use of the enterprise. (Added by Stats. 1949, Ch. 81.)
  68. 54462.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may decide the amount and type of insurance for the enterprise, including coverage for listed risks.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54462. The legislative body may provide for the amount and kind of insurance on the enterprise including insurance against: (a) Accident to or destruction of any enterprise from any or all risks. (b) Loss of revenues from an enterprise. (c) Public liability or property damage and workmen’s compensation. (Added by Stats. 1949, Ch. 81.)
  69. 54463.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may provide for other insurance carried by private companies on property or similar risks.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54463. It may provide for other insurance carried by private companies on property or risks on the same or similar enterprises. (Added by Stats. 1949, Ch. 81.)
  70. 54464.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may provide rules for how insurance money is used and distributed.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54464. The legislative body may provide for the use and disposition of insurance money. (Added by Stats. 1949, Ch. 81.)
  71. 54465.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A legislative body may direct insurance money for a damaged enterprise to repairs or rebuilding, and may also direct unused money to bond retirement.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54465. Without limiting the authority granted, the legislative body may specifically provide that money collected from insurance against accident to or destruction of the physical enterprise shall be used for repairing or rebuilding the damaged or destroyed enterprise. The legislative body may provide that if the money is not so applied within a period specified by the local agency, it shall be applied to the retirement of any outstanding and unredeemed bonds issued for the enterprise. (Added by Stats. 1949, Ch. 81.)
  72. 54466.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may require insurance proceeds for loss of revenue to be used only to pay and retire the bonds for the enterprise.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54466. The legislative body may also specifically provide that the proceeds of insurance against loss of revenue shall be used solely for the payment and retirement of the bonds issued for acquisition, construction, or improvement of the enterprise. (Added by Stats. 1949, Ch. 81.)
  73. 54467.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may put covenants in the resolution restricting certain dealings with the enterprise, its revenues, or other pledged funds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54467. The legislative body may insert in the resolution covenants against the mortgaging or otherwise encumbering, selling, leasing, pledging, placing any charge upon, or disposing of the enterprise or any of its revenues or any other funds pledged or otherwise made available to secure payment of the principal of and interest on the bonds. (Amended by Stats. 1953, Ch. 526.)
  74. 54468.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    This section allows insertion of covenants to stop agreements that would impair the enterprise’s operation or the bondholders’ rights to revenues or operation.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54468. It may insert covenants against the entering into any agreement which impairs the operation of the enterprise or any part of it necessary to secure adequate revenues to pay the principal and interest of the bonds or which otherwise would impair the rights of the bondholders with respect to the revenues or the operation of the enterprise. (Added by Stats. 1949, Ch. 81.)
  75. 54469.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may set default events and rules for making bonds due before maturity, and may also set rules for waiving that declaration and its consequences.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54469. 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. 1949, Ch. 81.)
  76. 54470.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may make rules about 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 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54470. 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. 1949, Ch. 81.)
  77. 54471.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

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    The legislative body may authorize a trustee to enforce bond covenants and define the trustee’s powers, duties, and liability limits.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54471. 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, duties, and the limitation of his liabilities. (Added by Stats. 1949, Ch. 81.)
  78. 54472.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

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    The legislative body may set the terms for how bondholders, or a specified percentage of them, can enforce covenants or duties under this chapter.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54472. The legislative body may provide for the terms upon which the bondholders or any percentage of them may enforce covenants or duties imposed by this chapter. (Added by Stats. 1949, Ch. 81.)
  79. 54473.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may include a procedure in the resolution for amending or ending the resolution if the required bondholders consent.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54473. The legislative body may provide in the resolution 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. 1949, Ch. 81.)
  80. 54474.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A resolution with this procedure may also allow bondholder meetings or written assent without a meeting.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54474. Any resolution containing such a procedure 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. 1949, Ch. 81.)
  81. 54475.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

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    A resolution must state how an amendment affects bondholder and coupon-holder rights, and it binds holders of bonds and coupons issued under the resolution.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54475. The resolution shall specifically state the effect of amendment upon the rights of the holders of all of the bonds and attached or detached interest coupons and shall be binding upon the holders of all of the bonds and coupons issued pursuant to the resolution. (Added by Stats. 1949, Ch. 81.)
  82. 54476.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

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    The legislative body may authorize purchases of outstanding notes, bonds, or other obligations using available funds, and may तयermine the price and manner of purchase.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54476. The legislative body may provide for the purchase out of any available funds of any outstanding notes, bonds, or other obligations, and the price at which, and the manner in which, the purchases may be made. (Added by Stats. 1949, Ch. 81.)
  83. 54477.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may authorize other acts or things needed or helpful to secure bonds or make them easier to market.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54477. 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. 1949, Ch. 81.)
  84. 54478.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. )

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    Local agencies generally may not spend non-enterprise funds under this chapter, but they may use certain parking-meter revenues or other legally available funds as extra bond security, except tax proceeds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 5. Additional Powers to Secure Bonds [54460 - 54478] ( Article 5 added by Stats. 1949, Ch. 81. ) ## 54478. Except as hereinafter provided in this section, this chapter does not authorize any local agency to make any covenants, to perform any act, or to do anything which requires expending any funds other than revenues received or receivable from the enterprise and such other funds from any source as are legally available for such purpose and may be used by the local agency for such purpose without incurring indebtedness. Notwithstanding any other provision of this chapter, (a) a local agency may pledge, place a charge upon, contribute, or otherwise make available, as additional security for the payment of any bonds issued pursuant to this chapter for the purpose of providing funds for the acquisition, construction, improving or financing of public parking lots, garages, or other automotive parking facilities, any or all revenues or funds derived from any or all street parking meters then owned or controlled or thereafter acquired or controlled by such local agency; and (b) a local agency may also pledge, place a charge upon, or otherwise make available, as additional security for the payment of any bonds issued pursuant to this chapter any funds, including contributions, from any source which the local agency may legally apply to such purpose, excepting, however, any and all proceeds of taxation. (Amended by Stats. 1953, Ch. 526.)
  85. 545.

    ## 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 county seat of Santa Cruz County is 198 miles from Sacramento.

    ## 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. ) ## 545. From the county seat of Santa Cruz County to Sacramento it is one hundred and ninety-eight (198) miles. (Enacted by Stats. 1943, Ch. 134.)
  86. 5450.

    ## 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 5.5. Collateral Security for Bonds [5450 - 5452] ( Chapter 5.5 added by Stats. 1990, Ch. 966, Sec. 1. )

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    This section defines key terms used for collateral security for bonds, including bonds, collateral, pledge document, pledge, public body, and security interest.

    ## 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 5.5. Collateral Security for Bonds [5450 - 5452] ( Chapter 5.5 added by Stats. 1990, Ch. 966, Sec. 1. ) ## 5450. (a) “Bonds” means any bonds, notes, bond anticipation notes, commercial paper, or other evidences of indebtedness, or lease, installment purchase, or other agreements, or certificates of participation therein, that are not issued pursuant to statutory authority containing a provision governing the perfection and priority of pledges of collateral unless the provision provides that this chapter shall govern. (b) “Collateral” means any revenues, moneys, accounts receivable, contractual rights to payment, and other rights to payment of whatever kind, subject to the pledge provided for or created in a pledge document. (c) “Pledge document” means the resolution, ordinance, indenture, trust agreement, loan agreement, lease, installment sale agreement, reimbursement or similar agreement with any provider of credit enhancement for bonds, pledge agreement, or similar agreement in which the pledge is provided for or created. (d) “Pledge” means, and as used in any pledge document shall be deemed to create, a grant of a lien on and a security interest in and pledge of the collateral referred to in a pledge document. (e) “Public body” means the state or any city, county, city and county, district, other political subdivision of the state, public authority, or other public corporation which is authorized to issue bonds. “Public body” shall not include any private person, partnership, corporation, or other private entity, including any nonprofit private entity. (f) “Security interest” means a prior claim on any revenues, moneys, accounts receivable, contractual rights to payment, or other rights to payment, which are pledged in a pledge document, unless otherwise provided in the pledge document. (Added by Stats. 1990, Ch. 966, Sec. 1.)
  87. 5451.

    ## 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 5.5. Collateral Security for Bonds [5450 - 5452] ( Chapter 5.5 added by Stats. 1990, Ch. 966, Sec. 1. )

    Verify source ↗

    A public body’s collateral pledge for specified bond-related obligations is valid and binding when made.

    ## 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 5.5. Collateral Security for Bonds [5450 - 5452] ( Chapter 5.5 added by Stats. 1990, Ch. 966, Sec. 1. ) ## 5451. (a) A pledge of collateral by any public body to secure, directly or indirectly, the payment of the principal or redemption price of, or interest on, any bonds, or any reimbursement or similar agreement with any provider of credit enhancement for bonds, which is issued by or entered into by a public body, shall be valid and binding in accordance with the terms of the pledge document from the time the pledge is made for the benefit of pledgees and successors thereto. (b) The collateral shall immediately be subject to the pledge, and the pledge shall constitute a lien and security interest which shall immediately attach to the collateral and be effective, binding, and enforceable against the pledgor, its successors, purchasers of the collateral, creditors, and all others asserting the rights therein, to the extent set forth, and in accordance with, the pledge document irrespective of whether those parties have notice of the pledge and without the need for any physical delivery, recordation, filing, or further act. (Added by Stats. 1990, Ch. 966, Sec. 1.)
  88. 5451.5.

    ## 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 5.5. Collateral Security for Bonds [5450 - 5452] ( Chapter 5.5 added by Stats. 1990, Ch. 966, Sec. 1. )

    Verify source ↗

    Certain certificates of participation tied to the district are secured by a statutory lien on parcel tax revenues from Measure D.

    ## 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 5.5. Collateral Security for Bonds [5450 - 5452] ( Chapter 5.5 added by Stats. 1990, Ch. 966, Sec. 1. ) ## 5451.5. (a) All obligations of the West Contra Costa Healthcare District in connection with any and all certificates of participation executed and delivered by or on behalf of the district between June 8, 2004, and December 31, 2012, including certificates of participation executed and delivered before January 1, 2035, to refund those certificates of participation, shall be secured by a statutory lien on all of the revenues generated from parcel taxes levied pursuant to Measure D, approved by the voters of the district at the special election held on June 8, 2004. (b) This lien shall arise automatically without the need for any action or authorization by the district or the board of directors of the district. The lien shall be valid and binding from the time the certificates of participation are executed and delivered. (c) The parcel tax revenue shall immediately be subject to this lien, and the lien shall immediately attach to the parcel tax revenue and be effective, binding, and enforceable against the district, its successors, purchasers of those revenues, creditors, and all others asserting rights therein, irrespective of whether those parties have notice of the lien and without the need for any physical delivery, recordation, filing, or further act. (Added by Stats. 2011, Ch. 742, Sec. 1. (SB 644) Effective October 9, 2011.)
  89. 5451.7.

    ## 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 5.5. Collateral Security for Bonds [5450 - 5452] ( Chapter 5.5 added by Stats. 1990, Ch. 966, Sec. 1. )

    Verify source ↗

    Certain Palm Drive Health Care District bond-related obligations are secured by a statutory lien on parcel tax revenues from Measure W.

    ## 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 5.5. Collateral Security for Bonds [5450 - 5452] ( Chapter 5.5 added by Stats. 1990, Ch. 966, Sec. 1. ) ## 5451.7. (a) All obligations of the Palm Drive Health Care District in connection with any and all certificates of participation executed and delivered, or revenue bonds issued, by or on behalf of the district between January 1, 2005, and December 31, 2014, including certificates of participation executed and delivered or revenue bonds issued before 2035 to refund the revenue bonds or certificates of participation, shall be secured by a statutory lien on all of the revenues generated from parcel taxes levied pursuant to Measure W, approved by the voters of the district at the general election held on November 2, 2004. (b) This lien shall arise automatically without the need for any action or authorization by the district or the board of directors of the district. The lien shall be valid and binding from the time the certificates of participation are executed and delivered or the revenue bonds are issued. (c) The parcel tax revenue shall immediately be subject to this lien, and the lien shall immediately attach to the parcel tax revenue and be effective, binding, and enforceable against the district, its successors, purchasers of those revenues, creditors, and all others asserting rights therein, irrespective of whether those parties have notice of the lien and without the need for any physical delivery, recordation, filing, or further act. (Added by Stats. 2014, Ch. 23, Sec. 1. (AB 582) Effective June 16, 2014.)
  90. 5451.8.

    ## 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 5.5. Collateral Security for Bonds [5450 - 5452] ( Chapter 5.5 added by Stats. 1990, Ch. 966, Sec. 1. )

    Verify source ↗

    Certain City of Alameda Health Care District certificate-of-participation obligations must be secured by a statutory lien on parcel tax revenues.

    ## 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 5.5. Collateral Security for Bonds [5450 - 5452] ( Chapter 5.5 added by Stats. 1990, Ch. 966, Sec. 1. ) ## 5451.8. (a) (1) All obligations of the City of Alameda Health Care District in connection with any and all certificates of participation executed and delivered by or on behalf of the district between January 1, 2024, and December 31, 2034, including certificates of participation executed and delivered before 2064 to refund the certificates of participation, shall be secured by a statutory lien on all of the revenues generated from parcel taxes levied pursuant to Measure A, approved by the voters of the district at the general election held on April 9, 2002. (2) The proceeds of the certificates of participation shall only be used to finance construction projects and shall not be used to cover operational costs. (b) This lien shall arise automatically without the need for any action or authorization by the district or the board of directors of the district. The lien shall be valid and binding from the time the certificates of participation are executed and delivered. (c) The parcel tax revenue shall immediately be subject to this lien, and the lien shall immediately attach to the parcel tax revenue and be effective, binding, and enforceable against the district, its successors, purchasers of those revenues, creditors, and all others asserting rights therein, irrespective of whether those parties have notice of the lien and without the need for any physical delivery, recordation, filing, or further act. (Added by Stats. 2024, Ch. 148, Sec. 2. (AB 2157) Effective July 18, 2024.)
  91. 54510.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The duties in this article must be carried out by the local agency or its proper officers, agents, or employees.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54510. The duties prescribed by this article shall be performed by the local agency or its proper officers, agents, or employees. (Added by Stats. 1949, Ch. 81.)
  92. 54511.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The provision states that the relevant performance is an essential part of the local agency’s contract with the bondholders.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54511. Such performance is of the essence of the local agency’s contract with the bondholders. (Added by Stats. 1949, Ch. 81.)
  93. 54512.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency must pay, or cause payment of, the principal and interest on its bonds as stated in the bonds and coupons and the authorizing resolution.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54512. 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 coupons and in accordance with the resolution authorizing their issuance. (Added by Stats. 1949, Ch. 81.)
  94. 54513.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency must operate the enterprise efficiently and economically, subject to Section 54516.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54513. Subject to the provisions of Section 54516.1, the local agency shall operate the enterprise in an efficient and economical manner. (Amended by Stats. 1953, Ch. 526.)
  95. 54514.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency must set, revise, and collect charges for enterprise services, facilities, or water, subject to Section 54516.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54514. Subject to the provisions of Section 54516.1, the local agency shall prescribe, revise, and collect such charges that the services, facilities or water of the enterprise are furnished at the lowest possible cost consistent with sound economy, and prudent management, and the security and payment of the principal and interest of the bonds. (Amended by Stats. 1970, Ch. 1174.)
  96. 54515.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The available charges and pledged funds must be enough to cover specified bond and enterprise payments, in a set order.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54515. After making allowances for contingencies and error in the estimates, the charges, together with any other funds which under this chapter can legally be, and which are, pledged or otherwise made available for the respective purposes hereinafter set forth, shall be at least sufficient to pay the following amounts in the order set forth: (a) The interest on and principal of the bonds as they become due and payable. (b) All payments required for compliance with the resolution authorizing the issuance of the bonds or any other contract with the bondholders, including the creation of sinking and reserve funds. (c) All payments to meet any other obligations of the local agency which are charges, liens, or encumbrances upon, or payable from, the revenues of the enterprise. (d) All current expenses of maintenance and operation of the enterprise, except that if the legislative body provides in the resolution calling the election that maintenance and operation costs of the enterprise shall be paid from the revenues prior to the principal, interest and sums for other security funds, then the current expenses of such maintenance and operation shall precede any other payments provided in this section. (Amended by Stats. 1955, Ch. 395.)
  97. 54516.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency must operate, maintain, and preserve the enterprise in good repair and working order, subject to Section 54516.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54516. Subject to the provisions of Section 54516.1, the local agency shall operate, maintain and preserve the enterprise in good repair and working order. (Amended by Stats. 1953, Ch. 811.)
  98. 54516.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may contract to operate or manage an enterprise, but contract payments must come only from enterprise revenues, and the contract cannot transfer or limit specified local agency powers and duties.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54516.1. Subject to the provisions and limitations of any resolution authorizing the issuance of bonds and to the conditions specified in Section 54516.2 of this code, the local agency may contract, upon such terms and conditions as it may determine, with any person, firm or corporation, for the operation or management of an enterprise. Each such contract shall provide that all consideration to be paid thereunder shall be payable solely from the revenues of the enterprise, and all consideration under any such contract payable by the local agency shall be paid only from such revenues. A local agency shall not by any such contract transfer or attempt to transfer to any person, firm or corporation, or in any way restrict the exercise of the local agency’s legal powers and duties concerning: (a) The issuance and sale of bonds to provide funds for the acquisition, construction, improving or financing of the enterprise; (b) The payment of the principal of and interest on such bonds; (c) The receipt, handling and disbursement of and accounting for the proceeds of sale of the bonds; (d) The fixing of fees, tolls, rates, rentals and other charges for the services, facilities or water furnished by the enterprise; (e) The accounting for the revenues, receipts and other funds of the enterprise; and (f) The making and enforcing of ordinances and regulations to protect and promote public health and safety in connection with the enterprise and its operation. (Added by Stats. 1953, Ch. 811.)
  99. 54516.2.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency must award certain contracts to the lowest qualified responsible bidder after giving public notice and following specified timing and posting rules.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54516.2. The local agency shall let contracts made by it pursuant to Section 54516.1 to the lowest qualified responsible bidder after the publication of a notice inviting bids two or more times, not less than five days apart, in a newspaper of general circulation printed and published in the city. If there is no newspaper of general circulation printed or published in the city, copies of the notice shall be posted in at least three public places in the city. Publication shall be commenced or notice posted not less than 15 days prior to the date set in the notice for the opening of bids. The notice inviting bids shall distinctly and specifically describe the enterprise involved and the period of time for which the enterprise is to be operated or managed. If no bid which the local agency finds to be reasonable and valid is received upon the original advertising, the local agency need not readvertise. (Amended by Stats. 1957, Ch. 364.)
  100. 54516.3.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    For a hospital enterprise, the local agency may manage operations and may enter into a lease or contract, but it must first hold a public hearing after the required notice is published or posted.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54516.3. If the enterprise is a hospital, the local agency may provide for the administration, operation and maintenance of the whole or any part of the enterprise and for such purpose may enter into any lease agreement or contract which it believes will best serve the interest of the local agency by publication of notice inviting bids pursuant to Section 54516.2. Before entering into any such lease or contract, the local agency must first hold a public hearing on the question after publication or posting of notice thereof given in the same manner and for the same time as a notice inviting bids is required to be given by Section 54516.2. (Added by Stats. 1959, Ch. 1556.)
  101. 54517.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The local agency must protect the security of the bonds and the bondholders’ rights, and defend those rights against claims and demands from others.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54517. The local agency shall preserve and protect the security of the bonds and the rights of the bondholders and warrant and defend their rights against all claims and demands of all persons. (Added by Stats. 1949, Ch. 81.)
  102. 54518.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency must pay lawful claims for labor, materials, and supplies to protect the bonds’ priority and security.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54518. 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. 1949, Ch. 81.)
  103. 54519.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency must hold bond-related revenues and pledged funds in trust for bondholders, use them according to the bond resolution, and may invest certain reserve or sinking funds unless the investment would violate a bond covenant or agreement.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54519. The local agency shall hold in trust the revenues and other funds 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. 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 cities may legally invest funds subject to their control. No such investment shall be made in contravention of any covenant or agreement in any resolution authorizing the issuance of any outstanding bonds. (Amended by Stats. 1953, Ch. 526.)
  104. 5452.

    ## 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 5.5. Collateral Security for Bonds [5450 - 5452] ( Chapter 5.5 added by Stats. 1990, Ch. 966, Sec. 1. )

    Verify source ↗

    This chapter does not authorize new or increased authority to issue bonds.

    ## 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 5.5. Collateral Security for Bonds [5450 - 5452] ( Chapter 5.5 added by Stats. 1990, Ch. 966, Sec. 1. ) ## 5452. Nothing in this chapter shall be construed to authorize new or increased authority to issue bonds. (Added by Stats. 1990, Ch. 966, Sec. 1.)
  105. 54520.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency must keep separate books and accounts for the enterprise and make complete, correct entries for all enterprise transactions.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54520. The local agency shall keep proper books of record and accounts of the enterprise, separate from all other records and accounts, in which complete and correct entries shall be made of all transactions relating to the enterprise. (Added by Stats. 1949, Ch. 81.)
  106. 54521.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Books must be open to inspection by holders of at least 10% of the outstanding bonds, or their written representatives.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54521. 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. 1949, Ch. 81.)
  107. 54522.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency must publish an annual summary statement about bond-related revenues, disbursements, and the enterprise’s condition, and must provide a copy to any bondholder on request.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54522. The local agency shall cause to be published a summary statement showing the amount of gross revenues and the amount of all other funds collected which are required to be pledged or otherwise made available as security for payment of the principal of and interest on the bonds, the disbursements from such revenues and other funds in reasonable detail, and a general statement of the financial and physical condition of the enterprise. 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. (Amended by Stats. 1953, Ch. 526.)
  108. 54523.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may agree, in the bond-authorizing resolution, that the statement be prepared or audited by an independent CPA or public accountant and follow the form and detail set out in the resolution.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54523. 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 or public accountant and shall be in the form and contain the detail specified in the resolution. (Amended by Stats. 1959, Ch. 1936.)
  109. 54524.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency is not required to spend funds beyond the revenues and other legally available funds made available for the enterprise or for bond principal and interest.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 6. Duties of Local Agencies [54510 - 54524] ( Article 6 added by Stats. 1949, Ch. 81. ) ## 54524. The duties set forth in this article do not require the local agency to expend any funds other than revenues received or receivable from the enterprise and such other funds from any source as are legally available and as are made available for the enterprise or to secure payment of the principal of or interest on bonds as provided in this chapter. (Amended by Stats. 1953, Ch. 526.)
  110. 54550.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 7. Fiscal Agent [54550 - 54552] ( Article 7 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may appoint a fiscal agent when bonds are being issued.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 7. Fiscal Agent [54550 - 54552] ( Article 7 added by Stats. 1949, Ch. 81. ) ## 54550. In connection with the issuance of bonds a local agency may appoint a fiscal agent. (Added by Stats. 1949, Ch. 81.)
  111. 54551.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 7. Fiscal Agent [54550 - 54552] ( Article 7 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may set the fiscal agent’s powers, duties, functions, compensation, liabilities, resignation/removal process, and successor appointment process.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 7. Fiscal Agent [54550 - 54552] ( Article 7 added by Stats. 1949, Ch. 81. ) ## 54551. The local agency may: (a) Provide for the powers, duties, functions, and compensation of the fiscal agent. (b) Limit the liabilities of the fiscal agent. (c) Prescribe a method for his resignation and removal, and the merger or consolidation of fiscal agents. (d) Prescribe a method for the appointment of a successor fiscal agent and the transfer of rights and properties to the successor. (Added by Stats. 1949, Ch. 81.)
  112. 54552.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 7. Fiscal Agent [54550 - 54552] ( Article 7 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may authorize a fiscal agent to handle and apply certain revenues and pledged funds for bond payment purposes.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 7. Fiscal Agent [54550 - 54552] ( Article 7 added by Stats. 1949, Ch. 81. ) ## 54552. The local agency may authorize the fiscal agent to receive, collect, hold, or disburse revenues collected from the enterprise for or on account of the local agency or any other funds required to be pledged or otherwise made available as security for payment of the principal of and interest on the bonds, and to apply such revenues and other funds as provided in the resolution authorizing the issuance of the bonds. (Amended by Stats. 1953, Ch. 526.)
  113. 54580.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 8. Validating Proceedings [54580- 54580.] ( Article 8 repealed and added by Stats. 1961, Ch. 1551. )

    Verify source ↗

    An action to determine the validity of bonds may be brought 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 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 8. Validating Proceedings [54580- 54580.] ( Article 8 repealed and added by Stats. 1961, Ch. 1551. ) ## 54580. 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. (Repealed and added by Stats. 1961, Ch. 1551.)
  114. 546.

    ## 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 Shasta County to Sacramento is 171 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. ) ## 546. From the county seat of Shasta County to Sacramento it is one hundred and seventy-one (171) miles. (Enacted by Stats. 1943, Ch. 134.)
  115. 54610.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 9. Contributions [54610 - 54615] ( Article 9 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may accept contributions or loans from the United States or a federal agency for certain financing and enterprise-related costs.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 9. Contributions [54610 - 54615] ( Article 9 added by Stats. 1949, Ch. 81. ) ## 54610. Notwithstanding any provision of this chapter to the contrary, the legislative body may accept contributions or loans from the United States, or a federal department, instrumentality, or agency for financing or aiding in financing the cost of preliminary investigations and studies, surveys, plans and specifications, procedures and other action preliminary to construction, and the construction, maintenance, and operation of an enterprise. (Amended by Stats. 1949, Ch. 1555.)
  116. 54611.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 9. Contributions [54610 - 54615] ( Article 9 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may contract and cooperate with the United States or a federal agency for specified planning, construction, operation, and financing activities related to an enterprise authorized by federal legislation.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 9. Contributions [54610 - 54615] ( Article 9 added by Stats. 1949, Ch. 81. ) ## 54611. The local agency may enter into contracts and cooperate with the United States or a federal department, instrumentality, or agency in the making of preliminary investigations, studies and surveys, preparation of plans and specifications and in the accomplishment of procedures and other action preliminary to construction, in the construction, maintenance, and operation, and in financing or aiding in financing the cost of preliminary investigations and studies, surveys, plans and specifications, procedures and other action preliminary to construction and of the construction, maintenance, and operation, of any enterprise pursuant to federal legislation under which aid, assistance, and cooperation may be furnished for these purposes by the United States. (Amended by Stats. 1949, Ch. 1555.)
  117. 54612.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 9. Contributions [54610 - 54615] ( Article 9 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may take any necessary action to obtain the aid and cooperation mentioned in the section.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 9. Contributions [54610 - 54615] ( Article 9 added by Stats. 1949, Ch. 81. ) ## 54612. The legislative body may do any and all things necessary to avail itself of such aid and cooperation. (Added by Stats. 1949, Ch. 81.)
  118. 54613.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 9. Contributions [54610 - 54615] ( Article 9 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The legislative body may accept contributions from, contract with, and cooperate with specified public entities for enterprise construction, maintenance, operation, financing, and use.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 9. Contributions [54610 - 54615] ( Article 9 added by Stats. 1949, Ch. 81. ) ## 54613. The legislative body may accept contributions from, contract, and cooperate with, the State, any state department, instrumentality, or agency, or any municipal corporation, public corporation, or district in the construction, maintenance, and operation of, and in financing of, any enterprise and for the use of any enterprise and the services and water furnished by it for public or private purposes. (Amended by Stats. 1949, Ch. 1488.)
  119. 54614.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 9. Contributions [54610 - 54615] ( Article 9 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Contributions may consist of money, rights of way, labor, materials, and other property.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 9. Contributions [54610 - 54615] ( Article 9 added by Stats. 1949, Ch. 81. ) ## 54614. The contributions may consist of money, rights of way, labor, materials, and other property. (Added by Stats. 1949, Ch. 81.)
  120. 54615.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 9. Contributions [54610 - 54615] ( Article 9 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may make contributions from certain Section 54478 funds for the purposes listed in this article.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 9. Contributions [54610 - 54615] ( Article 9 added by Stats. 1949, Ch. 81. ) ## 54615. The local agency may also make contributions, for any of the purposes specified in this article, of any of the funds referred to in Section 54478. (Added by Stats. 1953, Ch. 526.)
  121. 54640.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A bondholder or the trustee may use the remedies listed in this article, subject to any binding contractual limits.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. ) ## 54640. Subject to any contractual limitations binding upon a bondholder or his trustee, any bondholder or his trustee has the remedies set forth in this article for the equal benefit and protection of all bondholders similarly situated. (Added by Stats. 1949, Ch. 81.)
  122. 54641.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    The section says contractual limitations can include limits on exercising a remedy when bondholders or trustees hold a specific percentage of the bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. ) ## 54641. Such contractual limitations include, but are not limited to, any limitation upon the exercise of a remedy to bondholders or their trustees holding a specific percentage of the bonds. (Added by Stats. 1949, Ch. 81.)
  123. 54642.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A bondholder or trustee may use mandamus or another lawsuit to enforce rights against the local agency and to compel it and related officials or employees to carry out their chapter duties and bondholder agreements.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. ) ## 54642. By mandamus or other suit or proceeding at law or in equity a bondholder or his trustee may enforce his rights against the local agency, its legislative body, and any of its officers, agents, and employees and compel them to perform and carry out their duties under this chapter and their agreements with bondholders. (Added by Stats. 1949, Ch. 81.)
  124. 54643.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A bondholder or the bondholder’s trustee may, through a suit in equity, require the local agency and its legislative body to account as trustee of an express trust.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. ) ## 54643. By a suit in equity a bondholder or his trustee may require the local agency and its legislative body to account as the trustee of an express trust. (Added by Stats. 1949, Ch. 81.)
  125. 54644.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A bondholder or the bondholder’s trustee may sue in equity to stop unlawful acts or acts that violate bondholders’ rights.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. ) ## 54644. By suit in equity a bondholder or his trustee may enjoin any acts or things which are unlawful or violate the bondholders’ rights. (Added by Stats. 1949, Ch. 81.)
  126. 54645.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A bondholder or trustee may use remedies under this chapter without giving up or exhausting other available remedies.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. ) ## 54645. The remedies conferred upon any bondholder or his trustee by this chapter do not exclude any other remedy. Each remedy is cumulative and in addition to every other remedy and may be exercised without exhausting and without regard to any other remedy conferred by this chapter or other law. (Added by Stats. 1949, Ch. 81.)
  127. 54646.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A waiver by a bondholder or trustee of one default or breach does not affect later defaults or breaches, and it does not reduce rights or remedies for the later problem.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. ) ## 54646. A waiver of any default or breach of duty or contract by any bondholder or his trustee does not affect any subsequent default or breach of duty or contract nor impair any rights or remedies on the subsequent default or breach. (Added by Stats. 1949, Ch. 81.)
  128. 54647.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    If a bondholder or trustee delays or omits to exercise a right or power after a default, that delay does not weaken the right or power and does not count as a waiver of the default.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. ) ## 54647. The delay or omission of any bondholder or his trustee to exercise any right or power accruing upon any default does not impair the right or power and is not a waiver of the default or acquiescence in it. (Added by Stats. 1949, Ch. 81.)
  129. 54648.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Bondholders or their trustee may enforce and exercise their substantive rights and remedies as often as is deemed expedient.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. ) ## 54648. Every substantive right and remedy conferred upon the bondholders or their trustee may be enforced and exercised as often as is deemed expedient. (Added by Stats. 1949, Ch. 81.)
  130. 54649.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    If a bondholder enforcement suit ends badly for the bondholders or their trustees, the local agency and bondholder or trustee must be restored to their former positions, rights, and remedies.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 10. Remedies of Bondholders [54640 - 54649] ( Article 10 added by Stats. 1949, Ch. 81. ) ## 54649. If a suit, action, or proceeding to enforce any right or exercise any remedy is abandoned or determined adversely to the bondholders or their trustees, the local agency and bondholder or trustee shall be restored to their former positions, rights, and remedies as if such suit, action, or proceeding had not been brought or taken. (Added by Stats. 1949, Ch. 81.)
  131. 54660.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11. Refunding Bonds [54660 - 54662] ( Article 11 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    A local agency may issue, sell, or exchange refunding bonds to redeem or retire bonds it has issued, on terms, timing, and procedures set by its legislative body.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11. Refunding Bonds [54660 - 54662] ( Article 11 added by Stats. 1949, Ch. 81. ) ## 54660. A local agency may provide for the issuance, sale, or exchange of refunding bonds to redeem or retire bonds issued by it upon the terms, at the times, and in the manner which its legislative body determines. (Added by Stats. 1949, Ch. 81.)
  132. 54661.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11. Refunding Bonds [54660 - 54662] ( Article 11 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    This section says refunding bonds are generally subject to the chapter’s bond-issuance rules, except Article 3, and the legislative body may authorize issuance, sale, or exchange by resolution.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11. Refunding Bonds [54660 - 54662] ( Article 11 added by Stats. 1949, Ch. 81. ) ## 54661. All provisions of this chapter applicable to the issuance and sale of bonds, except the provisions of Article 3, are applicable to refunding bonds and to their issuance and sale or exchange. No election shall be required to authorize the issuance of refunding bonds. The legislative body may provide for their issuance and sale or exchange by resolution to take effect upon adoption. If the legislative body determines to sell the refunding bonds or any part thereof, they shall be offered for sale in the manner provided by Section 54388. (Amended by Stats. 1963, Ch. 1296.)
  133. 54662.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11. Refunding Bonds [54660 - 54662] ( Article 11 added by Stats. 1949, Ch. 81. )

    Verify source ↗

    Funding or refunding bonds may be issued in an amount enough to pay specified bond-related costs and amounts.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11. Refunding Bonds [54660 - 54662] ( Article 11 added by Stats. 1949, Ch. 81. ) ## 54662. Funding or refunding bonds may be issued in a principal amount sufficient to provide funds for the payment of all of the following: (a) All bonds to be funded or refunded by them. (b) All expenses incident to the calling, retiring, or paying of the outstanding bonds and the issuance of the funding or refunding bonds, including the difference in amount between the par value of the funding or refunding bonds and any amount less than that for which the funding or refunding bonds may be sold. (c) Interest upon the funding or refunding bonds from the date of sale to the date of payment of the bonds to be funded or refunded out of the proceeds of the sale or the date upon which the bonds to be funded or refunded will be paid pursuant to the call or agreement with the holders of such bonds. (d) Any premium necessary in the calling or retiring of the outstanding bonds and the interest accruing on them to the date of the call or retirement. (Added by Stats. 1949, Ch. 81.)
  134. 54664.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11.5. Revenue Bond Anticipation Notes [54664 - 54667] ( Article 11.5 added by Stats. 1975, Ch. 27. )

    Verify source ↗

    A legislative body may authorize local agency notes for up to two years, and the note proceeds must be used only for the purposes originally authorized for the bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11.5. Revenue Bond Anticipation Notes [54664 - 54667] ( Article 11.5 added by Stats. 1975, Ch. 27. ) ## 54664. When the legislative body deems it in the best interests of the local agency, it may authorize the issuance of notes, on a negotiated or a competitive bid basis, maturing within a period not to exceed two years, in anticipation of the sale of bonds duly authorized at the time such notes are issued. Such notes and the resolution providing for the issuance of such notes may contain any provision, condition or limitation which a bond, or any resolution or ordinance providing for the issuance of such bond, may contain. The proceeds from the sale of such notes shall be used only for the purposes for which the bonds were authorized. (Added by Stats. 1975, Ch. 27.)
  135. 54665.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11.5. Revenue Bond Anticipation Notes [54664 - 54667] ( Article 11.5 added by Stats. 1975, Ch. 27. )

    Verify source ↗

    Revenue bond anticipation notes must be payable at a fixed time, and the treasurer must issue a renewal note only if the bonds have not been sold before the notes mature.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11.5. Revenue Bond Anticipation Notes [54664 - 54667] ( Article 11.5 added by Stats. 1975, Ch. 27. ) ## 54665. All notes issued pursuant to this article and any renewal thereof shall be payable at a fixed time, except that in the event that the sale of the bonds shall not have occurred prior to the maturity of the notes issued in anticipation of the sale, the treasurer shall, in order to meet the notes then maturing, issue renewal notes for such purpose. No renewal of a note shall be issued after the sale of bonds in anticipation of which the original note was issued. There shall be only one renewal of any note issued pursuant to this article, and such renewal note shall mature within a period not to exceed two years. (Added by Stats. 1975, Ch. 27.)
  136. 54666.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11.5. Revenue Bond Anticipation Notes [54664 - 54667] ( Article 11.5 added by Stats. 1975, Ch. 27. )

    Verify source ↗

    Revenue bond anticipation notes can be paid from enterprise revenues, but unpaid amounts must be paid from the next bond sale proceeds, and the amount of bonds later issued is reduced if revenues were used. The total outstanding notes cannot exceed the unsold bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11.5. Revenue Bond Anticipation Notes [54664 - 54667] ( Article 11.5 added by Stats. 1975, Ch. 27. ) ## 54666. The principal of, and interest on, such notes may be paid from the revenues of the enterprise. If such notes, or any portion thereof, or the interest thereon, have not been previously paid, they shall be paid from the proceeds of the next sale of bonds in anticipation of which the notes were issued. If any of the principal of such notes is paid from the revenues of the enterprise rather than the proceeds of the sale of bonds, the amount of bonds the local agency is authorized to thereafter issue shall be reduced by the amount so paid from the revenues of the enterprise. The total amount of such notes or renewals thereof issued and outstanding shall not exceed the total amount of the unsold bonds. (Added by Stats. 1975, Ch. 27.)
  137. 54667.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11.5. Revenue Bond Anticipation Notes [54664 - 54667] ( Article 11.5 added by Stats. 1975, Ch. 27. )

    Verify source ↗

    Notes may be issued under this article before or after its effective date if they are issued in anticipation of selling authorized bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 11.5. Revenue Bond Anticipation Notes [54664 - 54667] ( Article 11.5 added by Stats. 1975, Ch. 27. ) ## 54667. Notes may be issued pursuant to this article in anticipation of the sale of bonds authorized either before or after the effective date of this article. (Added by Stats. 1975, Ch. 27.)
  138. 54670.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 12. Annexation and Exclusion [54670 - 54672] ( Article 12 added by Stats. 1951, Ch. 630. )

    Verify source ↗

    Annexed territory using an enterprise’s services, facilities, or water becomes subject to the local agency’s rates and charges.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 12. Annexation and Exclusion [54670 - 54672] ( Article 12 added by Stats. 1951, Ch. 630. ) ## 54670. Territory which has become annexed to a local agency which has authorized the issuance of bonds pursuant to this chapter, and which territory shall use the services, facilities, or water of the enterprise, shall become subject to the rates and charges imposed by the local agency for such use. (Added by Stats. 1951, Ch. 630.)
  139. 54671.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 12. Annexation and Exclusion [54670 - 54672] ( Article 12 added by Stats. 1951, Ch. 630. )

    Verify source ↗

    A territory withdrawn from a local agency may still have to pay the local agency’s rates and charges if it continues using the enterprise’s services, facilities, or water.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 12. Annexation and Exclusion [54670 - 54672] ( Article 12 added by Stats. 1951, Ch. 630. ) ## 54671. Territory which has been withdrawn from a local agency which has authorized the issuance of bonds pursuant to this chapter, and which territory shall continue to use the services, facilities, or water of the enterprise, shall remain liable for the payment of the rates and charges imposed by the local agency for such use. (Added by Stats. 1951, Ch. 630.)
  140. 54672.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 12. Annexation and Exclusion [54670 - 54672] ( Article 12 added by Stats. 1951, Ch. 630. )

    Verify source ↗

    A city with annexed territory may contract with the local agency to make annual or less frequent payments instead of the rates and charges that owners or residents would otherwise pay for use of the enterprise.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 12. Annexation and Exclusion [54670 - 54672] ( Article 12 added by Stats. 1951, Ch. 630. ) ## 54672. A city to which any territory has been annexed, whether or not said territory has been withdrawn from a local agency which has authorized the issuance of bonds pursuant to this chapter, and which territory shall continue to use the services, facilities, or water of the enterprise, may contract with the local agency to pay the local agency annually or at lesser intervals a sum or sums in lieu of the payment by the owners or residents within said territory of the rates and charges imposed by the local agency for such use. (Added by Stats. 1951, Ch. 630.)
  141. 547.

    ## 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 county seat of Sierra County is 119 miles from Sacramento.

    ## 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. ) ## 547. From the county seat of Sierra County to Sacramento it is one hundred and nineteen (119) miles. (Enacted by Stats. 1943, Ch. 134.)
  142. 54700.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 13. Construction [54700- 54700.] ( Article 13 added by Stats. 1955, Ch. 602. )

    Verify source ↗

    If part of this chapter is held invalid, the rest still remains valid.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6. Revenue Bond Law of 1941 [54300 - 54700] ( Heading of Chapter 6 amended by Stats. 1959, Ch. 597. ) ## ARTICLE 13. Construction [54700- 54700.] ( Article 13 added by Stats. 1955, Ch. 602. ) ## 54700. If any section, subsection, sentence, clause, or phrase of this chapter, or the application thereof to any person or circumstance, is for any reason held invalid, the validity of the remainder of the chapter, or the application of such provision to other persons or circumstances, shall not be affected thereby. The Legislature hereby declares that it would have passed this chapter, and each section, subsection, sentence, clause, and phrase thereof, irrespective of the fact that one or more sections, subsections, sentences, clauses or phrases, or the application thereof to any person or circumstance, be held invalid. (Added by Stats. 1955, Ch. 602.)
  143. 54700.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    This article’s definitions control how this chapter is read, unless the context requires otherwise.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54700.1. The definitions set forth in this article govern the construction of this chapter, unless the context requires otherwise. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  144. 54700.2.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    This section defines “bonds” for this chapter.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54700.2. “Bonds” means bonds, notes or other evidence of indebtedness issued by a city pursuant to this chapter and secured by rental or lease revenues derived from rental housing for employees. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  145. 54700.3.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    This section defines “local agency” as a city, a city and county, or a county.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54700.3. “Local agency” means a city, a city and county or a county. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  146. 54700.4.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    This section defines “construct” or “construction” for employee rental housing.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54700.4. “Construct” or “construction” means all activities necessary or incidental to the construction of housing including, but not limited to, acquisition of property or any interest therein, construction, reconstruction, rehabilitation or maintenance, repair or operation of any property or improvement. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  147. 54700.5.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    This section defines “employee” for the chapter.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54700.5. “Employee” means an employee of the local agency, the state or any political subdivision thereof, special district, including a school district, or any other local government entity, or an employee of a public or private utility whom the legislative body has determined performs a function essential to the public health, safety or welfare. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  148. 54700.6.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    This section defines “housing” for the chapter.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54700.6. “Housing” means any dwelling or residential structure, including, but not limited to, single-family detached dwellings, multi-family dwellings or modular housing or mobilehomes. “Housing” also means a park or other site or facility suitable for modular housing or mobilehomes, and such park or other site or facility may include pads or other foundations, utility connections, and other appropriate on-site improvements. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  149. 54700.7.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    This section defines “legislative body” as the city council or the board of supervisors, depending on the case.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54700.7. “Legislative body” means the city council or the board of supervisors, as the case may be. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  150. 54700.8.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    “State” means the State of California, and sometimes includes any agency or instrumentality of the State when context requires it.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 1. Definitions [54700.1 - 54700.8] ( Article 1 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54700.8. “State” means the State of California and, where the context requires, any agency or instrumentality thereof. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  151. 54701.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency may build, or arrange to have built, rental housing for employees.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54701.1. A local agency may construct or cause to be constructed rental housing for employees. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  152. 54701.10.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    Bonds issued under this chapter are not to be treated as a debt or liability of the local agency.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54701.10. Bonds issued under the provisions of this chapter shall not be deemed to constitute a debt or liability of the local agency for which is pledged the faith and credit of the local agency. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  153. 54701.11.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency may acquire property for employee rental housing and may later lease, sell, or dispose of it to support the chapter’s purposes.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54701.11. All construction shall be undertaken or completed subject to the rules and regulations of the local agency. A local agency may acquire by deed, purchase, lease, contract, gift, devise, or otherwise any real or personal property, structures, rights, rights-of-way, franchises, easements, and other interests in property necessary or convenient for the construction or the financing of construction of rental housing for employees, upon such terms and conditions as it deems advisable, and may lease, sell, or dispose of the same in such manner as may be necessary or desirable to carry out the objectives and purposes of this chapter. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  154. 54701.12.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    Local agencies must require certain construction contractors and subcontractors to provide equal employment opportunity without discrimination based on listed or defined characteristics.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54701.12. A local agency shall require that contractors and subcontractors engaged in construction financed under this chapter shall provide equal opportunity for employment, without discrimination as to any characteristic listed or defined in Section 12926 or 12926.1. All contracts and subcontracts for construction financed under this chapter shall be let without discrimination as to any of those characteristics. (Amended by Stats. 2008, Ch. 682, Sec. 2. Effective January 1, 2009.)
  155. 54701.13.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    At least 20% of certain rental housing units financed from city or county bond proceeds must be reserved for lower-income households at affordable rents.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54701.13. Not less than 20 percent of the total number of units of housing for rent which are financed, or for which financing has been extended or committed, pursuant to this chapter from the proceeds of each bond issuance of the city or county, shall be for occupancy on a priority basis by lower income households, as defined in Section 50079.5 of the Health and Safety Code, at affordable rents, as defined in Section 50053 of the Health and Safety Code. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  156. 54701.2.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency may issue bonds under this chapter to finance employee rental housing construction or to fund or refund earlier bonds.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54701.2. A local agency may issue bonds pursuant to this chapter for the purpose of financing the construction of rental housing for employees and for the purpose of funding or refunding previously issued bonds. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  157. 54701.3.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency must use employee rental housing revenues as the pledged revenues for repaying bonds, and it may also use funds from any source for that repayment.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54701.3. Rental and lease revenues derived from rental housing for employees shall be the sole revenues of the local agency pledged for the repayment of bonds issued pursuant to this chapter. A local agency may appropriate funds from whatever source derived to the repayment of bonds issued pursuant to this chapter. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  158. 54701.4.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency may hire technical and financial professionals, and other needed services, for employee rental housing projects.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54701.4. A local agency may retain engineers, architects, accountants, financial consultants, bond counsel, or other services as may be necessary in the judgment of the legislative body for the construction or financing of construction of rental housing for employees. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  159. 54701.5.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency may do anything necessary or convenient to carry out this chapter’s purposes.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54701.5. In addition to all other powers granted by this chapter, a local agency may do all things necessary or convenient to carry out the purposes of this chapter. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  160. 54701.6.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    The legislative body may award contracts to build employee housing, either by negotiation or after competitive bidding with notice.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54701.6. Notwithstanding any other provision of law, the legislative body may award contracts for the construction of housing for employees by negotiation or following the receipt of competitive bids after notice inviting such bids. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  161. 54701.7.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    Housing for employees built under this chapter is exempt from Section 30213 of the Public Resources Code.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54701.7. Construction of housing for employees pursuant to this chapter shall be exempt from the provisions of Section 30213 of the Public Resources Code. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  162. 54701.8.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency may accept financial or other assistance from public or private sources and may use those funds for purposes of this chapter.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54701.8. A local agency may accept financial or other assistance from any public or private source, and may expend any funds so accepted for any of the purposes of this chapter. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  163. 54701.9.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    Contributions made by certain public entities for the purposes of this chapter are declared to be a proper public purpose.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 2. Powers and Procedures [54701.1 - 54701.13] ( Article 2 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54701.9. Contributions for any of the purposes of this chapter by a city, the state or any political subdivision thereof, a special district, including a school district, or any other local governmental entity, are hereby declared to be for a proper public purpose. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  164. 54702.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency may issue bonds and bond anticipation notes to finance rental housing for employees, and any such note or renewal must mature within two years of the original note’s issuance.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.1. (a) A local agency may, from time to time, issue its bonds for the purpose of financing construction of rental housing for employees. In anticipation of the sale of bonds, the local agency may issue negotiable bond anticipation notes and may renew such notes from time to time. Bond anticipation notes may be paid from the proceeds of sale of the bonds of the local agency in anticipation of which they were issued. Bond anticipation notes and the resolution or resolutions authorizing such note may contain any provisions, conditions, or limitations which a bond, agreement relating thereto, or bond resolution of the local agency may contain except that any such note or renewal thereof shall mature at a time not later than two years from the date of the issuance of the original note. (b) The bonds shall be a special obligation of the local agency payable from all or any part of the rental or lease revenues or other funds as specified in this chapter. The bonds shall be negotiable instruments for all purposes, subject only to the provisions of such bonds for registration. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  165. 54702.10.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    Revenue bonds issued under this chapter are treated as legal investments and may be deposited with or received by specified public officers and agencies.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.10. Notwithstanding any other provision of law, revenue bonds issued pursuant to this chapter shall be legal investments for all trust funds, insurance companies, savings and loan associations, investment companies and banks, both savings and commercial, and shall be legal investments for executors, administrators, guardians, conservators, trustees, and all other fiduciaries. Such bonds shall be legal investments for state school funds and for any funds which may be invested in county, municipal, or school district bonds, and such bonds shall be deemed to be securities which may properly and legally be deposited with, and received by, any state or municipal officer or by any agency or political subdivision of the state for any purpose for which the deposit of bonds or obligations of the state is now, or may hereafter be authorized by law, including deposits to secure public funds. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  166. 54702.11.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    Bonds issued under this chapter, and their transfer and income, are exempt from most state and local taxation, except inheritance and gift taxes.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.11. The exercise of the powers granted by this chapter shall be in all respects for the benefit of the people of this state and for their health and welfare. Any bonds issued under the provisions of this chapter, their transfer and the income therefrom, shall at all times be free from taxation of every kind by the state and by the municipalities and other political subdivisions of the state, except inheritance and gift taxes. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  167. 54702.12.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    If the local agency’s jurisdiction to order a proposed act is not affected, an omission or other defect in proceedings under this chapter does not invalidate the proceedings or the bonds issued under it.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.12. If the jurisdiction of the local agency to order a proposed act is not affected, an omission of any officer or the local agency in proceedings under this chapter or any other defect in the proceedings shall not invalidate the proceedings or bonds issued pursuant to this chapter. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  168. 54702.13.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency has full authority to issue bonds to finance construction of rental housing for employees.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.13. This chapter is full authority for the issuance of bonds by a local agency for the purpose of financing construction of rental housing for employees. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  169. 54702.14.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    Bond issuance and refunding bonds under this chapter do not have to follow other laws that would otherwise apply, except Sections 8855, 8856, and 8857 still apply.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.14. This chapter shall be deemed to provide a complete, additional, and alternative method for doing the things authorized thereby, and shall be regarded as supplemental and additional to the powers conferred by other laws. The issuance of bonds and refunding bonds under the provisions of this chapter need not comply with the requirements of any other law applicable to the issuance of bonds except that Sections 8855, 8856, and 8857 shall apply. (Amended by Stats. 1981, Ch. 1092, Sec. 2.)
  170. 54702.15.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A court action may be brought to test the validity of bond issuances under this chapter and related local-agency proceedings.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.15. An action may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure to determine the validity of any issuance or proposed issuance of bonds under this chapter and the legality and validity of all proceedings previously taken or proposed in a resolution of a local agency to be taken for the authorization, issuance, sale, and delivery of the bonds and for the payment of the principal thereof and interest thereon. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  171. 54702.2.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency may count bond issuance costs, bond reserve funds, and bond interest when determining the amount of bonds to issue.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.2. In determining the amount of bonds to be issued, the local agency may include all costs of the issuance of such bonds, bond reserve funds, and bond interest. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  172. 54702.3.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency may issue and sell bonds, including serial bonds, term bonds, or both, subject to resolution terms and a 6% discount limit when sold below par.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.3. The bonds may be issued as serial bonds or as term bonds, or the local agency, in its discretion, may issue bonds of both types. The bonds shall be authorized by resolution of the local agency and shall bear interest at such fixed or variable rate or rates, be payable at such time or times, be in such denominations, be in such form either coupon or registered, carry such registration privileges, be executed in such manner, be payable in lawful money of the United States of America at such place or places, and be subject to such terms of redemption as the resolution or resolutions of the local agency may provide. The bonds may be sold at either a public or private sale and for such prices as the local agency shall determine. Pending preparation of the definitive bonds, the local agency may issue interim receipts, certificates, or temporary bonds, which shall be exchanged for such definitive bonds. The local agency may sell bonds at a price below the par value thereof, but the discount on any bond so sold shall not exceed 6 percent of the par value thereof. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  173. 54702.4.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A bond-authorizing resolution may include specified bond terms and conditions, and those terms become part of the contract with bondholders.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.4. Any resolution or resolutions authorizing any bonds or any issue of bonds may contain provisions respecting any of the following terms and conditions, which shall be a part of the contract with the holders of the bonds: (a) The pledge of all or any part of the rental and lease revenues, subject to such agreements with bondholders as may then exist. (b) The setting aside of reserves or sinking funds and the regulation and disposition thereof. (c) Limitations on the purposes to which the proceeds of a sale of any issue of bonds, then or thereafter issue, may be applied, and pledging such proceeds to secure the payment of the bonds or any issue of bonds. (d) Limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured, and the refunding of outstanding bonds. (e) The procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds the holders of which must consent thereto, and the manner in which such consent may be given. (f) Limitation on expenditures for operation, administration, or other expenses of the local agency. (g) Specification of the acts or omissions to act which shall constitute a default in the duties of the local agency to holders of the bonds, and providing the rights and remedies of such holders in the event of default. (h) The mortgaging of any housing and the site thereof for the purpose of securing the bondholders. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  174. 54702.5.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    Members of the legislative body and people who execute the bonds are not personally liable for the bonds or for liabilities arising from issuing them.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.5. No member of the legislative body nor any person executing the bonds shall be liable personally on the bonds or be subject to any personal liability or accountability by reason of the issuance thereof. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  175. 54702.6.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency may buy its own bonds and may hold, pledge, cancel, or resell them.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.6. The local agency may purchase its bonds from any source of funds available therefor. The local agency may hold, pledge, cancel, or resell such bonds, subject to and in accordance with agreements with the bondholders. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  176. 54702.7.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency may secure bonds issued under this chapter with a trust agreement and may include related bondholder-protection terms.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.7. In the discretion of the local agency, any bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the local agency and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company within or without this state. Such a trust agreement or the resolution providing for the issuance of bonds may pledge or assign the revenues to be received and may convey or mortgage any housing the construction of which is to be financed from the proceeds of such bonds. Such trustee agreement or resolution providing for the issuance of bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including such provisions as may be included in any resolution or resolutions of the local agency authorizing the issuance of the bonds. Any such trust agreement may set forth the rights and remedies of the bondholders and of the trustee or trustees, and may restrict the individual right of action by bondholders. In addition to the foregoing, any such trustee agreement or resolution may contain such other provisions as the local agency may deem reasonable and proper for the security of the bondholders. All expenses incurred in carrying out the provisions of such trustee agreement or resolution may be treated as a part of the cost of issuance of the bonds. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  177. 54702.8.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    Bondholders and appointed trustees may sue or use other proceedings to protect and enforce rights, and to compel performance of required duties, unless the bond resolution restricts those rights.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.8. Any holder of bonds issued under the provisions of this chapter or any of the coupons appertaining thereto, and the trustee or trustees appointed pursuant to any resolution authorizing the issuance of such bonds, except to the extent the rights thereof may be restricted by the resolution authorizing the issuance of the bonds, may, either at law or in equity, by suit, action, mandamus, or other proceedings, protect or enforce any and all rights specified in the laws of this state or in such resolution, and may enforce and compel the performance of all duties required by this chapter or by such resolution to be performed by the local agency or by any officer, employee, or agent thereof. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  178. 54702.9.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. )

    Verify source ↗

    A local agency may issue city bonds to refund outstanding bonds, cover related premiums and interest, and optionally fund additional employee rental housing construction.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.3. Employee Rental Housing [54700.1 - 54702.15] ( Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148. ) ## ARTICLE 3. Bonds and Notes [54702.1 - 54702.15] ( Article 3 added by Stats. 1981, Ch. 1092, Sec. 1. ) ## 54702.9. Any local agency may provide for the issuance of bonds of the city for the purpose of refunding any bonds of the local agency then outstanding, including the payment of any redemption premiums thereof and any interest accrued or to accrue to the earliest or subsequent date of redemption, purchase, or maturity of such bonds, and, if deemed advisable by the local agency, for the additional purpose of paying all or any part of the cost of additional construction of rental housing for employees. The proceeds of bonds issued pursuant to this section may, in the discretion of the local agency, be applied to the purchase or retirement at maturity or redemption of outstanding bonds, either at their earliest or any subsequent redemption date or upon the purchase or retirement at the maturity thereof and, pending such application, that portion of the proceeds allocated for such purpose may be placed in escrow, to be applied to such purchase or retirement at maturity or redemption on such date, as may be determined by the local agency. Pending use for purchase, retirement at maturity, or redemption of outstanding bonds, any proceeds held in such an escrow may be invested and reinvested as provided in the resolution authorizing the issuance of the refunding bonds. Any interest or earnings realized on any such investment may also be applied to the payment of the outstanding bonds to be refunded. After the terms of the escrow have been fully satisfied and carried out, any balance of such proceeds and any interest or increment earned or realized from the investment thereof may be returned to the local agency to be used by it for any of the purposes of this chapter. That portion of the proceeds of any bonds issued pursuant to this section which is designated for the purpose of paying all or any part of the cost of additional construction may be invested and reinvested in obligations of, or guaranteed by, the United States of America or in certificates of deposit or time deposits secured by obligation of, or guaranteed by, the United States of America, maturing not later than the time or times when such proceeds will be needed for the purpose of paying all or any part of such costs. All bonds issued pursuant to this section shall be subject to the provisions of this chapter in the same manner and to the same extent as other bonds issued pursuant to this chapter. (Added by Stats. 1981, Ch. 1092, Sec. 1.)
  179. 54703.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 1. General Provisions [54703 - 54703.5] ( Article 1 added by Stats. 1982, Ch. 487, Sec. 3. )

    Verify source ↗

    This chapter is known and may be cited as the Benefit Assessment Act of 1982.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 1. General Provisions [54703 - 54703.5] ( Article 1 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54703. This chapter shall be known and may be cited as the Benefit Assessment Act of 1982. (Added by renumbering Section 54701 by Stats. 1984, Ch. 144, Sec. 149.)
  180. 54703.1.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 1. General Provisions [54703 - 54703.5] ( Article 1 added by Stats. 1982, Ch. 487, Sec. 3. )

    Verify source ↗

    The Legislature states that local agencies may finance property-related services by imposing assessments on benefited property, and that such assessments are not general taxes.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 1. General Provisions [54703 - 54703.5] ( Article 1 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54703.1. The Legislature finds and declares that it is in the public interest to allow local agencies to finance property related services through the imposition of an assessment upon the property which benefits from those services. The Legislature also finds and declares that assessments imposed for the purpose of providing services which benefit individual properties are not taxes for the general benefit of the governmental entity, but are assessments for services which confer special benefits upon the properties to which the services are provided. (Added by renumbering Section 54702 by Stats. 1984, Ch. 144, Sec. 150.)
  181. 54703.3.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 1. General Provisions [54703 - 54703.5] ( Article 1 added by Stats. 1982, Ch. 487, Sec. 3. )

    Verify source ↗

    This chapter is intended to replace earlier laws on benefit assessments and create a uniform procedure for local jurisdictions to enact them.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 1. General Provisions [54703 - 54703.5] ( Article 1 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54703.3. The purpose of this chapter is to recodify and supplant previously enacted provisions of law which authorize the imposition of benefit assessments and to provide a uniform procedure for the enactment of benefit assessments for services by local jurisdictions. (Added by renumbering Section 54703 by Stats. 1984, Ch. 144, Sec. 151.)
  182. 54703.5.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 1. General Provisions [54703 - 54703.5] ( Article 1 added by Stats. 1982, Ch. 487, Sec. 3. )

    Verify source ↗

    An assessment levied under this chapter is not subject to the Special Assessment Investigation, Limitation and Majority Protest Act of 1931.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 1. General Provisions [54703 - 54703.5] ( Article 1 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54703.5. An assessment levied pursuant to this chapter is not subject to the Special Assessment Investigation, Limitation and Majority Protest Act of 1931 (Division 4 (commencing with Section 2800) of the Streets and Highways Code). (Added by Stats. 1989, Ch. 1449, Sec. 1.)
  183. 54705.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 2. Definitions [54705 - 54708] ( Article 2 added by Stats. 1982, Ch. 487, Sec. 3. )

    Verify source ↗

    This section defines “local agency” for this chapter.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 2. Definitions [54705 - 54708] ( Article 2 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54705. As used in this chapter, “local agency” means any city, county, city and county, special district, or any other municipal corporation or district. (Added by Stats. 1982, Ch. 487, Sec. 3. Effective July 10, 1982.)
  184. 54706.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 2. Definitions [54705 - 54708] ( Article 2 added by Stats. 1982, Ch. 487, Sec. 3. )

    Verify source ↗

    This section defines “legislative body” for this chapter.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 2. Definitions [54705 - 54708] ( Article 2 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54706. As used in this chapter, “legislative body” means the city council or board of trustees in the case of a city, the board of supervisors in the case of a county or a city and county, or the board of directors, trustees, or governors or other governing body in the case of a special district or any other municipal or public corporation or district. (Added by Stats. 1982, Ch. 487, Sec. 3. Effective July 10, 1982.)
  185. 54708.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 2. Definitions [54705 - 54708] ( Article 2 added by Stats. 1982, Ch. 487, Sec. 3. )

    Verify source ↗

    In this chapter, “service” includes the cost of maintaining any facility used to provide a service.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 2. Definitions [54705 - 54708] ( Article 2 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54708. As used in this chapter, “service” includes the cost of maintaining any facility used to provide any service. (Added by Stats. 1989, Ch. 1449, Sec. 2.)
  186. 54710.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 3. Authorization: Requisites for Assessment [54710 - 54712] ( Article 3 added by Stats. 1982, Ch. 487, Sec. 3. )

    Verify source ↗

    A local agency may impose a benefit assessment to fund maintenance and operation costs for certain services, or to pay for maintenance of streets, roads, or highways, if it is authorized by law to do so.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 3. Authorization: Requisites for Assessment [54710 - 54712] ( Article 3 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54710. (a) Any local agency which is authorized by law to provide one or more of the following services may impose a benefit assessment pursuant to this chapter to finance the maintenance and operation costs of these services: (1) Drainage. (2) Flood control. (3) Street lighting. (b) Any local agency which is authorized by law to maintain streets, roads, or highways may impose a benefit assessment pursuant to this chapter to pay for the maintenance of those streets, roads, or highways. (Amended by Stats. 1989, Ch. 1449, Sec. 3.)
  187. 54710.3.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 3. Authorization: Requisites for Assessment [54710 - 54712] ( Article 3 added by Stats. 1982, Ch. 487, Sec. 3. )

    Verify source ↗

    A local agency that commits to advance funds to cover a bond redemption fund deficiency may impose a benefit assessment, but only within stated limits.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 3. Authorization: Requisites for Assessment [54710 - 54712] ( Article 3 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54710.3. Any local agency which obligates itself to advance available funds to cure a bond redemption fund deficiency pursuant to subdivision (a) of Section 8769 of the Streets and Highways Code may impose a benefit assessment pursuant to this chapter in order to satisfy the obligation or in anticipation of having to satisfy the obligation, except that the assessment shall not exceed thirty dollars ($30) per parcel per year, shall be actually levied and collected in any year only if needed because of a bond redemption fund deficiency, and shall only be used to cure redemption fund deficiencies with respect to assessment districts, the area of which is at least 60 percent developed. (Added by Stats. 1990, Ch. 446, Sec. 1.5.)
  188. 54710.5.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 3. Authorization: Requisites for Assessment [54710 - 54712] ( Article 3 added by Stats. 1982, Ch. 487, Sec. 3. )

    Verify source ↗

    A local agency that is legally authorized to provide drainage or flood control services may impose an assessment to pay for installing or improving facilities, in addition to the benefit assessment allowed by Section 54710.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 3. Authorization: Requisites for Assessment [54710 - 54712] ( Article 3 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54710.5. Any local agency which is authorized by law to provide drainage services or flood control services may, in addition to imposing a benefit assessment for the purposes authorized pursuant to Section 54710, impose such an assessment to finance the cost of installation and improvement of facilities. (Added by Stats. 1982, Ch. 487, Sec. 3. Effective July 10, 1982.)
  189. 54711.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 3. Authorization: Requisites for Assessment [54710 - 54712] ( Article 3 added by Stats. 1982, Ch. 487, Sec. 3. )

    Verify source ↗

    Benefit assessments must meet stated benefit and cost limits, and a maintenance district may use this assessment only as an alternative to a property tax for street lighting services.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 3. Authorization: Requisites for Assessment [54710 - 54712] ( Article 3 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54711. (a) No benefit assessment shall be levied pursuant to this chapter unless it meets all of the following requirements: (1) The amount of the assessment imposed on any parcel of property shall be related to the benefit to the parcel which will be derived from the provision of the service. Except as provided in subdivision (d) or (e) of Section 54715, in the case of a benefit assessment for flood control services, the benefit may be determined on the basis of the proportionate storm water runoff from each parcel. In the case of an assessment for the maintenance of streets, roads, or highways, the benefit may be in proportion to the estimated traffic volume to be generated by each parcel assessed, or any other reasonable basis as determined by the legislative body. In the case of an assessment to cure bond fund deficiencies pursuant to Section 54710.3, all parcels subject to the assessment may be assumed to benefit equally from the jurisdiction’s improved ability to finance special benefit projects through assessments at lower cost, due to the added security provided by the assessment levied pursuant to this chapter. (2) The annual aggregate amount of the assessment shall not exceed the estimated annual cost of providing the service, except that the legislative body may, by resolution, determine that the estimated cost of work authorized pursuant to subdivision (b) of Section 54710 is greater than can be conveniently raised from a single annual assessment and order that the estimated cost shall be raised by an assessment levied and collected in installments over a period not to exceed five fiscal years. (3) The revenue derived from the assessment shall not be used to pay the cost of any service other than the service for which the assessment was levied. (b) This section does not limit or prohibit the levy or collection of any other fee, charge, or tax for the provision of services, except that a maintenance district formed pursuant to Chapter 7 (commencing with Section 1550) of Division 2 of the Streets and Highways Code may impose an assessment pursuant to this chapter only as an alternative to imposing a property tax for the provision of street lighting services. (Amended by Stats. 1991, Ch. 966, Sec. 1.)
  190. 54712.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 3. Authorization: Requisites for Assessment [54710 - 54712] ( Article 3 added by Stats. 1982, Ch. 487, Sec. 3. )

    Verify source ↗

    A local agency that levies a benefit assessment may sue to test the assessment’s validity for 60 days after adoption.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 3. Authorization: Requisites for Assessment [54710 - 54712] ( Article 3 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54712. Any local agency levying a benefit assessment pursuant to this chapter may bring an action to determine the validity of the assessment pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure upon adoption of the assessment and for 60 days thereafter. If the agency does not bring its own action under Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure, then Sections 863 and 869 of the Code of Civil Procedure shall not apply. (Added by Stats. 2012, Ch. 330, Sec. 13. (SB 1090) Effective January 1, 2013.)
  191. 54715.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 4. Procedure for Imposition of Benefit Assessment [54715 - 54719] ( Article 4 added by Stats. 1982, Ch. 487, Sec. 3. )

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    A local agency’s legislative body may propose an annual benefit assessment by ordinance or resolution after notice and a public hearing, but it cannot impose that assessment on federal, state, or other local agencies.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 4. Procedure for Imposition of Benefit Assessment [54715 - 54719] ( Article 4 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54715. (a) The legislative body of a local agency may by ordinance or resolution, adopted after notice and public hearing, determine and propose for adoption an annual assessment on each parcel of real property within the jurisdiction of the local agency, except that the governing body shall not impose an assessment upon a federal or state governmental agency or another local agency. (b) The legislative body may establish zones or areas of benefit within the local agency and may restrict the imposition of the assessment to areas lying within one or more of the zones or areas of benefit established within the local agency. (c) The benefit assessment shall be levied on a parcel, class of improvement to property, or use of property basis, or a combination thereof, within the boundaries of the local agency, zone, or area of benefit. Except as provided in subdivision (d) or (e), in the case of a benefit assessment for flood control services, the benefit assessment may be levied on the basis of proportionate storm water runoff from each parcel. In the case of an assessment levied pursuant to Section 54710.3, the assessment may be levied at a uniform rate per parcel. The assessment may be levied against any parcel, improvement, or use of property to which such services may be made available, whether or not such service is actually used. (d) Whenever a railroad, gas, water, telephone, cable television, electric utility right-of-way, electric line right-of-way, or other utility right-of-way is included within an area proposed to be assessed, the railroad, gas, water, telephone, cable television, electric utility right-of-way, electric line right-of-way, or other utility right-of-way shall be subject to the assessment only if, and to the extent that, it is found that it will benefit from the service, and the railroad, gas, water, telephone, cable television, electric utility right-of-way, electric line right-of-way, or other utility right-of-way shall be subject to the same penalties, and the same procedure and sale, in the event of delinquencies, as other parcels in the assessment area. In determining whether or not the railroad, gas, water, telephone, cable television, electric utility right-of-way, electric line right-of-way, or other utility right-of-way benefits from the services provided, its use as a right-of-way for a railroad, gas, water, telephone, cable television, electric, or other utility shall be presumed to be permanent. (e) Proportionate storm water runoff may be used as a measure of benefit on an undeveloped parcel of land pursuant to this section only if, and to the extent that, it is found that it will benefit from the service. For the purposes of this section, an undeveloped parcel of land means a parcel of rural land in its undeveloped natural state, although the land may be grazed, if otherwise undisturbed, in a manner consistent with the normally accepted grazing land management practices for that geographic area. An undeveloped parcel of land also includes wetlands and marshlands if undisturbed and subject to periodic inundation. For purposes of this section, rural land is land which is outside of an urbanized area, as designated by the most recent federal decennial census of the United States Bureau of the Census. (Amended by Stats. 1990, Ch. 446, Sec. 3.)
  192. 54716.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 4. Procedure for Imposition of Benefit Assessment [54715 - 54719] ( Article 4 added by Stats. 1982, Ch. 487, Sec. 3. )

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    Before a benefit assessment is first imposed, the legislative body must prepare and file a written report, and the clerk must publish and post notice of the report and hearing.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 4. Procedure for Imposition of Benefit Assessment [54715 - 54719] ( Article 4 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54716. (a) For the first fiscal year in which a benefit assessment is proposed to be imposed pursuant to this chapter, the legislative body shall cause a written report to be prepared and filed with the clerk of the local agency which shall contain all of the following information: (1) A description of the service proposed to be financed through the revenue derived from the assessment. (2) A description of each lot or parcel of property proposed to be subject to the benefit assessment. The assessor’s parcel number shall be a sufficient description of the parcel. The area proposed to be subject to the benefit assessment may be less than the entire area of the local agency. (3) The amount of the proposed assessment for each parcel. In the case of an assessment to be collected in installments pursuant to paragraph (2) of subdivision (a) of Section 54711, the report shall set forth the number of annual installments and the fiscal years during which they are to be collected, and fix the maximum amount of each annual installment. (4) The basis and schedule of the assessment. (5) In the case of an assessment levied pursuant to Section 54710.3, an identification of the assessment districts for which the local agency has assumed responsibility for redemption fund deficiencies and for which it proposes to rely on assessments levied pursuant to this chapter, and a statement of the conditions under which the assessment will actually be levied and collected in any year. (b) The clerk shall cause notice of the filing of the report and of a time, date, and place of hearing thereon to be published pursuant to Section 6066 and posted in at least three public places within the jurisdiction of the local agency. (c) With respect to any new or increased assessment proposed to be levied pursuant to subdivision (b) of Section 54710 or Section 54710.3, the legislative body of the local agency shall comply with the notice, hearing, and protest procedures in Section 53753. (d) At the hearing, the legislative body shall hear and consider all protests. At the conclusion of the hearing, the legislative body may adopt, revise, change, reduce, or modify the proposed assessment. The legislative body shall make a determination upon the assessment as described in the report or as determined at the hearing, and shall, by ordinance or resolution, determine the proposed assessment. (Amended by Stats. 2000, Ch. 262, Sec. 28. Effective January 1, 2001.)
  193. 54718.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 4. Procedure for Imposition of Benefit Assessment [54715 - 54719] ( Article 4 added by Stats. 1982, Ch. 487, Sec. 3. )

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    The legislative body may arrange collection of an assessment, and the county may deduct reasonable collection costs if it collects the assessment.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 4. Procedure for Imposition of Benefit Assessment [54715 - 54719] ( Article 4 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54718. (a) The legislative body may provide for the collection of the assessment or any installment of an assessment, in the same manner, and subject to the same penalties and priority of lien as, other charges and taxes fixed and collected by, or on behalf of the local agency, except that if, for the first year the assessment is levied the real property on which the assessment is levied has been transferred or conveyed to a bona fide purchaser for value, or if a lien of a bona fide encumbrancer for value has been created and attaches thereon, prior to the date on which the first installment of county taxes would become delinquent, the confirmed assessment shall not result in a lien against the real property but shall be transferred to the unsecured roll. (b) If the assessments are collected by the county, the county may deduct its reasonable costs incurred for the service before remittal of the balance to the local agency’s treasury. (c) In the case of an assessment levied pursuant to Section 54710.3, the legislative body shall provide for the collection of the assessment in any year only if the legislative body determines that the levy is necessary because of a redemption fund deficiency. (Amended by Stats. 1991, Ch. 966, Sec. 3.)
  194. 54719.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 4. Procedure for Imposition of Benefit Assessment [54715 - 54719] ( Article 4 added by Stats. 1982, Ch. 487, Sec. 3. )

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    If annual installment assessments are authorized, the legislative body may create a fund, make a temporary advance from available unencumbered local agency funds and set repayment from installments, or borrow money for maintenance work, subject to a cap.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 4. Procedure for Imposition of Benefit Assessment [54715 - 54719] ( Article 4 added by Stats. 1982, Ch. 487, Sec. 3. ) ## 54719. If assessments to be collected through annual installment payments have been authorized pursuant to this chapter, the legislative body may do one or more of the following: (a) Provide for the accumulation of the money collected from the annual installments in a fund until there is sufficient money to pay all or part of the cost of the maintenance work for which the installment assessments were authorized. (b) Provide for a temporary advance to the improvement fund from any available and unencumbered funds of the local agency to pay all or part of the cost of the maintenance work for which the installment assessments were authorized and direct that the advance be repaid from the annual installments levied and collected during the fiscal years designated. (c) Borrow an amount necessary to finance the estimated cost of the maintenance work for which the installment assessments were authorized. The amount borrowed and associated financing costs shall not exceed the amount of revenue estimated to be raised from the annual assessments levied over the designated five fiscal years. (Added by Stats. 1991, Ch. 966, Sec. 4.)
  195. 54720.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 5. Special Benefit Assessments [54720- 54720.] ( Article 5 added by Stats. 1992, Ch. 248, Sec. 1. )

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    The Redding city council may create the Redding Midtown Mall Project No. 1 as an area of benefit and levy a benefit assessment after notice and a public hearing, if landowners approve it by a simple majority of the mall’s parcel square footage.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.4. Benefit Assessment Act of 1982 [54703 - 54720] ( Heading of Chapter 6.4 renumbered from Chapter 6.1 by Stats. 1984, Ch. 144, Sec. 147. ) ## ARTICLE 5. Special Benefit Assessments [54720- 54720.] ( Article 5 added by Stats. 1992, Ch. 248, Sec. 1. ) ## 54720. The city council of the City of Redding may by ordinance or resolution adopted after notice and public hearing pursuant to Article 4 (commencing with Section 54715) establish the Redding Midtown Mall Project No. 1 as an area of benefit and levy a benefit assessment for the operation and maintenance of the Redding Midtown Mall Project No. 1 to be effective upon the approval by vote of landowners whose ownership represents a simple majority of the square footage of the parcel size within the mall. In all other respects, the imposition and collection of the benefit assessment shall comply with this chapter. (Added by Stats. 1992, Ch. 248, Sec. 1. Effective January 1, 1993.)
  196. 54725.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.5. Contracts of Sanitation or Sewerage Enterprises [54725 - 54740.6] ( Chapter 6.5 added by Stats. 1970, Ch. 1249. )

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    This section defines “local agency” for this chapter.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.5. Contracts of Sanitation or Sewerage Enterprises [54725 - 54740.6] ( Chapter 6.5 added by Stats. 1970, Ch. 1249. ) ## 54725. As used in this chapter, local agency means any city, county, municipal utility district, public utility district, sanitary district, county sanitation district, or any municipal or public corporation or district authorized to acquire, construct, own, or operate a sanitation system, a sewer system, or both. (Amended by Stats. 1991, Ch. 1191, Sec. 1.)
  197. 54726.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.5. Contracts of Sanitation or Sewerage Enterprises [54725 - 54740.6] ( Chapter 6.5 added by Stats. 1970, Ch. 1249. )

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    In this chapter, “law” includes the charter of any local agency.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.5. Contracts of Sanitation or Sewerage Enterprises [54725 - 54740.6] ( Chapter 6.5 added by Stats. 1970, Ch. 1249. ) ## 54726. As used in this chapter, “law” includes the charter of any local agency. (Added by Stats. 1970, Ch. 1249.)
  198. 54727.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.5. Contracts of Sanitation or Sewerage Enterprises [54725 - 54740.6] ( Chapter 6.5 added by Stats. 1970, Ch. 1249. )

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    This section defines “enterprise” for this chapter.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.5. Contracts of Sanitation or Sewerage Enterprises [54725 - 54740.6] ( Chapter 6.5 added by Stats. 1970, Ch. 1249. ) ## 54727. As used in this chapter, “enterprise” means systems, plants, works, or undertakings used or useful in the collection, treatment, and disposal of waste, refuse, and garbage, or of sewage, waste, and storm water. It includes all parts of any such enterprise and all appurtenances to it, and lands, easements, rights in land, contract rights, franchises, approaches, dams, garbage trucks, equipment, dumps, garbage disposal plants and incinerators or other disposal facilities, sewage treatment plants, sewage disposal plants, intercepting and collecting sewers, outfall sewers, trunk connecting, and other sewer, waste, and storm water mains. (Added by Stats. 1970, Ch. 1249.)
  199. 54728.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.5. Contracts of Sanitation or Sewerage Enterprises [54725 - 54740.6] ( Chapter 6.5 added by Stats. 1970, Ch. 1249. )

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    This chapter defines “improve” to include reconstructing, replacing, extending, repairing, bettering, equipping, developing, embellishing, or otherwise improving.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.5. Contracts of Sanitation or Sewerage Enterprises [54725 - 54740.6] ( Chapter 6.5 added by Stats. 1970, Ch. 1249. ) ## 54728. As used in this chapter, “improve” means reconstruct, replace, extend, repair, better, equip, develop, embellish, or otherwise improve. (Added by Stats. 1970, Ch. 1249.)
  200. 54729.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.5. Contracts of Sanitation or Sewerage Enterprises [54725 - 54740.6] ( Chapter 6.5 added by Stats. 1970, Ch. 1249. )

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    In this chapter, “bonds” means bonds issued by a local agency and payable only from the enterprise’s revenues.

    ## Government Code - GOV ## TITLE 5. LOCAL AGENCIES [50001 - 57607] ( Title 5 added by Stats. 1949, Ch. 81. ) ## DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 55821] ( Division 2 added by Stats. 1949, Ch. 81. ) ## PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000 - 54999.7] ( Part 1 added by Stats. 1949, Ch. 81. ) ## CHAPTER 6.5. Contracts of Sanitation or Sewerage Enterprises [54725 - 54740.6] ( Chapter 6.5 added by Stats. 1970, Ch. 1249. ) ## 54729. As used in this chapter, “bonds” means bonds issued by a local agency payable exclusively from the revenues of the enterprise for which the bonds are issued. (Added by Stats. 1970, Ch. 1249.)

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