reglab/statecodes huggingface dataset:
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54430.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54431.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54432.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54435.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54460.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54461.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54462.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54463.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54464.

54464. The legislative body may provide for the use and disposition of insurance money.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54465.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54466.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54467.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54468.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54469.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54470.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54471.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54472.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54473.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54474.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54475.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54476.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54477.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 5 - Additional Powers to Secure Bonds › Section 54478.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54510.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54511.

54511. Such performance is of the essence of the local agency’s contract with the bondholders.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54512.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54513.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54514.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54515.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54516.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54516.1.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54516.2.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54516.3.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54517.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54518.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54519.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54520.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54521.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54522.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54523.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 6 - Duties of Local Agencies › Section 54524.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 7 - Fiscal Agent › Section 54550.

54550. In connection with the issuance of bonds a local agency may appoint a fiscal agent.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 7 - Fiscal Agent › Section 54551.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 7 - Fiscal Agent › Section 54552.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 8 - Validating Proceedings › Section 54580.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 9 - Contributions › Section 54610.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 9 - Contributions › Section 54611.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 9 - Contributions › Section 54612.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 9 - Contributions › Section 54613.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 9 - Contributions › Section 54614.

54614. The contributions may consist of money, rights of way, labor, materials, and other property.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 9 - Contributions › Section 54615.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 10 - Remedies of Bondholders › Section 54640.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 10 - Remedies of Bondholders › Section 54641.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 10 - Remedies of Bondholders › Section 54642.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 10 - Remedies of Bondholders › Section 54643.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 10 - Remedies of Bondholders › Section 54644.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 10 - Remedies of Bondholders › Section 54645.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 10 - Remedies of Bondholders › Section 54646.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 10 - Remedies of Bondholders › Section 54647.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 10 - Remedies of Bondholders › Section 54648.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 10 - Remedies of Bondholders › Section 54649.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 11 - Refunding Bonds › Section 54660.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 11 - Refunding Bonds › Section 54661.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 11 - Refunding Bonds › Section 54662.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 11.5 - Revenue Bond Anticipation Notes › Section 54664.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 11.5 - Revenue Bond Anticipation Notes › Section 54665.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 11.5 - Revenue Bond Anticipation Notes › Section 54666.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 11.5 - Revenue Bond Anticipation Notes › Section 54667.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 12 - Annexation and Exclusion › Section 54670.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 12 - Annexation and Exclusion › Section 54671.

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.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 12 - Annexation and Exclusion › Section 54672.

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.)