reglab/statecodes huggingface dataset:
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43617.

43617. The legislative body shall prescribe the form of the bonds and interest coupons, and fix the date of the bonds.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43618.

43618. The legislative body may divide the principal amount of any issue into two or more series and fix different dates for the bonds of each series. The bonds of one series may be made payable at different times from those of any other series. The maturity of each series shall comply with this article.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43619.

43619. The legislative body shall fix, and designate in the bonds, a time and place for payment of the bonds. Except as provided in Section 43620 of the code, not less than one-fortieth of the principal amount of each issue or series of bonds with interest on all sums unpaid shall be paid every year.
(Amended by Stats. 1951, Ch. 1403.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43620.

43620. The legislative body may fix a date, not more than two years from the date of issuance, for the earliest maturity of each issue or series of bonds and in the case of bonds issued for the acquisition, construction, or completion of revenue-producing public works may fix a date not more than 10 years from the date of issuance for the earliest maturity of each issue or series of bonds. Beginning with the date of the earliest maturity of each issue or series, not less than one-fortieth of the indebtedness of such issue or series shall be paid every year; provided, however, the bonds of any issue or series irrespective of the purpose for which the same are to be issued may be made to mature and become payable in approximately equal total annual installments of interest and principal, during the term of the bonds computed from the first year in which any part of the principal shall mature to the date of final maturity which annual installments may vary one from the other in amounts not exceeding in any year more than 5 percent of the total principal amount of the bonds of such issue or of the series thereof then proposed to be issued. The final maturity date shall not exceed 40 years from the time of incurring the indebtedness evidenced by each issue or series.
(Amended by Stats. 1957, Ch. 844.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43620.1.

43620.1. An action to determine the validity of bonds may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure.
(Amended by Stats. 1961, Ch. 1548.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43621.

43621. The legislative body may provide for redemption of bonds before maturity at prices determined by it. A bond shall not be subject to call or redemption prior to maturity unless it contains a recital to that effect.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43623.

43623. The bonds shall be signed by the mayor, or such other officer as the legislative body authorizes by resolution adopted by a two-thirds vote of all its members, and the city treasurer. They shall be countersigned by the clerk or a deputy clerk.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43625.

43625. All signatures and countersignatures except that of the clerk or the clerk’s deputy may be printed, lithographed, or engraved.
(Amended by Stats. 2018, Ch. 467, Sec. 57. (SB 1498) Effective January 1, 2019.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43626.

43626. If any officer whose signature or countersignature appears on bonds or coupons ceases to be an officer before delivery of the bonds, that officer’s signature is as effective as if the officer had remained in office.
(Amended by Stats. 2018, Ch. 467, Sec. 58. (SB 1498) Effective January 1, 2019.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43627.

43627. The bonds may be issued and sold as the legislative body determines, but for not less than par. Before selling the bonds, or any part thereof, the legislative body shall give notice inviting sealed bids in such manner as the legislative body may prescribe. If satisfactory bids are received, the bonds offered for sale shall be awarded to the highest responsible bidder. If no bids are received, or if the legislative body determines that the bids received are not satisfactory as to price or responsibility of the bidders, the legislative body may reject all bids received, if any, and either readvertise or sell the bonds at private sale.
(Amended by Stats. 1951, Ch. 1568.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43628.

43628. All premiums and accrued interest received shall be placed in the fund to be used for the payment of principal of and interest on the bonds, and the remainder of the proceeds of the bonds shall be placed in the treasury to the credit of the proper improvement fund and applied exclusively to the purpose and object recited in the ordinance; provided, however, that when said purpose and object has been accomplished any moneys remaining in such improvement fund shall be transferred to the fund to be used for the payment of principal of and interest on the bonds. Further, when such purpose and object have been accomplished and all principal and interest on the bonds have been paid, any balance of money then remaining shall be transferred to the general fund.
(Amended by Stats. 1951, Ch. 1568.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43629.

43629. The legislative body may provide for delivery of any bonds at places outside the city or State, and for receipt and transmittal of the purchase price in cash or bank credits in the form of certified Federal Reserve bank funds.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43630.

43630. After three years after a bond election the legislative body may determine, by ordinance adopted by a two-thirds vote of all of its members, that no part of the bond issue remaining unsold shall be issued or sold. When the ordinance takes effect, the bonds remaining unsold and described in the ordinance become void.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43631.

43631. When the legislative body determines by resolution that the expenditure of money raised by the sale of bonds for the purpose for which the bonds were voted is impracticable or unwise, it may call a special election to obtain the consent of the electors to use the money for some other specified municipal purpose.
The procedure shall be the same as when the bond proposition was originally submitted.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43632.

43632. At the time of making the general tax levy after incurring the bonded indebtedness, and annually thereafter until the bonds are paid or until there is a sum in the treasury set apart for that purpose sufficient to meet all payments of principal and interest on the bonds as they become due, the legislative body shall levy and collect a tax sufficient to pay the interest on the bonds and such part of the principal as will become due before the proceeds of a tax levied at the next general tax levy will be available.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43633.

43633. If the earliest maturity of the bonds is more than one year after the date of issuance, the legislative body shall levy and collect annually a tax sufficient to pay the interest as it falls due and to constitute a sinking fund for payment of the principal on or before maturity.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43634.

43634. These taxes shall be levied and collected as other city taxes, and in addition to all other taxes. They shall be used only for payment of the bonds and interest.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43635.

43635. A city may undertake to perform the work directly on any municipal improvement for which bonds are issued pursuant to this article, purchasing the materials and hiring the labor without following the ordinary procedure in awarding contracts.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43636.

43636. When the city and the United States jointly perform work on such municipal improvements, the city may turn over its portion of the cost to the United States for expenditure by it.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43637.

43637. By resolution, the legislative body may require the treasurer to give additional bonds for the safe custody and care of the public funds.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 1 - General › Section 43638.

43638. When municipal improvements are being made pursuant to this article, the legislative body shall make all necessary regulations for carrying out and maintaining the improvements and appoint all necessary agents to look after the construction and operation of improvements.
The board of public works shall perform these duties in cities having freeholders’ charters providing for such a board.
The legislative body may contract with a specially qualified person, firm or corporation to act as fiscal agent. Such contracts may authorize the fiscal agent to act as agent for any city officer or employee in the performance of any duty required to be performed, or in taking any action authorized to be taken in connection with bonds issued pursuant to this chapter.
(Amended by Stats. 1957, Ch. 1363.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43720.

43720. The legislative body of any city, except a city and county, may provide for the funding or refunding of outstanding indebtedness pursuant to this article, if either of the following conditions exist:
(a) The city has an outstanding indebtedness evidenced by bonds, warrants, notes or other evidences of indebtedness, or a judgment.
(b) Any department, board, or special fund of the city has an outstanding indebtedness evidenced by bonds, warrants, or notes or other evidences of indebtedness, and such indebtedness has been created for a purpose for which bonds of the city could have been lawfully authorized and issued.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43721.

43721. By a two-thirds vote of its number, the legislative body may fund or refund the indebtedness at, after, or before maturity and issue bonds of the city for the indebtedness.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43722.

43722. The bonds shall be issued in denominations of not less than one hundred dollars ($100) nor more than one thousand dollars ($1,000) each, have not more than 40 years to run, and bear a rate of interest not to exceed 8 percent a year, payable semiannually.
(Amended by Stats. 1975, Ch. 130.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43723.

43723. The rate of interest during the entire term of the bonds need not be the same but different rates may be fixed for one or more interest payments.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43724.

43724. The bonds shall be serial bonds, and not less than one-fortieth of the principal and interest on all sums unpaid shall be paid each year.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43725.

43725. The legislative body may fix a date for the earliest maturity of the principal of the bonds, not more than three years from the date of the issue.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43726.

43726. The bonds shall be payable in such money and at such places as the legislative body designates in the bonds.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43727.

43727. The bonds may be sold in the manner provided by the legislative body, to the highest bidder, at such price that the interest rate paid by the city, computed on the sale price, will not exceed 8 percent a year, or may be exchanged for the outstanding evidences of indebtedness pursuant to this article.
(Amended by Stats. 1975, Ch. 130.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43728.

43728. The proceeds of any sale for cash shall be placed in the city treasury to the credit of the funding fund, and applied only to refunding the indebtedness for which the bonds are issued.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43729.

43729. Any proceeds of the refunding bonds remaining after the indebtedness has been paid shall be deposited in the fund established for the payment of principal and interest on the refunding bonds and used only for the purpose of paying such principal or interest as it matures.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43730.

43730. At the time of making the general tax levy after incurring the bonded indebtedness and annually thereafter until the bonds are paid or until there is a sum in the treasury set apart for that purpose sufficient to meet all payments of principal and interest on the bonds as they become due, the legislative body shall levy and collect a tax sufficient to pay the interest on the bonds and such part of the principal as will become due before the proceeds of the next general tax levy will be available.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43731.

43731. If the earliest maturity of the refunding bonds is more than one year after the date of issuance, the legislative body shall levy and collect annually a tax sufficient to pay the interest as it falls due and to constitute a sinking fund for payment of the principal on or before maturity.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43732.

43732. The taxes shall be levied and collected as other city taxes, and are in addition to all other taxes. They shall be used only for the payment of the bonds and interest.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43732.5.

43732.5. (a) Prior to the issuance by a city of bonds pursuant to this chapter, the legislative body may elect, by resolution, to guarantee payment on outstanding bonds of the city issued pursuant to this chapter in accordance with the following:
(1) A city that elects to participate under this section shall provide notice to the Controller of that election, which notice shall include a schedule for the repayment of principal and interest on the bonds, and identify a bond trustee appointed by the city for the purposes of this section.
(2) In the event that, for any reason, the amount of tax revenues made available pursuant to this article for the payment of principal and interest of the bonds will not be sufficient for that purpose at the time payment on principal, interest, or both, is required as to any one or more of those bonds, the city shall so notify the bond trustee. The bond trustee shall immediately communicate that information to the affected bondholder or bondholders and to the Controller.
(3) When the Controller receives notice from the trustee as described in paragraph (2), or the amount of tax revenues made available pursuant to this article for the payment of principal and interest of the bonds is not sufficient for that purpose at the time payment on principal, interest, or both, is required as to any one or more of those bonds, the Controller shall make an apportionment to the bond trustee in the amount of that required payment for the purpose of making that payment. The Controller shall make that payment only from moneys credited to the Motor Vehicle License Fee Account in the Transportation Tax Fund to which that city is entitled at that time under Chapter 5 (commencing with Section 11001) of Part 5 of Division 2 of the Revenue and Taxation Code, and shall thereupon reduce, by the amount of the payment, the subsequent allocation or allocations to which the county would otherwise be entitled under that chapter.
(4) A city shall be entitled to reimbursement, from tax revenues collected pursuant to this article, in an amount equal to the amount by which its allocation or allocations under Chapter 5 (commencing with Section 11001) of Part 5 of Division 2 of the Revenue and Taxation Code are reduced pursuant to subdivision (c).
(b) This section shall not be construed to obligate the State of California to make any payment to a city from the Motor Vehicle License Fee Account in the Transportation Tax Fund in any amount or pursuant to any particular allocation formula, or to make any other payment to a city, including, but not limited to, any payment in satisfaction of any debt or liability incurred or guaranteed by a city in accordance with this section.
(Added by Stats. 1990, Ch. 1177, Sec. 4. Effective September 24, 1990.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43733.

43733. Bonds to fund or refund the indebtedness shall not be issued unless authorized by the electors of the city voting at an election to be called and held for that purpose, in either of the following cases:
(a) When the indebtedness is evidenced by warrants or by judgment obtained for indebtedness or liability incurred by the city exceeding the income and revenue provided for the year in which the indebtedness or liability was incurred.
(b) When the indebtedness is that of any department, board, or special fund of the city, and has been incurred without submission of the proposition of incurring the indebtedness to the city electors, and without the assent of two-thirds of the electors voting at an election held for that purpose.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43735.

43735. The ordinance calling the election shall recite the object and purposes for which the bonded indebtedness is to be incurred.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43736.

43736. When it is proposed to refund any outstanding bonded indebtedness of a city upon terms which permit any number of the refunding bonds to mature more than forty years from the time the original indebtedness was incurred, the proposition of refunding the indebtedness shall be submitted to the electors of the city at an election held for that purpose, and the assent of two-thirds of the electors voting at such election is necessary to authorize the issuance of the refunding bonds. The election shall be called and held in the manner of other elections under this article.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43737.

43737. The proceeds from the sale of the bonds shall be applied by the treasurer to the satisfaction of the judgment or the refunding of the indebtedness for which the bonds were issued, or the bonds may be exchanged at their par value for the evidences of indebtedness to be refunded, at their par value.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43738.

43738. If the refunding bonds are issued in whole or in part to refund before maturity an indebtedness evidenced by bonds, notes, or other evidences of indebtedness, which according to their terms are subject to call or payment before maturity at a price in excess of par, the refunding bonds may be exchanged at not less than their par value for such other bonds, notes, or evidences at the price specified therein for payment before maturity, subject to adjustment of accrued interest to the date of exchange.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43740.

43740. When sufficient money is in the funding fund to redeem one or more outstanding past due bonds, warrants, judgments, notes, or other evidences of indebtedness or to redeem one or more of the outstanding bonds, warrants, notes, or other evidences of indebtedness which are subject to call or payment before maturity, and which are proposed to be funded or refunded, the treasurer shall publish a notice that he is prepared to pay the bond, warrant, judgment, note, or other evidence of indebtedness (giving its number, if any). The notice shall be published once a week for two weeks in a newspaper of general circulation published in the city, if there is one. If the bond, warrant, judgment, note, or other evidence of indebtedness is not presented for redemption within thirty days after the first publication of the notice, the interest upon it ceases.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43741.

43741. At the same time the treasurer shall deposit in the post office a copy of the notice, enclosed in a sealed envelope, postage prepaid, addressed to the registered owner of any such bond, warrant, judgment, note or other evidence of indebtedness, registered pursuant to law, whose address appears upon the record in the treasurer’s office. If the bond, warrant, judgment, note, or other evidence of indebtedness is not presented within the time specified in the notice, the interest upon it ceases, and the amount due shall be set aside for the payment when it is presented.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43742.

43742. If any bonds are authorized for funding or refunding before maturity any obligations which by their terms are subject to call and payment before maturity, and which specify the manner in which they shall be called and paid, the call and payment of such obligations shall be in the specified manner.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43743.

43743. When any outstanding bonds, warrants, judgments, notes, or other evidences of indebtedness are surrendered and paid, the treasurer shall cancel them by endorsing on their faces the amount for which they are received, “canceled,” and the date of cancellation.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43744.

43744. The treasurer shall keep a record of bonds, warrants, judgments, notes, or other evidences of indebtedness redeemed, and report the redemptions to the city legislative body.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43745.

43745. If the obligations were issued by, on account of, or against, any department, board, or special fund of the city, he shall make the report to such department, board, or officer having custody of the special fund.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43746.

43746. The report shall be made at least once a month, and shall be accompanied by the bonds, warrants, judgments, or other evidences of indebtedness which have been taken up and canceled.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 3 - Refunding Indebtedness › Section 43747.

43747. Any money remaining in the funding fund, after all outstanding bonds, warrants, judgments, notes, or other evidences of indebtedness proposed to be refunded have been taken up and canceled, shall be deposited in the fund established for the payment of principal and interest on the refunding bonds and used only for paying such principal or interest as they mature.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43761.

43761. Whenever the public interest or necessity requires, any city may incur a bonded indebtedness to acquire bonds:
(a) Issued by the city.
(b) Issued by or for any district in the city.
(c) Issued for street work or other public improvements in the city under any law providing for the performance of street work or other public improvements or the issuance of bonds to represent or be secured by assessments levied for such work or improvements, including bonds issued under the Improvement Bond Act of 1915 and the Acquisition and Improvement Act of 1925.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43762.

43762. It is the intent of the Legislature in adopting this article that the acquisition of such bonds or investments of the general improvement fund shall be for any or all of the following purposes:
(a) Aiding or facilitating the making of needed public improvements in the city.
(b) Limiting or preventing such increasing of district taxes or assessments as may impair the general tax revenues of the city from any district.
(c) Providing means to reduce district indebtedness or assessments represented by or securing bonds.
(d) Obtaining collection of delinquent city taxes.
(e) Restoring property to the tax rolls in order that city taxes may be collected on such property.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43763.

43763. Bonds issued pursuant to this article shall be issued substantially in the manner prescribed by Article 1 of this chapter.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43764.

43764. The ordinance calling the election need not contain any statement as to the estimated cost of the proposed public improvement.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43765.

43765. If the bonds are to be issued to acquire outstanding bonds, the ordinance shall state generally:
(a) What bonds are to be purchased or acquired.
(b) The total principal amount of such bonds.
(c) The maximum purchase price proposed to be paid for them. The maximum purchase price shall not exceed the amount stated.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43766.

43766. The interest rate on the bonds need not be the same during the entire term and different rates may be fixed for one or more interest payments.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43767.

43767. The bonds shall not be sold at less than their par value. They may be exchanged at their par value for the outstanding bonds if the outstanding bonds are taken in exchange at a price not exceeding the maximum purchase price stated in the ordinance calling the election.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43768.

43768. In the exchange of bonds, interest upon the bonds to be acquired accruing to the date of exchange may be offset against the interest accruing upon the bonds issued pursuant to this article. In the purchase of bonds, interest accruing to date of exchange may be paid.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43769.

43769. Bonds issued pursuant to this article shall be redeemed and paid pursuant to Article 1 of this chapter.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43770.

43770. Taxes for the payment of the bonds shall be levied pursuant to Article 1 except where any issue of bonds pursuant to this article is to mature at one time.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43771.

43771. The legislative body of any city shall keep the funds arising from the sale of bonds pursuant to this article separate and distinct from all other municipal funds in a fund to be called “general improvement fund,” and shall invest and reinvest the money in bonds issued by the city, or bonds issued for street, sewer, drainage, or any other improvements within the city. It shall collect the principal of and interest on such bonds and credit it to the fund.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43772.

43772. If the bonds are issued to acquire or to provide funds for the purchase of certain outstanding bonds, they may be used only for that purpose. All of the funds not so used and all sums received in payment of principal or interest of the bonds acquired by the city or received from their sale shall be used for the payment of the principal and interest of the bonds issued pursuant to this article.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43773.

43773. At such times as the legislative body determines, it may sell any of the bonds purchased by it. The bonds shall not be sold at a price less than that paid for them.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43774.

43774. The purchase price of any bonds sold and the accrued interest on them shall be placed in the general improvement fund and may be reinvested in bonds, or, if such reinvestment is not permitted, shall be used to pay principal and interest of the bonds issued pursuant to this article.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43775.

43775. During the time the city owns any district bonds payable from taxes or assessments levied wholly or partially in accordance with the assessed value of the land within the district, the legislative body may omit any sum for the payment of principal and interest past due and unpaid because of delinquencies from the amount of the annual tax or assessment to be levied for the payment of principal and interest of such bonds. It may also limit or omit any sum for anticipated delinquencies. The legislative body may exercise its discretion as to such omission each year. The tax or assessment shall be levied pursuant to the statute under which the bonds acquired were issued, but the total amount of the annual levy may be limited as provided in this section.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43776.

43776. When bonds are acquired at less than their par value, the legislative body may reduce the total principal amount of any issue acquired and held by it to a total principal amount to be fixed by ordinance. The reduced total principal amount of the issue shall not be less at par than the total purchase price of the total principal amount of the issue acquired by the legislative body.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43777.

43777. The ordinance is subject to referendum as other ordinances and shall designate:
(a) The issue of bonds to be reduced.
(b) The total principal amount of the issue acquired.
(c) The purchase price paid for the bonds.
(d) The principal amount of the proposed reduction.
(e) The numbers, denominations, and maturity dates of the bonds to be canceled.
(f)  The time and place of the proposed cancellation.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43778.

43778. At the time and place fixed, the bonds shall be publicly canceled, and the city clerk shall enter on the minutes of the legislative body a record of the bonds canceled sufficient to identify them and the fact and date of their cancellation.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43779.

43779. If the bonds canceled are issued under the Improvement Bond Act of 1915, the legislative body shall reduce the principal amount of the assessments securing the bonds to the total principal amount of the unpaid and uncanceled bonds of the same issue.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43780.

43780. The reduction of assessments shall be carried out by canceling such proportion of the assessments as is necessary, and the legislative body may provide procedure for such cancellation. The uncanceled portion of the assessments is valid and shall be collected pursuant to the statutes under which the original assessments were levied and bonds issued.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43781.

43781. When the legislative body of any city has acquired any district bonds pursuant to this article, it may, as an alternative to the procedure prescribed in Sections 43775 to 43780, inclusive, cancel all or any of such district bonds, if in its opinion the public interest and welfare will be better served by such cancellation than by enforcing the lien securing the bonds.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43782.

43782. Before ordering the cancellation, by ordinance the legislative body shall:
(a) Determine that the public interest and welfare will be best served by the cancellation of all or part of the principal and interest of the bonds.
(b) Designate the issue of bonds to be canceled or the principal amount, numbers, and denominations of the bonds proposed to be canceled, if less than all.
(c) Fix the time and place of the proposed cancellation. The ordinance is subject to referendum as other ordinances of the city.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43783.

43783. At the time and place fixed in the ordinance, the bonds shall be publicly canceled, and the legislative body shall cause a record of the cancellation to be entered on its minutes. It shall cancel all assessments securing the bonds and all liens upon any property subject to assessment for the payment of the bonds, or such part of the assessments as is necessary, including any delinquent assessments and interest, penalties, and costs.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43784.

43784. The legislative body may sell any district bonds acquired from money in the general improvement fund to any property owner at such price as it determines, to enable him to use the bonds upon redemption of any property subject to assessment for the payment of such bonds. Such sale shall not be made unless the property owner simultaneously redeems the property and reinstates it upon the assessment rolls of the city free and clear of all unpaid liens and assessments, other than the lien for current city taxes not yet due and payable.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43785.

43785. All district bonds sold for the purpose of effecting such redemption shall be canceled and discharged upon the redemption of the property. The treasurer shall cause the proper notation of cancellation and discharge to be entered upon the city records.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43786.

43786. The legislative body may determine that any issue of bonds pursuant to this article shall mature at one time, not to exceed twenty years from the date of issue.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43787.

43787. If the bonds are made to mature at one time, the annual tax levy shall be sufficient to pay the interest on the bonds as it comes due and create a sinking fund for the payment of the principal on or before maturity.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43788.

43788. The sum to be raised each year and placed in the sinking fund for the payment of the principal shall not be less than an amount obtained by dividing the total principal amount of the bonds issued by the total number of years they are to run.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43789.

43789. If the entire issue of bonds is to mature at one time, the bonds may be called for redemption in numerical order at par and accrued interest on any interest payment date prior to their fixed maturity.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43790.

43790. Any bond issued pursuant to this article shall not be callable or redeemable prior to its fixed maturity date unless it contains a statement that the bond is callable.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43791.

43791. At least once each year, within sixty days prior to an interest payment date, if the sinking fund contains sufficient available money to call one or more of the outstanding bonds, the legislative body shall invite sealed proposals for the sale to the city of any bonds for payment of which the sinking fund was created. The invitation shall be by a notice published once a week for two weeks in a newspaper published in the city. The legislative body may provide for additional publication in other newspapers.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43792.

43792. The notice shall state the amount available for the redemption of bonds and specify the time and place the proposals will be opened. At such time and place, all proposals shall be opened in public. Any or all proposals may be rejected in the discretion of the legislative body.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43793.

43793. A proposal shall not be accepted unless the sale price is less than par and accrued interest. If no proposals are received, or if those received are rejected or are insufficient to exhaust the money available for the redemption of bonds, the legislative body shall call in numerical order such outstanding bonds as can be redeemed from the money available for that purpose.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43794.

43794. Notice of the call for redemption shall be published once a week for two weeks in a newspaper of general circulation in the city. The first publication shall be not less than thirty days prior to the date fixed for redemption. Upon the date fixed, bonds called shall be redeemed at par and accrued interest to that date.
(Added by Stats. 1949, Ch. 79.)
2023 California Code › Government Code - GOV › TITLE 4 - GOVERNMENT OF CITIES › DIVISION 4 - FINANCIAL PROVISIONS › CHAPTER 4 - Bonds › ARTICLE 4 - Investment Bond Act of 1909 › Section 43795.

43795. If any bonds called are not presented for redemption on the date fixed, on the day following a sum sufficient for the payment of the principal of such bonds and accrued interest to the date of redemption shall be placed in a special fund for that purpose, and interest on such bonds ceases on the redemption date.
(Added by Stats. 1949, Ch. 79.)