reglab/statecodes huggingface dataset:
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 5 - Warrants › ARTICLE 4 - Purchase by State of County Warrants for Aid › Section 29875.

29875. The purchase shall be effected as follows:
(a) In lieu of the issue of registered warrants to the persons to whom the county is liable for the payment of aid, a warrant or warrants in favor of the State in the amount agreed upon between the county and the Department of Finance shall be issued by the county auditor and registered by the county treasurer.
(b) Upon the claim of the Department of Finance, the State Controller shall draw his warrant in favor of the county for the face value of the county registered warrants to be purchased under the agreement.
(c) The county warrants shall be delivered to the Department of Finance which shall thereupon transmit the Controller’s warrant to the county treasurer. The county warrants shall be deposited with the State Treasurer by the Department of Finance.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 5 - Warrants › ARTICLE 4 - Purchase by State of County Warrants for Aid › Section 29876.

29876. The funds received by a county from the State in payment for warrants of the county shall be kept in a separate fund and used only for the payment of the aid for which the county is liable under the Welfare and Institutions Code, relating to the needy aged, aid to the needy blind, and aid to needy children.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 5 - Warrants › ARTICLE 4 - Purchase by State of County Warrants for Aid › Section 29877.

29877. Any funds received by the Department of Finance in payment of county registered warrants purchased pursuant to this article shall be immediately deposited in the State Treasury. The proceeds received as the principal amount of the warrants shall be credited to the appropriations from which the respective warrants were purchased.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 5 - Warrants › ARTICLE 4 - Purchase by State of County Warrants for Aid › Section 29878.

29878. All registered warrants issued to the State pursuant to this article are subject in every respect to Article 2.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29900.

29900. Any county may issue funding or refunding bonds pursuant to this chapter for the following purposes:
(a) To refund any outstanding county indebtedness, evidenced by bonds or warrants.
(b) For any purposes for which the board of supervisors is authorized to expend the funds of the county.
(c) For the purpose of building or constructing roads, bridges, or highways.
(Amended by Stats. 1947, Ch. 1198.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29901.

29901. The board of supervisors shall adopt an order calling and providing for a bond election, which order shall state:
(a) The purpose or purposes for which the indebtedness is to be incurred.
(b) The amount of bonds proposed to be issued.
(c) The maximum rate of interest.
(d) The date of the election.
(e) The manner of holding the election and the procedure for voting for or against the proposition.
(Amended by Stats. 1957, Ch. 141.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29901.5.

29901.5. All or any part of the proceeds of the bonds may be contributed or paid to any agency, board, commission or entity constituted or provided for by agreement under or pursuant to Article 1, Chapter 5, Division 7, Title 1 of the Government Code, if the board of supervisors shall find that such contribution will effectuate a purpose stated in the bond proposition and will be in aid of a purpose which will materially benefit and serve the general county interest and that the public interest, convenience, and neccessity of the county as a whole requires the contribution to be made by the county.
(Amended by Stats. 1957, Ch. 141.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29902.

29902. The board of supervisors shall provide for submitting the question of the issuance of the bonds to the qualified electors of the county at the next general election or at a special election to be called by it for that purpose.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29903.

29903. The words “Bonds—Yes,” and “Bonds—No,” or words of similar import shall appear on the ballot adjacent to each bond proposition.
(Amended by Stats. 1957, Ch. 141.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29905.

29905. A special election may be held as provided in this article. Only qualified voters of the county may vote. The election shall be held as nearly as practicable in conformity with the general election law of the State. The board of supervisors may form bond election precincts by adopting the precincts established for general election purposes or by consolidating precincts inside of cities and towns, to a number not exceeding six in each bond election precinct, and shall appoint only one inspector, two judges, and one clerk for each bond election precinct.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29906.

29906. The order calling and providing for a bond election shall be published in one or more newspapers published in the county once a week for at least four weeks. If no newspaper is published in the county, copies of the order shall be conspicuously posted in five public places in the county at least 14 days before the election. No other notice of such election need be given.
(Amended by Stats. 1957, Ch. 141.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29907.5.

29907.5. Article 3 (commencing with Section 9160) of Chapter 2 of Division 9 of the Elections Code, relating to arguments concerning county measures, are applicable to this chapter.
(Amended by Stats. 1994, Ch. 923, Sec. 60. Effective January 1, 1995.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29908.

29908. If two-thirds of the electors voting on a proposition vote in favor of it, the bonds in an amount not exceeding that specified in said proposition may be issued. When two or more propositions are submitted at the same election, the votes cast for and against each proposition shall be separately counted.
(Amended by Stats. 1957, Ch. 141.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29909.

29909. The total amount of bonded indebtedness shall not at any time exceed 5 percent of the taxable property of the county as shown by the last equalized assessment roll. If water conservation, flood control, irrigation, reclamation, or drainage works, improvements, or purposes, or the construction of select county roads is included in any proposition submitted, the total amount of bonded indebtedness may exceed 5 percent but shall not exceed 15 percent of the taxable property of the county as shown by the last equalized assessment roll.
(Amended by Stats. 1968, Ch. 20.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29910.

29910. If the issuance of the bonds is authorized at said election, the board may thereafter adopt a resolution or resolutions providing for the issuance of all or any part of the bonds authorized at said election. Said resolution shall prescribe the form of the bond and attached interest coupons, and fix the time or times of maturity of the bonds.
(Amended by Stats. 1957, Ch. 141.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29910.1.

29910.1. The board 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; provided, that the earliest maturity of each issue or series, as the case may be, shall not be more than two years from the date of the bonds of said issue or series. The final maturity date of any bond shall not exceed 40 years from the date of the bond. Every year beginning with the date of the earliest maturity of each issue or series of bonds, as the case may be, not less than one-fortieth of the whole of the indebtedness evidenced by such issue or such series shall be payable; 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 another 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.
(Amended by Stats. 1967, Ch. 37.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29910.2.

29910.2. When the issuance of bonds shall have been authorized pursuant to two or more propositions submitted at the same or different elections, all or any part of said bonds not theretofore issued may be combined and issued and sold as a single issue or series.
(Added by Stats. 1957, Ch. 141.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29911.

29911. In the resolution providing for the issuance of the bonds, the board may provide for the call and redemption of all or any part of the bonds on any interest payment date prior to their fixed maturity, at their par value plus a specified premium, if any, and accrued interest. The bonds to be called for redemption prior to maturity shall be selected in such manner as the board may provide in said resolution. If a bond is subject to call and redemption a statement to that effect shall be set forth on the face of the bond.
(Amended by Stats. 1957, Ch. 141.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29912.

29912. Notice of redemption shall be published at such time and in such manner as the board may provide in the resolution providing for the issuance of the bonds.
(Amended by Stats. 1957, Ch. 141.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29913.

29913. If funds are made available for the payment of the principal, interest, and premium on the bonds called, the interest on the bonds shall cease after the date fixed for redemption.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29915.

29915. The principal and interest shall be payable in lawful money of the United States, either at the treasury of the county or at such place within the United States as the board designates, or both at the treasury or the designated place at the option of the bondholder.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29916.

29916. Interest on the bonds shall not exceed 8 percent per annum, payable semiannually, except that interest for the first year after the date of the bonds may be made payable at the end of said year.
(Amended by Stats. 1975, Ch. 130.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29917.

29917. (a) The bonds shall be signed by the chairperson of the board of supervisors or by any other member thereof as the board of supervisors shall, by resolution adopted by a four-fifths vote of all its members, authorize and designate for that purpose, and also signed by the treasurer of the county, and shall be countersigned by the clerk thereof. All the signatures and countersignatures may be printed, lithographed, engraved, or otherwise mechanically reproduced except that one of the signatures or countersignatures to the bonds shall be manually affixed. Any signature may be affixed in accordance with the provisions of the Uniform Facsimile Signatures of Public Officials Act, Chapter 6 (commencing with Section 5500) of Division 6 of Title 1 of the Government Code.
(b) Notwithstanding subdivision (a), the board of supervisors may, in its discretion, determine that all of the required signatures and countersignatures shall be by facsimiles, provided however that the bonds shall not be valid or become obligatory for any purpose until manually signed by an authenticating agent duly appointed by the board or its authorized designee.
(Amended by Stats. 1988, Ch. 1055, Sec. 4.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29918.

29918. The bonds shall be sold at the times, in the amounts, and in the manner prescribed by the board, but for not less than par.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29919.

29919. At its option the board may use the following form of bond:
“No. _________
$ _________
United States of America
County of ________
State of California
The County of ____, State of California, hereby acknowledges itself indebted and promises to pay the bearer hereof, on the ____ day of ____, one thousand nine hundred ____ (here insert the date of maturity), the sum of ____ dollars in lawful money of the United States, with interest thereon in like lawful money, at the rate of ____ percent a year, payable at ____ semiannually (or annually) on the first day of ____, and ____ (or on the first day of ____ if interest payable annually), on presentation and surrender of the interest coupon hereto attached.
(Here insert provision for call and redemption if board elects to make bonds callable.)
This bond is issued by the board of supervisors of the County of ____, State of California, in strict compliance with Article 1, Chapter 6, Division 3, Title 3, of the Government Code of the State of California, and in pursuance of an order of the board duly made on the ____ day of ____, 19___, and with the assent of two-thirds of the qualified electors of the county voting at an election legally called and duly held for that purpose on the ____ day of ____, 19___.
And it is hereby certified and recited that the bonded indebtedness of this county, including this bond, does not exceed ____ percent of the taxable property thereof, as shown by the last equalized assessment roll of the county, and that provision has been made for the collection of an annual tax sufficient to pay the interest on this indebtedness as it falls due and to constitute a sinking fund for the payment of the indebtedness at or before maturity.
In witness whereof, the county, by its board of supervisors, has caused this bond to be signed by the chairman of the board of supervisors, and attested by the county auditor, and the seal of the board of supervisors to be hereto attached, this ____ day of ____, 19___.
Chairman of board of supervisors.
Attest: , County Auditor.” _____
(Amended by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29920.

29920. The interest coupon may be in the following form:
“The County of ____, State of California, hereby promises to pay to the holder hereof, on the ____ day of ____, 19___, at ____ in ____, $____ in lawful money of the United States, for interest on its county bond,
No. ______.
_______,
_______, County Auditor.”
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29921.

29921. 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 proposition; provided, however, that when said purpose and object have 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. 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.
(Repealed and added by Stats. 1957, Ch. 141.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29922.

29922. At the time of making the next general tax levy after incurring the bonded indebtedness, and annually thereafter until all of the bonds are paid or until there is a sum in the treasury set apart for that purpose sufficient to meet all principal and interest on the bonds, the board shall levy a tax for that year upon the taxable property of the county for the interest and redemption of the bonds.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29923.

29923. The tax for interest and redemption of bonds shall be in addition to all other taxes, and shall not be less than sufficient to pay the interest on the bonds and such portion of the principal, if any, as is to become due before the time for making the next general tax levy. It shall also be sufficient to constitute a sinking fund for the payment of the principal of the bonds on or before maturity. The board shall provide for the levy of an annual tax sufficient to effect the objects of this section either in the resolution providing for the issuance of the bonds or in an ordinance adopted before or at the time of issuing the bonds.
(Amended by Stats. 1957, Ch. 141.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29924.

29924. When collected the tax shall be paid into the treasury of the county and used solely to pay the interest and principal of the bonds as they become due.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29924.5.

29924.5. (a) Prior to the issuance by a county of bonds pursuant to this chapter, the board may elect, by resolution, to guarantee payment on outstanding bonds of the county issued pursuant to this chapter in accordance with the following:
(1) A county 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 county for the purposes of this section.
(2) In the event that, for any reason, the amount of property 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 county 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 property 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 county 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 county 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 county 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 county, including, but not limited to, any payment in satisfaction of any debt or liability incurred or guaranteed by a county in accordance with this section.
(Added by Stats. 1990, Ch. 1177, Sec. 2. Effective September 24, 1990.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29925.

29925. If the board fails to make the levy necessary to pay the bond or interest coupons at maturity and any bond or interest coupon is presented to the treasurer and payment is refused, the owner may file the bond, together with all unpaid coupons, with the State Controller, taking his receipt therefor. The bonds shall be registered in the State Controller’s office and the State Board of Equalization shall, at its next session and at each annual equalization thereafter, add to the state tax to be levied in the county a sufficient rate to realize the amount of principal or interest past due and to become due prior to the next levy.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29926.

29926. The tax shall be levied and collected as a part of the state tax and paid into the State Treasury and passed to the special credit of the county as a bond tax.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29927.

29927. The payments shall be made, as they mature, by warrants to the holder of the registered obligations, as shown by the register in the office of the State Controller, until the obligations are fully satisfied and discharged, and any balance then remaining shall be passed to the general account and credit of the county.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29928.

29928. If any officer whose signature, counter-signature, or attestation appears on any county bond or coupon ceases to be such officer before the delivery of the bonds to the purchasers, the signature, counter-signature, or attestation appearing either on the bonds or the coupons, or on both, is valid and sufficient for all purposes to the same extent as if the officer had remained in the office until the delivery of the bonds. The signature upon the coupons of the person who is auditor or treasurer at the date of the bonds is valid although the bonds themselves are attested by a different person who is auditor or treasurer at the time of their delivery.
(Amended by Stats. 1957, Ch. 141.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 1 - General › Section 29930.

29930. When the board of supervisors deems it in the best interests of the county, it may authorize the county treasurer, upon such terms and conditions as may be fixed by the board of supervisors, to issue notes, on a competitive-bid basis, maturing within a period not to exceed one year, in anticipation of the sale of bonds duly authorized at the time such notes are issued. The proceeds from the sale of such notes shall be used only for the purposes for which may be used the proceeds of the sale of bonds in anticipation whereof the notes were issued.
All notes issued and any renewal thereof shall be payable at a fixed time, solely from the proceeds of the sale of the bonds and not otherwise, 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 county 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 such note or notes.
Every note and any renewal thereof shall be payable from the proceeds of the sale of bonds and not otherwise. The total amount of such notes or renewals thereof issued and outstanding shall at no time exceed the total amount of the unsold bonds.
Interest on the notes shall be payable from proceeds of the sale of bonds.
(Added by Stats. 1971, Ch. 1537.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 2 - Destruction of Unsold Bonds › Section 29940.

29940. At any time after two years subsequent to the date of any election authorizing the issuance of bonds for county purposes, the board of supervisors may determine that the sale of any bonds remaining unsold is inexpedient and order their destruction, pursuant to this article.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 2 - Destruction of Unsold Bonds › Section 29941.

29941. The board shall give notice of its intention to destroy the bonds by a notice published for one week in a newspaper of general circulation published and circulated in the county. The notice shall contain the time and place of the intended destruction, and the reason, and a general description of the character and amounts of the bonds. The time specified for the destruction of the bonds shall be at least one week after the date of completion of such publication.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 2 - Destruction of Unsold Bonds › Section 29942.

29942. At the time and place specified and in accordance with the terms of the notice, the board shall publicly destroy the bonds.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 2 - Destruction of Unsold Bonds › Section 29943.

29943. No other issue of bonds in place of those destroyed shall be made unless again authorized by a vote of the people.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29950.

29950. Any county may incur a bonded indebtedness for any of the following purposes.
(a) To acquire any bonds:
(1) Issued by the county.
(2) Issued by or for any district in the county.
(3)  Issued for street work or other public improvements of any kind or character in the county under any act of the Legislature providing for the performance of street work or any other public improvements.
(b) To represent or be secured by assessments levied for such work or improvements, including any bonds issued under the Road District Improvement Act of 1907, the Acquisition and Improvement Act of 1925, and the Street Opening Bond Act of 1921.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29951.

29951. The intent of this article is that investments of county funds shall be made for the purpose of: (a) aiding and facilitating the making of needed public improvements in the county; (b) limiting or preventing the increasing of district taxes or assessments which may lessen or impair the general tax revenues of the county from any district; and (c) providing means by which district indebtedness or assessments represented by or securing bonds may be reduced.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29952.

29952. Except as otherwise provided in this article, the bonds authorized to be issued pursuant to this article may be issued and sold pursuant to Article 1 or any other law governing the issuance and sale of general county obligations.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29953.

29953. The interest rate on the bonds need not be the same during their entire term, but different rates may be fixed for one or more interest payments on the bonds.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29954.

29954. If the bonds are to be issued to acquire outstanding bonds, the order calling the election shall briefly and generally state what bonds are to be purchased or acquired, the total principal amount, and the maximum price proposed to be paid. The maximum price so stated shall not be exceeded in the purchase of the bonds.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29955.

29955. The bonds shall not be sold at less than their par value, or 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 price stated in the order calling the election.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29957.

29957. The taxes for the payment of the bonds shall be levied pursuant to Article 1, except where the entire issue is to mature at one time, taxes shall be levied annually to provide interest and a sinking fund under this article.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29958.

29958. The county treasurer shall keep the money arising from the sale of bonds issued pursuant to this article separate and distinct from all other county money in a fund called “General improvement fund.”
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29959.

29959. The board shall invest and reinvest the money in the general improvement fund in bonds issued by the county or bonds issued for highway, sewer, drainage, or other improvements within the county.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29960.

29960. The board shall collect the principal and interest on the bonds and credit the amount collected to the general improvement fund, except that if the bonds are issued to acquire or to provide money for the purchase of certain outstanding bonds, it shall be used only for that purpose, and all of the money not so used and all sums received in payment of principal or interest on the bonds acquired by the county or received from the sale thereof shall be used for the payment of the principal and interest of the bonds issued pursuant to this article.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29961.

29961. The board may sell any of the bonds purchased by it at a price not less than that paid. The purchase price of any bonds so sold and the accrued interest thereon shall be placed in the general improvement fund and may be reinvested in bonds, except where such reinvestment is not permitted.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29962.

29962. During the time the county 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 board of supervisors may each year omit from the amount of the annual tax or assessment to be levied for the payment of principal and interest of the bonds any sum for the payment of principal and interest due and unpaid because of delinquencies, and may limit or omit any sum for anticipated delinquencies. The tax or assessment shall be levied in accordance with the statute under which the bonds acquired were issued, but the total amount of any annual levy may be limited as provided in this article.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29963.

29963. If any bonds are acquired at less than their par value, the board may reduce the total principal amount of any issue of bonds so acquired and held to a total principal amount which it may fix by ordinance. The reduced total principal amount of any issue shall not be less at par than the total purchase price of the total principal amount of the bonds of the issue acquired by the county.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29964.

29964. The ordinance shall designate the issue of bonds to be reduced, the total principal amount of the issue acquired, the purchase price paid, the principal amount of the proposed reduction, the numbers, denominations, maturity dates of the bonds to be canceled, and the time and place of the proposed cancellation. The ordinance is subject to referendum.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29965.

29965. Unless prevented by petition protesting the passage of the ordinance, signed and filed with the board pursuant to Section 9144 of the Elections Code, the bonds shall be publicly canceled at the time and place fixed, and the clerk of the board of supervisors shall enter on the minutes of the board of supervisors a record of the bonds canceled sufficient to identify them and the fact and date of the cancellation.
(Amended by Stats. 2006, Ch. 588, Sec. 9. Effective January 1, 2007.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29966.

29966. If the bonds canceled are issued pursuant to the Improvement Bond Act of 1915 to pay the cost of any work or improvement made under the Improvement Act of 1911, the board 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. The reduction of assessments shall be carried out by canceling such proportion of the assessments as is necessary, and the board shall provide procedure for the cancellation in accordance with constitutional requirements. The uncanceled portion of the assessments shall be valid and collected in accordance with the terms of the statutes under which the original assessments were levied and bonds issued.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29967.

29967. The board may make any issue of bonds issued pursuant to this article mature at one time, not to exceed 20 years after the date of issuance.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29968.

29968. If the bonds 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. The sum to be raised each year and placed in the sinking fund for the payment of the principal of the bonds shall not be less than an amount obtained by dividing the total principal amount of the bonds issued by the total number of years the bonds are to run.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29969.

29969. If the entire issue of bonds is to mature at one time, such bonds may be called for redemption in numerical order at par and accrued interest on any interest-payment date prior to their fixed maturity, and a statement to that effect shall be set forth in each bond. No bond shall be callable or redeemable prior to its fixed maturity date, unless a statement that the bond is callable is contained in the bond.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29970.

29970. At least once each year within 60 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 board shall, by notice published once a week for two successive weeks in some newspaper published in the county, and, in its discretion, in any other newspaper or newspapers, invite sealed proposals for the sale to the county of any bonds for the payment of which the sinking fund was created. The notice shall state the amount available for redemption of the bonds and specify the time and the place the proposals will be opened.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29971.

29971. At the time and place designated all proposals shall be opened in public. Any or all of the proposals may be rejected in the discretion of the board. Proposals shall not be accepted unless the sales price is less than par and accrued interest.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29972.

29972. 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 board shall call in numerical order such outstanding bonds as can be redeemed from the money available for that purpose.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29973.

29973. Notice of the call of bonds for redemption shall be published once a week for two weeks in a newspaper of general circulation published in the county. The first publication shall be not less than 30 days prior to the date fixed for redemption.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29974.

29974. Upon the date fixed for redemption, the bonds called shall be redeemed at par and accrued interest to that date.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29975.

29975. 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 the bonds and accrued interest to the date of redemption shall be placed in a special fund for that purpose, and interest on the bonds for which provision is made shall cease on the redemption date.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 3 - Special Improvement Bonds › Section 29976.

29976. This article is intended to provide an alternative system for the issuance of bonds and does not affect any other provision of law for the issuance of bonds. If in the discretion of the board proceedings are commenced under this article, this article shall govern the procedure to be taken.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 4 - Payment of Unauthorized Indebtedness › Section 30000.

30000. If it appears to the satisfaction of the board of supervisors that the county is justly indebted to any person for money received into the treasury of the county and used by the county, for an indebtedness which at the time of its creation was not authorized by law, it shall by ordinance declare that the county is justly indebted to the person named in the ordinance in a sum stated therein, and that the question of issuing bonds in the sum stated, for the purpose of paying the debt shall be submitted to a vote of the voters of the county.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 4 - Payment of Unauthorized Indebtedness › Section 30001.

30001. The board shall publish a notice calling an election, submitting to the voters of the county the question whether the bonds shall be issued. The notice shall state the amount of bonds and the purpose for which they are to be issued. The notice shall be published and the election held pursuant to Article 1.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 4 - Payment of Unauthorized Indebtedness › Section 30002.

30002. If two-thirds of all the voters voting at the election vote in favor of issuing the bonds, the board shall issue bonds in the sum stated in the notice of election, and payable to the creditors named in the ordinance.
(Added by Stats. 1947, Ch. 424.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 4 - Payment of Unauthorized Indebtedness › Section 30003.

30003. The bonds shall bear interest at the rate of 5 percent a year and be payable at the time as the board orders, not exceeding 20 years from date of issuance. The bonds shall be signed by the chair of the board of supervisors and the clerk of the board of supervisors.
(Amended by Stats. 2002, Ch. 221, Sec. 38. Effective January 1, 2003.)
2023 California Code › Government Code - GOV › TITLE 3 - GOVERNMENT OF COUNTIES › DIVISION 3 - FINANCIAL PROVISIONS › CHAPTER 6 - Bonds › ARTICLE 4 - Payment of Unauthorized Indebtedness › Section 30004.

30004. Each year the board shall levy a tax sufficient to pay the annual interest on the bonds and the principal as it becomes due.
(Added by Stats. 1947, Ch. 424.)