reglab/statecodes huggingface dataset:
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50666.6.

50666.6. The general fund of a local agency is not liable for the payment of the bonds or their interest.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50666.7.

50666.7. The general credit or taxing power of the local agency, other than the revenues pledged, is not liable for the payment of the bonds or their interest.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50666.8.

50666.8. The holder of the bonds shall not compel the exercise of the taxing power by the local agency, other than the revenues pledged, or the forfeiture of its property.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50666.9.

50666.9. The principal of, and interest on, the bonds and any premiums upon the redemption of any thereof are not a debt of the local agency, nor a legal or equitable pledge, charge, lien, or encumbrance, upon any of its property, or upon any of its income, receipts, or revenues except the revenues that have been pledged to their payment.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50667.

50667. Every bond shall recite in substance that the principal of, and interest on, the bond are payable solely from the revenues pledged to the payment of the principal and interest and that the local agency is not obligated to pay the principal or interest except from the pledged revenues.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50667.1.

50667.1. The bonds and, any interest on, or income from, the bonds are exempt from taxation in this state, except from bank and corporation franchise, gift, inheritance, and estate taxes.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50667.2.

50667.2. In the resolution authorizing the bonds, the legislative body may insert any of the provisions authorized by this article, which shall become a part of the contract with the bondholders.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50667.3.

50667.3. The legislative body may provide limitations on:
(a) The purpose to which the proceeds of sale of any issue of bonds may be applied.
(b) The issuance of additional bonds for the same purpose and on the lien of additional bonds.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50667.4.

50667.4. The legislative body may provide for events of default and terms upon which the bonds may be declared due before maturity and the terms upon which the declaration and its consequences may be waived.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50667.5.

50667.5. The legislative body may provide for the rights, liabilities, powers, and duties arising upon the local agency’s breach of any covenants, conditions, or obligations.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50667.6.

50667.6. The legislative body may provide for the vesting in a trustee of the right to enforce covenants to secure payment of, or in relation to, the bonds and the trustee’s powers and duties, and the limitation of his or her liabilities.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50667.7.

50667.7. The legislative body may provide for the terms upon which the bondholders or any percentage of the bondholders may enforce covenants or duties imposed by this article.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50667.8.

50667.8. The legislative body may provide in the resolution authorizing issuance of the bonds for a procedure for amending or abrogating the terms of the resolution with the consent of the holders of a specified number of the bonds.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50667.9.

50667.9. Any resolution containing a procedure specified in Section 50667.8 may also provide for meetings of bondholders or for their written assent without a meeting and the manner of consenting, with or without a meeting.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50668.

50668. The resolution shall specifically state the effect of amendment upon the rights of the holders of all of the bonds and shall be binding upon the holders of all of the bonds issued pursuant to the resolution.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50668.1.

50668.1. The legislative body may provide for any other acts and things necessary, convenient, or desirable to secure the bonds or tending to make them more marketable.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50668.2.

50668.2. The local agency shall pay or cause to be paid the principal and interest of the bonds on the date, at the place, and in the manner mentioned in the bonds and in accordance with the resolution authorizing their issuance.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50668.3.

50668.3. A separate, distinct, and special fund shall be created at or before the issuance of the bonds, which shall be maintained continuously during the time that any of the bonds or the interest thereon are outstanding and unpaid.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50668.4.

50668.4. All pledged revenue shall be deposited in the special fund and payments shall be made therefrom in the order specified in subdivisions (a) to (c), inclusive, of Section 50665.7.
(Amended by Stats. 1985, Ch. 1199, Sec. 1.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50668.5.

50668.5. The local agency shall preserve and protect the security of the bonds and the rights of the bondholders and shall warrant and defend the rights of the bondholders against all claims and demands of all persons.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50668.6.

50668.6. In order to fully preserve and protect the priority and security of the bonds the local agency shall pay and discharge all lawful claims for labor, materials, and supplies, which if unpaid may become a lien or charge upon the revenues prior or superior to the lien of the bonds or impair the security of the bonds.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50668.7.

50668.7. The local agency shall hold in trust the revenues pledged to the payment of the principal of and interest on the bonds for the benefit of the bondholders and shall apply the same pursuant to the resolution authorizing the issuance of the bonds or to the resolution as modified.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50668.8.

50668.8. The local agency may invest funds held in reserve, or in any sinking fund, or funds not required for immediate disbursement, in property or securities in which the local agency may legally invest funds subject to its control. No such investment shall be made in contravention of any covenant or agreement in any resolution authorizing the issuance of any outstanding bonds.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50668.9.

50668.9. The local agency shall keep proper books of record and accounts of the revenues, separate from all other records and accounts, in which complete and correct entries shall be made of all transactions relating to the revenues.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50669.

50669. At all times, the books shall be subject to the inspection of the holders of not less than 10 percent of the outstanding bonds or their representatives authorized in writing.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50669.1.

50669.1. The local agency shall cause to be published a summary statement showing the amount of revenues collected which are required as security for payment of the principal of and interest on the bonds, the disbursements from such revenues in reasonable detail, and a general financial statement.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50669.2.

50669.2. The statement shall be published annually, not more than 120 days after the close of each fiscal year. The local agency shall furnish a copy of the statement to any bondholder upon request.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50669.3.

50669.3. In the resolution authorizing the bonds, the local agency may agree that the statement shall be prepared or audited by an independent certified public accountant and shall be in the form and contain the detail specified in the resolution.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50669.4.

50669.4. The duties set forth in this article do not require the local agency to expend any funds other than revenues pledged to secure payment of the principal of or interest on bonds as provided in this article.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50669.5.

50669.5. A fiscal or paying agent may be appointed as now, or hereafter, provided in Article 7 (commencing with Section 54550) of Chapter 6 of Division 2 of Title 5.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50669.6.

50669.6. A validating proceeding may be conducted as now, or hereafter, provided in Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50669.7.

50669.7. Bondholders shall have the remedies as now, or hereafter, provided in Article 10 (commencing with Section 54640) of Chapter 6 of Division 2 of Title 5.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50669.8.

50669.8. The bonds may be refunded in the manner now, or hereafter, provided in Article 11 (commencing with Section 54660) of Chapter 6 of Division 2 of Title 5.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50670.

50670. All bonds issued in pursuance of the provisions of this article shall by their issuance be conclusive evidence of the regularity, validity, and legal sufficiency of all proceedings, acts, and determinations in any wise pertaining thereto, had or made hereunder.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50670.1.

50670.1. Any action, suit, or proceeding of any kind or nature in which the validity of any of the proceedings taken under the provisions of this article is questioned or attacked, shall be filed within 30 days after the day of the adoption of the resolution providing for the issuance of the bonds and in case such action is not brought raising such issue within that period, then thereafter all persons whatsoever shall be barred in any action, suit, or proceeding from pleading, asserting, or claiming that any of the proceedings or other actions herein specified, were defective, faulty, or invalid in any respect.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50670.3.

50670.3. This article provides an alternative authority and procedure for the subject to which it relates but does not affect any other law relating to the same or a similar subject. When proceeding under this article, its provisions only need be followed.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3 - Bonds › ARTICLE 4 - Limited Obligation Bonds › Section 50670.4.

50670.4. This article and all of its provisions shall be liberally construed to the end that the purposes of this article may be effective. If any section, subdivision, sentence, clause, or phrase of this article is for any reason held to be unconstitutional, that decision shall not affect the validity of the remaining portion of this article. It is hereby declared that this article would have been passed irrespective of the fact that any one or more sections, subdivisions, sentences, clauses, or phrases be declared unconstitutional.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50701.

50701. Subject to the provisions of this chapter, the board of a local agency may undertake and issue revenue bonds to finance the following public improvements:
(a) The acquisition, construction, maintenance, operation, improvement and development of public golf courses, marinas, or small craft harbors, and such facilities and improvements in connection therewith as in the opinion of the board may be reasonably necessary to provide for the full, complete and convenient public use of such golf courses, marinas, or small craft harbors.
(b) The acquisition, construction, maintenance and operation of facilities for the public convenience in conjunction with any public golf course, marina, or small craft harbor.
A local agency may not condemn property for the purposes of this chapter.
(Amended by Stats. 1958, 1st Ex. Sess., Ch. 9.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50702.

50702. Each separate improvement shall be designated as a “project.”
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50703.

50703. If in the opinion of the board, it is advisable that any project be acquired, constructed or completed, in whole or in part, it shall cause a report thereon to be made by any appropriate officer or officers of the local agency, which shall include:
(a) An estimate of the probable cost of the acquisition, construction and completion, including all incidental expenses, engineering, legal and administrative during the construction;
(b) An estimate of probable sources of income and the amount thereof;
(c) An estimate of the cost of maintenance and for the operation upon completion, including the cost of all repairs, administrative and overhead charges.
The expense of the preparation of the report shall be a local agency charge and shall be paid by the board out of any funds of the local agency available therefor.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50704.

50704. If the report is approved by the board, the board may adopt a resolution declaring that the public interest and necessity demand the acquisition, construction or completion of the project or of a designated part thereof, the purpose, nature and extent of which shall be described in general terms, and authorizing such acquisition, construction or completion. The board may thereupon authorize the issuance of revenue bonds for the purpose of obtaining funds in an amount estimated by the board to be sufficient for such project or part thereof.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50705.

50705. The board has full charge of the acquisition, construction and completion of all projects authorized by it and may proceed with such work subject to the availability of funds therefor.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50706.

50706. The board may institute any proceedings and acquire all real property necessary therefor on such terms and conditions as it deems advisable.
Whenever the cost of construction of any project or the cost of any repairs thereto shall exceed two thousand five hundred dollars ($2,500), such work shall be done by contract, and any contract therefor shall be void unless the same shall be let in the manner provided by Sections 25451 to 25455, inclusive in the case of a county, and Sections 37903 to 37907, inclusive, and Sections 37931 to 37935, inclusive, in the case of a city.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50706.5.

50706.5. It is unlawful to split or separate into smaller work orders or projects any project undertaken pursuant to this chapter for the purpose of evading any provisions of this chapter which require such work to be done by contract after competitive bidding. Every person who wilfully violates the provisions of this section is guilty of a misdemeanor.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50707.

50707. Title to all property acquired under this chapter and the revenue and income therefrom shall be in the name of the local agency. The title to such property and the revenue and income therefrom including any miscellaneous revenues, sinking funds, reserve funds and other such funds and the income therefrom pledged to the payment of and interest of any bonds issued hereunder is subject to the trusts created by this chapter in favor of the bondholders. All such property and the income therefrom is exempt from all taxation by the State or by the county or by any city and county, city, municipality, district, political subdivision or public corporation thereof. The management, operation and control of all improvements acquired, constructed or completed by the board under this chapter shall be fixed in the board and the powers, rights, functions and duties of the board with respect thereto shall not be impaired or interfered with.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50708.

50708. So long as any bonds issued are outstanding and unpaid, the operation, maintenance, control, repair, construction, alteration and improvement of any project acquired, constructed or completed under this chapter is vested in the board.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50709.

50709. The board may only use for the payment of the acquisition, construction, completion, maintenance, or insurance of any project undertaken under the authority of this chapter, the proceeds of revenue bonds issued and sold by the board, or the revenues from such project.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50710.

50710. The board may insure against any accident to or destruction of any project or any part thereof. Any money collected on such insurance shall be used for the purpose of repairing or rebuilding the project damaged, injured or destroyed or for the retirement of any revenue bonds issued in connection therewith which may be outstanding or unredeemed, as may be agreed upon by the board in the indenture authorizing the issuance of the bonds.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50711.

50711. The board may insure against loss of revenue from any cause whatever and the proceeds of such insurance shall be used solely for the payment of the bonds and interest thereon.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50712.

50712. The board may insure against public liability or property damage in connection with any project. It may provide in the proceedings authorizing the issuance of any revenue bonds for the carrying of such or any other insurance in such amount and of such character as may be specified and for the payment of the premiums thereon.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 1 - Authority › Section 50713.

50713. This chapter provides an alternative procedure to that otherwise provided by law for undertaking the improvements authorized herein and shall not operate to limit or control the authority of the board to undertake the same improvements in any other manner authorized by law.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50715.

50715. The board shall issue revenue bonds in the name of the local agency. These bonds shall constitute obligations of the project only, and neither the payment of the principal or interest of any such bond constitutes a debt, liability or obligation of the local agency or of the State of California. All bonds issued by the board shall contain a recital on their face that neither the payment of the principal or any part thereof nor any interest thereon constitutes a debt, liability or obligation of the local agency or of the State.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50716.

50716. The board shall determine the time, form and manner of the issuance of revenue bonds.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50717.

50717. The board may enter into indentures providing for the aggregate principal amount, date, or dates, maturities, interest rate, denominations, form, registration transfer and interchange of such bonds and coupons, and the terms and conditions upon which the same shall be executed, issued, secured, sold, paid, redeemed, funded and refunded. Reference on the face of the bonds to such indenture by its date of adoption, or the apparent date on the face thereof, is sufficient to incorporate all of the provisions thereof and of this chapter into the body of the bonds and their appurtenant coupons. Each taker and subsequent holder of the bonds or coupons, whether the coupons are attached to or detached from the bonds, has recourse to all of the provisions of the indenture and of this chapter, and is bound thereby.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50718.

50718. An indenture pursuant to which bonds are issued may include such covenants and agreements on the part of the board as the board deems necessary or advisible for the better security of the bonds issued thereunder.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50719.

50719. An indenture may include a clause relating to the bonds issued thereunder requiring the board to pay or cause to be paid punctually the principal of all such bonds and the interest thereon on the date or dates, at the place or places, and in the manner mentioned in such bonds and in the coupons appertaining thereto in accordance with such indenture.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50720.

50720. An indenture may include a clause relating to the bonds issued thereunder requiring the board to continuously operate all improvements acquired, constructed, or completed, in whole or in part, from the proceeds of the bonds in an efficient and economical manner.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50721.

50721. An indenture may include a clause relating to the bonds issued thereunder requiring the board to make all needful and necessary repairs, renewals and replacements to any improvements and to keep them at all times in good repair, working order and condition.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50722.

50722. An indenture may include a clause relating to the bonds issued thereunder requiring the board to preserve and protect the security of the bonds and the rights of the holders thereof and to warrant and defend such rights.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50723.

50723. An indenture may include a clause relating to the bonds issued thereunder requiring the board to pay and discharge or cause to be paid and discharged from the funds available for that purpose all lawful claims for labor, materials and supplies or other charges which, if unpaid, might become a lien or charge upon the revenues, or any part thereof, of any improvements acquired, constructed or completed from the proceeds of the sale of the bonds, or upon any of the physical properties thereof which might impair the security of the bonds.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50724.

50724. An indenture may include a clause relating to the bonds issued thereunder which limits, restricts, or prohibits any right, power or privilege of the board to mortgage or otherwise encumber, sell, lease or dispose of any improvements constructed from the proceeds of the bonds, or to enter into any lease or agreement which impairs or impedes the operation of such improvement, or any part thereof, necessary to secure adequate revenues or which otherwise impairs or impedes the rights of the holders of the bonds with respect to such revenues.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50725.

50725. An indenture may include a clause relating to the bonds issued thereunder requiring the board to fix, prescribe and collect fees, rates, tolls, rentals or other charges in connection with the services and facilities furnished from the improvements acquired, constructed or purchased from part or all of the proceeds of the bonds, sufficient to pay the principal of and interest on the bonds as they become due and payable, together with all expenses of operation, maintenance and repair of the improvements, and with such additional sums as may be required for any sinking fund, reserve fund or other special fund provided for the further security of such bonds or as a depreciation charge or other charge in connection with such improvement.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50726.

50726. An indenture may include a clause relating to the bonds issued thereunder requiring the board to hold in trust the revenues pledged to the payment of such bonds and the interest thereon, or to any reserve or other fund created for the further protection of the bonds, and to apply such revenues or cause them to be applied only as provided in the indenture.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50727.

50727. An indenture may include a clause limiting the power of the board to apply the proceeds of the sale of any issue of bonds for the acquiring, constructing, or completing of any improvement or any part thereof, or more than one of such improvements.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50728.

50728. An indenture may include a clause limiting the power of the board to issue additional bonds for the purpose of acquiring, constructing or completing any improvement or any part thereof.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50729.

50729. An indenture may include a clause requiring, specifying or limiting the kind, amount and character of insurance to be maintained by the board on any improvement, or any part thereof, and the use and disposition of the proceeds of any such insurance thereafter collected.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50730.

50730. An indenture may include a clause providing the events of default and the terms and conditions upon which any or all of the bonds then or thereafter issued may become or be declared due and payable prior to maturity, and the terms and conditions upon which such declaration and its consequences may be waived.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50731.

50731. An indenture may include a clause designating the rights, limitations, powers and duties arising upon breach by the board of any of the covenants, conditions, or obligations contained in any indenture.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50732.

50732. An indenture may include a clause prescribing a procedure by which the terms and conditions of the indenture may be subsequently amended or modified with the consent of the board and the vote or written assent of the holders of a specified principal amount of the bonds issued and outstanding. Such clause may provide for meetings of bondholders and for the manner in which the consent of the bondholders may be given. The clause shall specifically state the effect of such amendment or modification upon the rights of the holders of all of the bonds and interest coupons appertaining thereto, whether attached thereto or detached therefrom.
With respect to any clause providing for the modification or amendment of an indenture, the board may agree that bonds held by the board, by any department, political subdivision or agency of the State of California, or by any public corporation, municipality, district or political subdivision shall not be counted as outstanding bonds, or be entitled to vote or assent but shall nevertheless, be subject to any such modification or amendment.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50733.

50733. The indenture may include a clause providing for such other acts and matters as may be necessary or convenient or desirable in order to secure the bonds or to make the bonds more marketable.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50734.

50734. The board may designate a bank or trust company, qualified to do business in this State, as a trustee for the holders of bonds issued hereunder, and may authorize the trustee to act on behalf of the holders of the bonds, or any stated percentage thereof, and to exercise and prosecute on behalf of the holders of the bonds such rights and remedies as may be available to the holders.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50735.

50735. The board shall fix and determine the conditions upon which any trustee shall receive, hold or disburse any or all revenues collected for or on account of the bondholders. The board shall prescribe the duties and powers of such trustee with respect to the payment of principal and interest on the bonds, the redemption of the bonds, the registration and discharge from registration of the bonds, and the management of any sinking fund or other funds provided as security for the bonds.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50736.

50736. The board may issue bonds in series or may divide any issue into one or more divisions and fix different maturities or dates of such bonds, different rates of interest, or prescribe different terms and conditions for the bonds of the several series or divisions. It is not necessary that all bonds of the same authorized issue be of the same kind or character, have the same security, or be of the same interest rate, but the terms thereof shall in each case be provided for by the board, at or prior to the issue thereof. The board may provide for successive issues or may provide for one maximum issue.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50737.

50737. Bonds may be issued as coupon bonds or as registered bonds. The board may provide for the interchange of coupon bonds for registered bonds and registered bonds for coupon bonds, and may provide that the bonds shall be registered as to principal only, or as to both principal and interest, or otherwise as the board may determine.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50738.

50738. Bonds shall bear interest at a rate of not to exceed 8 percent per annum, payable annually or semiannually or in part annually and in part semiannually. Prior to the issuance of bonds the board may fix limitations or restrictions on the payment of interest.
(Amended by Stats. 1975, Ch. 130.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50739.

50739. Bonds may be callable upon such terms, conditions, and upon such notice as the board may determine, and upon the payment of the premium fixed by the board in the proceedings for the issuance of the bonds. No bond is subject to call or redemption prior to its fixed maturity date unless the right to exercise such call is expressly stated on the face of the bond.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50740.

50740. The board may provide for the payment of the principal and interest of bonds at any place within or without the State of California, and in specified coin or currency of the United States.
(Added by Stats. 1957, Ch. 2066.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 1 - CITIES AND COUNTIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES AND COUNTIES › CHAPTER 3.5 - Revenue Bonds for Public Improvements › ARTICLE 2 - Revenue Bonds › Section 50741.

50741. The board may provide for the execution and authentication of bonds by the manual, lithographed or printed facsimile signature of officers of the board. If any of the officers whose signatures or countersignatures appear upon the bonds or coupons cease to be officers before the delivery of the bonds or coupons, their signatures or countersignatures are nevertheless valid and of the same force and effect as if the officers had remained in office until the delivery of the bonds and coupons.
(Added by Stats. 1957, Ch. 2066.)