reglab/statecodes huggingface dataset:
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 1 - Definitions and General Provisions › Section 54309.1.

54309.1. “Enterprise” includes, but is not limited to, all parts of the enterprise, all appurtenances to it, and:
(a) Lands, easements, rights in land, water rights, contract rights, and franchises;
(b) Approaches, dams, reservoirs, trunk, connecting, and other water mains, filtration works, pumping stations, water supply, storage, and distribution facilities and equipment;
(c) Garbage trucks, equipment, dumps, garbage disposal plants, and incinerators or other disposal facilities, including facilities to sort and prepare components of solid waste for sale and facilities to convert solid waste to energy and reusable materials;
(d) Sewage treatment plants, sewage disposal plants, intercepting and collecting sewers, outfall sewers, trunk, connecting, and other sewer mains;
(e) The franchises or licenses to operate a ferry or ferry system, all boats and vessels, all land and interest in land, all slips, wharves, piers, landing places, approaches, and all facilities and equipment used in the maintenance and operation of a ferry or ferry system, or harbor, including small boat harbors, marinas, aquatic playgrounds, and similar recreational facilities;
(f) Ambulances, both inpatient and outpatient facilities, laboratories, pharmacies, surgical instruments, and equipment of such nature as may be reasonably necessary for the treatment of patients; and
(g) All buildings, structures, improvements, equipment, ditches, canals, and facilities whatsoever appurtenant or relating to the enterprise.
(Amended by Stats. 1978, Ch. 1011.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 1 - Definitions and General Provisions › Section 54310.

54310. “Enterprise” does not include, and this chapter does not authorize a local agency to borrow money and issue bonds for, systems, plants, works, or undertakings for:
(a) The distribution of electric energy for lighting, heating, and power for public or private uses.
(b) The generation, production, transmission, and distribution of gas for public or private uses.
These exclusions shall not apply to systems, plants, works, or undertakings which result in conversion to energy and reusable materials of solid waste as defined in Section 66719.
(Amended by Stats. 1978, Ch. 1011.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 1 - Definitions and General Provisions › Section 54311.

54311. Subject to the limitations of Sections 54309 and 54310, in any resolution calling an election for the issuance of bonds for acquiring, constructing, improving, or financing any enterprise, the legislative body may define “enterprise” and that definition applies to the bonds authorized at the election.
(Amended by Stats. 1953, Ch. 526.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 1 - Definitions and General Provisions › Section 54312.

54312. “Improve” means reconstruct, replace, extend, repair, better, equip, develop, embellish, or otherwise improve.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 1 - Definitions and General Provisions › Section 54313.

54313. “Bonds” means bonds, notes, or other obligations issued by a local agency pursuant to this chapter and payable exclusively from revenues of an enterprise and from any or all of the other funds referred to in Section 54478 upon which the bonds, notes, or other obligations are to be made a charge and from which they are to be payable.
(Amended by Stats. 1990, Ch. 1130, Sec. 1.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 1 - Definitions and General Provisions › Section 54314.

54314. “Charges” includes fees, tolls, rates, and rentals.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 1 - Definitions and General Provisions › Section 54315.

54315. “Revenues” mean all charges received for, and all other income and receipts derived by the local agency from, the operation of the enterprise or arising from the enterprise. Revenues include revenue deposited in a sinking, redemption, or reserve fund or other fund to secure the bonds or to provide for the payment of them or the interest on them.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 1 - Definitions and General Provisions › Section 54316.

54316. “Holder of bonds” or “bondholder” means:
(a) The bearer of any outstanding bond registered to bearer or not registered.
(b) The registered owner of an outstanding bond registered other than to bearer at the time.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54340.

54340. A local agency may acquire any enterprise by gift, purchase, or eminent domain.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54341.

54341. A local agency may construct or improve any enterprise wholly or partially within or wholly without the local agency. By gift, lease, purchase, eminent domain, or otherwise, it may acquire any real or personal property, or any interest in or improvement on any such property, or any water rights for an enterprise, except that no property of a state public body may be acquired without its consent. A local agency may sell, lease, exchange, transfer, assign or otherwise dispose of any real or personal property or any interest in such property. It may lay out, open, extend, widen, straighten, establish or change the grade of any real property or public rights of way necessary or convenient for any enterprise.
(Amended by Stats. 1953, Ch. 811.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54342.

54342. A local agency may operate, maintain, repair, or manage all or any part of any enterprise, including the leasing for commercial purposes of surplus space or other space which it is not economic to use for such enterprise.
(Amended by Stats. 1953, Ch. 526.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54343.

54343. The local agency may adopt reasonable rules or regulations for the conduct of the enterprise.
(Added by Stats. 1955, Ch. 602.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54344.

54344. A local agency may prescribe, revise, and collect charges for the services, facilities, or water furnished by the enterprise.
(Amended by Stats. 1953, Ch. 526.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54345.

54345. The local agency may provide that charges for any sewer enterprise or service shall be collected together with and not separately from the charges for any other utility service rendered by it, and that all charges shall be billed upon the same bill and collected as one item.
(Amended by Stats. 1949, Ch. 1506.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54346.

54346. (a) If all or part of the bill is not paid, the local agency may discontinue any and all service for which the bill is rendered.
(b) Commencing January 1, 1982, if all or part of the bill is not paid, and the ratepayer states the reason for the nonpayment of a component or components of the bill, the local agency may discontinue only that service related to the component of the bill which is not paid, except that if all or part of the component of the bill related to sewer service is not paid the water service may also be discontinued.
However, if any of the services for which the bill was rendered were financed pursuant to revenue bonds issued prior to January 1, 1982, and which have not been retired, the local agency may apply the provisions of subdivision (a).
(c) The provisions of this section shall apply to counties and cities, whether general law or chartered.
(Amended by Stats. 1981, Ch. 786, Sec. 1.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54346.1.

54346.1. The local agency may enter into a written contract with a privately owned public utility rendering other than gas or electric service, that the charges for any sewer enterprise or service shall be collected together with and not separately from the charges of said privately owned public utility for any other utility service rendered by it, and that all charges shall be billed upon the same bill and collected as one item.
(Added by Stats. 1949, Ch. 1506.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54346.2.

54346.2. If all or any part of the bill of any privately owned public utility on which any sewer enterprise or service charge is collected is not paid, the privately owned public utility may discontinue its utility service until said bill is paid.
(Added by Stats. 1949, Ch. 1506.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54346.3.

54346.3. The local agency may enter into a written contract with any person, firm or public or private corporation providing for the billing and collection by such person, firm or corporation of the charges for the facilities, service or water furnished by any enterprise. If all or any part of any bill rendered by any such person, firm or corporation pursuant to any such contract is not paid and if such person, firm or corporation renders any public utility service to the person billed, such person, firm or corporation may discontinue its utility service until such bill is paid, and the contract between the local agency and such person, firm or corporation may so provide.
(Added by Stats. 1953, Ch. 526.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54346.4.

54346.4. (a) A local agency whose jurisdiction is geographically coextensive with the county in which it operates, acquires, constructs, or improves a system, plan, works, facilities, or undertaking for the collection, treatment, or disposal of storm water, including drainage, may, with the concurrence of the county, provide for the collection of the agency’s charges in the same manner, and subject to the same penalties and priority of lien as, other charges and taxes fixed and collected by, or on behalf of the local agency. However, if, for the first year the charges are prescribed, the property served by the agency has been transferred or conveyed to a bona fide purchaser for value, and attached thereon, prior to the date on which the first installment of county taxes would become delinquent, the charge shall not result in a lien against the real property but shall be transferred to the unsecured roll.
(b) If the charges are collected by the county, the county may deduct its reasonable costs incurred for the service before remittal of the balance to the local agency’s treasury.
(Added by Stats. 1992, Ch. 1208, Sec. 2. Effective January 1, 1993.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54347.

54347. The local agency may provide for the collection of charges. Provisions may be made for, but are not limited to:
(a) The granting of discounts for prompt payment of bills.
(b) The requiring of deposits or the prepayment of charges in an amount not exceeding one year’s charges either from persons receiving service and using the facilities of the enterprise or from the owners of property on which or in connection with which said services and facilities are to be used; provided, however, that in case of nonpayment of all or part of a bill said deposits or prepaid charges shall be applied only insofar as necessary to liquidate the cumulative amount of such charges plus penalties and costs of collection.
(c) The requiring of a guaranty by the owner of property that the bills for service to said property or the occupants thereof will be paid.
(Amended by Stats. 1955, Ch. 602.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54348.

54348. The local agency may provide for a basic penalty for nonpayment of the charges within the time and in the manner prescribed by it. Said basic penalty shall not be more than 10 percent of each month’s charges for the first month delinquent. In addition to the basic penalty it may provide for a penalty of not exceeding one-half of 1 percent per month for nonpayment of the charges and basic penalty. On the first day of the calendar month following the date of payment specified in the bill the charge shall become delinquent if the bill or that portion thereof which is not in bona fide dispute remains unpaid. It may provide for collection of the penalties herein provided for.
(Amended by Stats. 1955, Ch. 602.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54349.

54349. The local agency may issue bonds for funds to acquire, construct, improve or finance an enterprise. The bonds may be secured pursuant to this chapter.
(Amended by Stats. 1953, Ch. 526.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54350.

54350. A local agency has police power over any enterprise acquired, constructed, or improved pursuant to this chapter and may make and enforce all necessary regulations to protect the public health in the operation and maintenance of the enterprise.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54351.

54351. If the local agency acquires, constructs, or improves a sanitation or garbage removal or disposal system, it may require its inhabitants to use the facilities exclusively.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54352.

54352. If the local agency acquires, constructs, or improves a sewer system pursuant to this chapter, it may declare that the further maintenance or use of cesspools or other local means of sewage disposal constitutes a public nuisance. If the buildings are within a reasonable distance, but not more than two hundred feet, from connection with the sewer system, the local agency may require all buildings inhabited or used by human beings and in which any sewage is produced to be connected with the sewer system within the period prescribed by it, but not less than thirty days from the time when such a connection can be made, as may be prescribed by the local agency.
(Amended by Stats. 1949, Ch. 1492.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54353.

54353. As a remedy established for the collection of due and unpaid deposits and charges and the penalties thereon an action may be brought in the name of the local agency in any court of competent jurisdiction against the person or persons who occupied or, in the case of unoccupied property, who owned the property when the service was rendered or the deposit became due or against any person guaranteeing payment of bills, or against any or all of said persons, for the collection of the amount of the deposit or the collection of delinquent charges and all penalties thereon.
(Amended by Stats. 1970, Ch. 1174.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54354.

54354. A local agency that acquires, constructs, or improves a system, plant, works, facilities or undertaking for the collection, treatment, or disposal of sewage or for the obtaining, conserving, treating, and supplying of water, or for the collection, treatment, or disposal of storm water, including drainage, may declare in the resolution or ordinance prescribing or revising charges for the services or facilities furnished by the enterprise that delinquent charges and all penalties thereon when recorded as in this chapter provided shall constitute a lien upon the real property served. However, no lien shall be created against any publicly owned property. A lien shall continue until the charge and all penalties thereon are fully paid or the property sold.
(Amended by Stats. 1992, Ch. 1208, Sec. 3. Effective January 1, 1993.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54355.

54355. The lien provided by Section 54354 shall attach when the treasurer or other officer whose duty it is to collect the charge records a list of delinquent unpaid charges and penalties thereon with the county recorder, stating the amount of each charge and the penalty thereon, a description of the real property upon which the same is a lien and the name of the local agency to which the same is payable. Such lien shall have the same force, effect, priority and duration as to the property described as would the lien of an abstract of a judgment against the owner of the real property at the time such list is recorded and may be enforced in like manner. Property may be discharged from the lien within one year from the date of recording by the payment of all delinquent charges plus penalties. A list of all such delinquent charges shall be recorded at least every six months, but no delay or informality in recording the same shall invalidate the lien or any unpaid charge or any subsequent act or proceeding. If through error or otherwise the amount of any unpaid charge plus penalties thereon as stated in said list shall be incorrect, said error shall be disregarded and shall not affect or invalidate the filing if said error is one dollar ($1) or less.
(Amended by Stats. 1956, 1st Ex. Sess., Ch. 23.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54356.

54356. As a separate, distinct and cumulative remedy established for the collection of said charges and penalties thereon an action may be brought in the name of the local agency in any court of competent jurisdiction to enforce the lien of the charge and all penalties thereon. In such action a reasonable attorney’s fee shall be awarded plaintiff.
(Added by Stats. 1955, Ch. 602.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54357.

54357. Remedies for collecting and enforcing rates and charges set out in this chapter are cumulative and may be pursued alternately, or any thereof may be used consecutively when the legislative body so determines. If any one of said remedies is or may be invalid, all valid remedies shall remain effectual until the principal and interest of the bonds are fully paid. Any holder of any bond outstanding at any time may compel the use of any or all of the remedies herein provided. The costs of collection and enforcement of the remedies for the collection of charges may be paid from the revenues.
(Amended by Stats. 1956, 1st Ex. Sess., Ch. 23.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 2 - Powers of a Local Agency › Section 54358.

54358. The local agency may execute all instruments, perform all acts, and do all things necesssary or convenient in the exercise of the powers granted by this chapter or in the performance of its covenants or duties.
(Added by Stats. 1955, Ch. 602.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 3 - Authorization of Bonds › Section 54380.

54380. By resolution of its legislative body to take effect upon adoption, a local agency may submit to its qualified voters, at an election held for that purpose, the proposition of issuing bonds pursuant to this chapter to provide funds for the acquisition, construction, improving or financing of an enterprise, including any or all expenses incidental thereto or connected therewith or any combination of two or more of such purposes.
(Amended by Stats. 1949, Ch. 1492.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 3 - Authorization of Bonds › Section 54381.

54381. By a majority of all members, the legislative body may adopt the resolution at a regular or special meeting and at the same meeting at which it is introduced.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 3 - Authorization of Bonds › Section 54382.

54382. The resolution shall:
(a) State the purpose for which the bonds are proposed to be issued.
(b) State the estimated cost of the acquisition, construction, improvement and financing.
(c) State the principal amount of the bonds.
(d) State the maximum rate of interest on the bonds, which shall not exceed the maximum rate specified in Section 53531. That rate may be either fixed or variable, and shall be payable at the times and in the manner specified in the resolution.
(e) Fix the election date.
(f) Fix the manner of holding the election.
(g) Fix the manner of voting on the issuance of the bonds.
(h) State that in all other particulars the election shall be held and the votes canvassed pursuant to law for general municipal elections in such local agencies.
(Amended by Stats. 1990, Ch. 1130, Sec. 2.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 3 - Authorization of Bonds › Section 54383.

54383. The proposition may be submitted at an election for other propositions.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 3 - Authorization of Bonds › Section 54384.

54384. The resolution shall state that the bonds are to be revenue bonds, payable exclusively from the revenues of the enterprise and from such of the other funds referred to in Section 54478 as shall be specified in the resolution, and the resolution shall also state that the bonds are not to be secured by the taxing power of the local agency.
(Amended by Stats. 1953, Ch. 526.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 3 - Authorization of Bonds › Section 54385.

54385. The resolution shall be published once a day for at least seven days in a newspaper published at least six days a week in the local agency or published once a week for two succeeding weeks in a newspaper published less than six days a week in the local agency. If there are no such newspapers, the resolution shall be posted in three public places in the local agency for two succeeding weeks.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 3 - Authorization of Bonds › Section 54386.

54386. The votes of a majority of all the voters voting on the proposition are required to authorize the issuance of the bonds.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 3 - Authorization of Bonds › Section 54387.

54387. If the issuance of the bonds is authorized at the election, the legislative body shall provide for their issuance and sale by resolution to take effect upon adoption.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54400.

54400. The legislative body may determine and provide in the resolution for:
(a) The number of series in which the bonds are to be issued.
(b) The date the bonds are to bear.
(c) The maturity dates of the bonds, not exceeding forty years from their respective dates.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54401.

54401. If the legislative body divides any issue of bonds into series, it may prescribe, and state in the resolution, different dates for the bonds of each series. The maximum maturity date of each series shall be calculated from the date on the face of each bond separately.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54402.

54402. The legislative body may determine and provide in the resolution for:
(a) The issuance of any bonds or a series in the form of serial bonds or sinking fund bonds with serial or term maturities.
(b) The interest of the bonds either fixed or variable, the rate or rates, payable at the times and in the manner specified therein. Under no conditions may the annual fixed or variable interest rate exceed the maximum rate specified in Section 53531 of the Government Code.
(c) The denomination of the bonds.
(d) The form of the bonds, coupon, registered, or book entry.
(e) The registration and conversion privileges of the bonds.
(f) The manner in which the bonds are to be executed.
(g) The medium and place of payment.
(h) The terms of redemption, with or without a premium.
(Amended by Stats. 1990, Ch. 1130, Sec. 4.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54403.

54403. Any premium payable on the bonds shall be in the amount or amounts specified by the legislative body.
(Repealed and added by Stats. 1990, Ch. 1130, Sec. 6.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54404.

54404. The bonds are not subject to call or redemption prior to their fixed maturity date unless the right to exercise a call is expressly stated on the face of the bonds.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54405.

54405. The resolution may provide the terms and conditions upon which the bonds may be declared or become due and payable upon specified defaults.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54406.

54406. The resolution may provide for the replacement of mutilated, destroyed, stolen, or lost bonds.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54407.

54407. By resolution, the legislative body may provide the manner for authenticating the bonds and other terms to be contained in the bonds.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54408.

54408. Pending the preparation of the definitive bonds, interim receipts or temporary bonds, exchangeable for definitive bonds may be issued in the form and with the provisions the legislative body determines.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54409.

54409. In the absence of an express recital on its face that the bond or interim receipt is nonnegotiable, the bond or interim receipt is a negotiable instrument.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54410.

54410. In determining the amount of bonds to be issued, the legislative body may include:
(a) All costs and estimated costs incidental to or connected with the acquisition, construction, improving or financing of the enterprise.
(b) All engineering, inspection, legal and fiscal agent’s fees, costs of the bond election and of the issuance of said revenue bonds, bond reserve funds and working capital and bond interest estimated to accrue during the construction period and for a period of not to exceed twelve months after completion of construction.
(Amended by Stats. 1949, Ch. 1492.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54411.

54411. Bonds bearing the signature of officers of the local agency in office on the date of the signing are valid, notwithstanding that before delivery the persons signing have ceased to be officers.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54412.

54412. The validity of the authorization and issuance of the bonds is not affected by proceedings for the acquisition, construction, or improving of the enterprise or by contracts in connection therewith.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54413.

54413. Any resolution authorizing bonds may provide that the bonds may recite that it is issued pursuant to this chapter and bonds containing such recital are conclusively deemed valid and issued in conformity with this chapter.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54414.

54414. Reference on the face of the bonds to the resolution by its date of adoption incorporates the provisions of the resolution and of this chapter into the bonds and their coupons.
(Amended by Stats. 1953, Ch. 369.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54415.

54415. Each taker and subsequent holder of the bonds and attached or detached coupons has recourse to all of the provisions of the resolution and of this chapter and is bound by their terms.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54416.

54416. The legislative body may issue and sell the bonds in the manner it determines.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54417.

54417. The legislative body may sell the bonds in installments at different times or as an entire series of bonds at one time.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54418.

54418. The legislative body may sell the bonds at a price above or below par in a manner, at public or private sale, as it determines by resolution. If the legislative body decides to sell the bonds at private sale rather than public sale, the local agency shall send a written statement to the California Debt Advisory Commission, no later than two weeks after the sale of the bonds, explaining the reasons for that decision.
(Amended by Stats. 1990, Ch. 1130, Sec. 7.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54419.

54419. The sale price of all bonds sold shall include the interest accrued to the date of delivery of and payment for the bonds.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54420.

54420. The bonds are special obligations of the local agency and are secured by a pledge of and shall be a charge upon, and shall be payable, as to the principal thereof, interest thereon, and any premiums upon the redemption of any thereof, solely from and secured by a lien upon the gross revenues of the enterprise and such funds as are described in the resolution authorizing the issuance of the bonds.
(Amended by Stats. 1953, Ch. 526.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54421.

54421. By resolution the legislative body may pledge, place a charge upon, and assign all or any part of the gross revenues of the enterprise and of any and all funds referred to in Section 54478 for the security of the bonds. The gross revenues of the enterprise include revenues of improvements and extensions later constructed or acquired and revenues of existing systems, plants, works, or undertakings to be improved or extended or for the improvement or extension of which the bonds are to be issued.
(Amended by Stats. 1953, Ch. 526.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54422.

54422. The payment of interest on and principal of the bonds and any premiums upon the redemption of any thereof are secured by a pledge, charge, and lien upon the revenues of the enterprise and upon such other funds as shall be specified in the resolution authorizing the issuance of the bonds.
(Amended by Stats. 1990, Ch. 1130, Sec. 8.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54423.

54423. The revenues and any interest earned on the revenues and all other funds specified in the resolution authorizing the issuance of the bonds constitute a trust fund for the security and payment of the interest on and principal of the bonds.
(Amended by Stats. 1953, Ch. 526.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54424.

54424. So long as any bonds or interest thereon are unpaid the revenues and interest thereon shall not be used for any other purpose, except as provided in Sections 54425 and 54426.
(Amended by Stats. 1953, Ch. 526.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54425.

54425. If the interest and principal of the bonds and all charges to protect or secure them are paid when due an amount for the necessary and reasonable maintenance and operation costs of the enterprise, which costs include the reasonable expenses of management, repair and other expenses necessary to maintain and preserve the enterprise in good repair and working order, may be apportioned from the revenues, and subject to any limiting covenants in the resolution providing for the issuance of bonds, the remaining surplus may be used for any lawful purpose of the local agency.
(Amended by Stats. 1955, Ch. 395.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54426.

54426. In its discretion the legislative body may provide in the resolution providing for the issuance of the bonds that, the principal, interest, and sums for other security funds shall be paid from the revenues prior to paying the maintenance and operation costs of the enterprise.
(Amended by Stats. 1963, Ch. 1104.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54427.

54427. Bonds of the same issue shall be equally secured by a pledge, charge, and lien upon the revenues of the enterprise and all other funds specified in the resolution authorizing the issuance of the bonds, without priority for number, date of bonds, of sale, of execution, or of delivery pursuant to this chapter and the resolution authorizing the issuance of the bonds; except that any local agency may authorize the issuance of bonds of different series and may provide that the bonds in any series shall, to the extent and in the manner prescribed in the resolution, be subordinated and be junior in standing, with respect to the payment of principal and interest and the security thereof, to such other bonds as may be specified in the resolution.
(Amended by Stats. 1953, Ch. 526.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54428.

54428. The general fund of the local agency is not liable for the payment of the bonds or their interest.
(Added by Stats. 1949, Ch. 81.)
2023 California Code › Government Code - GOV › TITLE 5 - LOCAL AGENCIES › DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES › PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES › CHAPTER 6 - Revenue Bond Law of 1941 › ARTICLE 4 - Provisions Relating to Bonds › Section 54429.

54429. The credit or taxing power of the local agency is not pledged for the payment of the bonds or their interest.
(Added by Stats. 1949, Ch. 81.)