reglab/statecodes huggingface dataset:
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 1 - Issuance and Form › Section 52509.

52509. Refunding bonds may be in substantially the following form:
United States of America
State of California
County of ______
No. _____
$
Reclamation District No. ______
Reclamation District No. ____ for value received, hereby acknowledges itself indebted to and promises to pay to the holder hereof at the office of the treasurer of ____ County, in the State of California, on the ____ day of ____, 19__, the sum of $____ in lawful money of the United States of America, with interest thereon in like lawful money from the date hereof until paid at the rate of ____ percent per year, payable at the office of said treasurer on the first day of January, and the first day of July in each year on presentation and surrender of the interest coupons hereto attached. This bond is one of a series of refunding bonds of like tenor and effect, except as to denomination and maturity, numbered from ____ to ____ inclusive, amounting in the aggregate to the sum of ____ dollars ($____), issued in accordance with Division 15 of the Water Code of the State of California pursuant to an election held in said reclamation district on the ____ day of ____, 19__, authorizing their issuance, and are issued for the purpose of refunding ____ $____ of the principal amount of the bonds of this district dated the ____ day of ____, 19__, and outstanding on the ____ day of ____, 19__, and this bond is based upon and secured by an assessment levied on the lands in said district, and filed in the office of the county treasurer of said County of ____ on the ____ day of ____, and the said reclamation district does hereby certify and declare that said election was duly called and held upon due notice, and the result thereof was duly canvassed and ascertained, in pursuance of and in strict conformity with the laws of the State of California applicable thereto, and that all of the acts and conditions and things required by law to be done, precedent to and in the issue of said bonds have been done and have been performed in regular and in due form and in strict accordance with the provisions of the law authorizing the issuance of reclamation bonds.
This bond is one of the bonds issued to refund $____ principal amount of bonds of this district numbered ____ dated the said ____ day of ____, 19__, and maturing ____, 19__.
In testimony whereof, the said district, by its board of trustees, has caused this bond to be signed by the president of said board and attested by the auditor of said County of ____ with his seal of office affixed this ____ day of ____, 19__.
President of said board
Attest:
Auditor of the County of , State of California.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 1 - Issuance and Form › Section 52510.

52510. The interest coupons may be substantially in the following form:
No. ________
$ _______
The county treasurer of ____ County, California, will pay to the holder hereof on the ____ day of ____, 19___, at his office in the County of ____ the sum of $____ in lawful money of the United States out of the funds of Reclamation District No. ____ for interest on refunding bond of said district, No. ___.
County Auditor
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 2 - Exchange › Section 52530.

52530. The board, with the consent of the holders of any or all of the outstanding bonds to be refunded, may direct the county treasurer to deliver to such holders at any time, in exchange therefor, refunding bonds issued pursuant to this chapter, having maturities agreed upon by the board and the holders of the bonds to be refunded.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 2 - Exchange › Section 52531.

52531. The aggregate principal amount of the refunding bonds delivered to bond holders shall not exceed the aggregate principal amount of the bonds exchanged therefor.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 2 - Exchange › Section 52532.

52532. The bonds delivered to the district in exchange for refunding bonds shall be immediately canceled by the county treasurer.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 2 - Exchange › Section 52533.

52533. The outstanding bonds may be refunded pursuant to this article with the consent of the holders thereof at any time before or after their final maturity date.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 3 - Sale › Section 52550.

52550. The board, in lieu of exchanging refunding bonds for outstanding bonds, may declare by resolution that it will be for the best interests of the district to sell all or any specific portion of the refunding bonds.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 3 - Sale › Section 52551.

52551. The board, having adopted a resolution of sale, may declare by resolution, on or before the February 1st or the August 1st prior to the date of maturity of the outstanding bonds next maturing and to be refunded, either in whole or in part, that any portion of the refunding bonds available for the refunding of the outstanding bonds next maturing shall be sold.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 3 - Sale › Section 52552.

52552. The resolution shall direct the county treasurer to sell the refunding bonds on a date not less than five days, nor more than 10 days, prior to the April 1st or October 1st prior to the maturity of the bonds to be refunded, and shall declare whether the refunding bonds may be sold for less than the face value thereof, plus accrued interest. In no event shall refunding bonds be sold for less than 90 percent of their face value plus accrued interest.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 3 - Sale › Section 52553.

52553. The refunding bonds shall be sold by the county treasurer in the manner provided in Article 3, Chapter 1 of this part for the sale of bonds and refunding bonds.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 3 - Sale › Section 52554.

52554. A sale by the county treasurer is conclusive evidence in favor of the purchaser and all subsequent holders of the refunding bonds that the sale was made upon due authority and notice.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 3 - Sale › Section 52555.

52555. Refunding bonds which are not sold when offered for sale may again be offered for sale from time to time prior to their fixed maturity, or may be exchanged for outstanding bonds as provided in this chapter.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 3 - Sale › Section 52556.

52556. The proceeds of the sale of refunding bonds shall be placed in the county treasury to the credit of the bond fund, and used only in payment of the principal of the outstanding bonds to be refunded by the refunding bonds so sold.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 3 - Sale › Section 52557.

52557. The board shall sell or exchange refunding bonds only of such maturities as have been declared in the notice of election for the issuance of refunding bonds to be available for the refunding of particular maturities of the district’s outstanding bonds.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 3 - Sale › Section 52558.

52558. If any district authorized the issuance of refunding bonds prior to August 14, 1929, and the same or any part thereof are unsold, the board may call an election in the manner and upon the notice prescribed for the issuance of refunding bonds, at which election there shall be submitted the question of whether such refunding bonds of any maturity shall be sold or exchanged to refund any maturity of outstanding bonds of the district as the board shall determine, or as may otherwise be specified in the notice of such election.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 3 - Sale › Section 52559.

52559. If the board, in its resolution, determines that the refunding bonds may be sold for an amount less than their aggregate par value, and that it is necessary or advisable that an amount be made available for the payment of interest upon the refunding bonds from the date of the sale thereof to the date of maturity of the bonds to be refunded out of the proceeds of the sale, the resolution of sale shall direct that a warrant be forthwith drawn against the general or maintenance fund of the district in favor of the county treasurer as trustee of the bond fund and delivered to the county treasurer.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 3 - Sale › Section 52560.

52560. The warrant shall be drawn for an amount equal to the sum of:
(a) The excess of the par value of the refunding bonds directed to be sold over the amount for which the board has determined the refunding bonds may be sold, which shall not in any event, exceed 10 percent of the par value of the refunding bonds directed to be sold.
(b) An amount sufficient to pay interest at the rate provided in the refunding bonds from the date of sale thereof to the date of the maturity of the bonds to be refunded out of the proceeds of the sale.
Items (a) and (b) are incidental expenses of the district as defined in Section 51336.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 3 - Sale › Section 52561.

52561. When the warrant has been drawn, there shall be included in the next succeeding assessment call levied for maintenance purposes, an amount equal to that of the warrant, and that amount shall be assessed against the several parcels in the same proportion as the original assessment, or any subsequent reapportionments thereof, which secures the payment of the refunding bonds, and, when collected, shall be placed to the credit of the maintenance fund, in reimbursement of that fund.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 4 - Collection and Disposition of Supplemental Assessment › Section 52580.

52580. The board, in lieu of drawing a warrant pursuant to Section 52560 may raise the amounts indicated in that section by a supplemental assessment levied as provided in Part 7, Chapter 2, Article 6 of this division, in which event the warrant shall be drawn against the fund created by the supplemental assessment.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 4 - Collection and Disposition of Supplemental Assessment › Section 52581.

52581. If the landowners in a district voluntarily pay to the county treasurer, on the call of the board the amount required to be made available by reason of the sale of the refunding bonds at less than par, no supplemental assessment shall be levied.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 4 - Collection and Disposition of Supplemental Assessment › Section 52582.

52582. If a sale of the refunding bonds is consummated by payment of the purchase price and the delivery of the bonds, the board shall enforce payment of delinquencies in the supplemental assessment in the manner set forth as provided in Chapters 3 and 4 of Part 7 of this division.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 4 - Collection and Disposition of Supplemental Assessment › Section 52583.

52583. The county treasurer shall use the proceeds of the supplemental assessment or of the warrant delivered to him pursuant to Section 52559, as the case may be, for the following purposes:
(a) The payment of any amount by which the total amount necessary to pay the principal and accrued interest on the bonds next maturing exceeds the proceeds from the sale of the refunding bonds, exclusive of accrued interest.
(b) The payment to the purchaser of the refunding bonds at the time he takes delivery thereof, of interest at the rate provided in the refunding bonds from the date the sale is completed by the payment of the purchase price until the date when, pursuant to the terms of the refunding bonds and the coupons thereto attached, interest thereon shall begin to accrue.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 4 - Collection and Disposition of Supplemental Assessment › Section 52584.

52584. Any surplus in the supplemental assessment fund after the principal and interest on the bonds next maturing are paid in full shall be refunded by the county treasurer to the persons who have paid the supplemental assessment, in proportion to the amounts they paid.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 5 - Cancellation › Section 52600.

52600. Refunding bonds remaining in the hands of the county treasurer after the outstanding bonds to be refunded thereby are discharged, shall be forthwith canceled by the county treasurer and shall never be an obligation of the district.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 5 - Cancellation › Section 52601.

52601. If, upon the expiration of one year after an issue of refunding bonds, heretofore or hereafter issued was deposited with the county treasurer, all or part of the refunding bonds are unsold or unexchanged, the board, by an order entered in its minutes, may cancel all proceedings taken in connection with the unsold or unexchanged refunding bonds as provided in Article 5, Chapter 2 of this part.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 3 - General Refunding Bonds › ARTICLE 5 - Cancellation › Section 52602.

52602. The cancellation will not affect the validity of the assessment upon which the bonds are based, nor the validity of any bonds previously sold or exchanged, or previously issued on the assessment.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 1 - Issuance and Forms › Section 52700.

52700. The board may cause refunding bonds to be issued as provided in this chapter for the purpose of refunding any outstanding bonds, including original issues and refunding issues.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 1 - Issuance and Forms › Section 52701.

52701. Refunding bonds issued pursuant to this chapter shall be issued in substantially the manner prescribed by Chapter 3 of this part for the issuance of refunding bonds, except as otherwise provided herein, and the provisions thereof concerning the authorization, issuance, exchange and sale of refunding bonds issued pursuant thereto shall be applicable to refunding bonds issued pursuant to this chapter.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 1 - Issuance and Forms › Section 52703.

52703. The board shall call and conduct an election of the landowners in the manner provided in Chapter 3 (commencing with Section 50800) of Part 4 of this division for the purpose of authorizing the issuance of the refunding bonds.
(Amended by Stats. 1992, Ch. 1020, Sec. 131. Effective January 1, 1993.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 1 - Issuance and Forms › Section 52704.

52704. Prior to the issuance of any refunding bonds pursuant to this chapter the board shall file with the county treasurer a copy of the refunding plan and a certified copy of the order of the board providing for the issuance of the refunding bonds.
(Amended by Stats. 1992, Ch. 1020, Sec. 132. Effective January 1, 1993.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 1 - Issuance and Forms › Section 52706.

52706. The interest coupons to be attached to the refunding bonds may be in substantially the following form:
No.
$
The County Treasurer of ____ County, California, will pay to the holder hereof on the ____ day of ____, 19_, (unless before that date the within bond is called for redemption, and payment hereof provided for, in the manner set forth in the refunding plan referred to in said bond), at his office in the County of ____, the sum of $____ in lawful money of the United States out of funds of Reclamation District No. ____, for interest due on said date on refunding bond of said district, No. ____.
County Auditor.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 1 - Issuance and Forms › Section 52707.

52707. An action to determine the validity of refunding bonds may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure.
(Amended by Stats. 1961, Ch. 1544.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 1 - Issuance and Forms › Section 52709.

52709. Refunding bonds issued pursuant to this chapter may be sold from time to time in the same manner as other bonds of the district, or may be exchanged for other bonds of the district.
(Amended by Stats. 1992, Ch. 1020, Sec. 133. Effective January 1, 1993.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 1 - Issuance and Forms › Section 52710.

52710. The outstanding bonds refunded or exchanged shall be immediately canceled by the county treasurer.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 1 - Issuance and Forms › Section 52711.

52711. The maturity of the refunding bonds issued pursuant to this chapter and the rate of interest thereon shall be fixed by the board, but in no case shall the maturity of any of the refunding bonds exceed 50 years nor the rate of interest exceed 8 percent per year, payable semiannually.
(Amended by Stats. 1975, Ch. 130.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 1 - Issuance and Forms › Section 52712.

52712. An issue of refunding bonds issued pursuant to this chapter shall be based upon and payable out of the assessment from which the bonds to be refunded were payable, and shall mature at one time.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 1 - Issuance and Forms › Section 52713.

52713. The board may make expenditures, or incur indebtedness, and issue warrants therefor to pay the cost and expenses incident to any refunding plan or in connection with the refunding of its bonds.
(Amended by Stats. 1992, Ch. 1020, Sec. 134. Effective January 1, 1993.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 1 - Issuance and Forms › Section 52714.

52714. The authority to issue refunding bonds pursuant to this chapter is in addition to the authority granted by Chapter 3 of this part, and nothing in this chapter shall be deemed to amend or modify Chapter 3 of this part or be applicable to refunding bonds issued under the provisions thereof, except that the procedure specified in that chapter, insofar as it is adopted herein, is a part hereof, it being the intent of the Legislature to provide an alternative method of issuing refunding bonds.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 2 - Sinking Fund › Section 52730.

52730. The board, prior to, or at the time of, issuance of the refunding bonds under this chapter, shall provide for the creation of an annual sinking fund for the payment of the refunding bonds in amounts determined by the board.
(Amended by Stats. 1992, Ch. 1020, Sec. 135. Effective January 1, 1993.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 2 - Sinking Fund › Section 52731.

52731. The county treasurer, at least 90 days before the first day of January in each year during which the refunding bonds are outstanding, shall levy and collect a call against the assessment securing the payment of the principal and interest of the refunding bonds, in addition to all other calls required by law to be made, sufficient to provide the amounts of such sinking fund payments for the then current year.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 2 - Sinking Fund › Section 52732.

52732. Ninety days, or more, before the first day of January in any year, the board may modify the amount of the sinking fund payment. The board shall forthwith mail the county treasurer a copy of the board’s order approving the modification of the sinking fund payment. The order shall state specifically the amount to be called by the county treasurer if the amount is less than that stated in the sinking fund schedule.
(Amended by Stats. 1992, Ch. 1020, Sec. 136. Effective January 1, 1993.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 2 - Sinking Fund › Section 52735.

52735. In any year in which the district has surplus funds from other sources available for the sinking fund payment and has deposited such funds in the sinking fund the call of assessment for sinking fund purposes for that year shall be limited to any amount by which the amount of the sinking fund payment exceeds the amount of surplus funds so deposited.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 2 - Sinking Fund › Section 52736.

52736. The board may invest the money in the sinking fund in bonds of the United States or of the State of California, and hold the bonds so purchased, and the income therefrom, as part of the sinking fund until such time as the board determines that it is for the best interests of the district that all or part of such bonds be sold.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 2 - Sinking Fund › Section 52737.

52737. The proceeds of sale of any bonds in which any part of the sinking fund is invested shall be deposited in the sinking fund.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 3 - Redemption › Section 52750.

52750. When the sinking fund contains at least ten thousand dollars ($10,000), the county treasurer shall, upon request of the board, by notice published once a week for two successive weeks in some newspaper published in the county where the office of the district is located and, in its discretion, in any other newspaper, invite sealed proposals for the sale to the district of any of its outstanding bonds or refunding bonds secured by the assessment out of which the sinking fund was created.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 3 - Redemption › Section 52751.

52751. The notice shall state the amount available for the redemption of bonds or refunding bonds and shall specify when and where the proposals will be opened.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 3 - Redemption › Section 52752.

52752. All proposals shall be opened at the office of the county treasurer at an open meeting of the board convened at the time specified in the notice or at some subsequent time to which the meeting is adjourned.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 3 - Redemption › Section 52753.

52753. Any or all proposals may be rejected by the county treasurer, and shall be rejected by him if requested to do so in writing by a majority of the board.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 3 - Redemption › Section 52754.

52754. If no bids are received, or if the bids accepted are not sufficient to exhaust the money available for the purchase of outstanding bonds or refunding bonds, the county treasurer may, with the written assent of at least two members of the board, purchase at private sale with available money in the sinking fund, any of the refunding bonds for the payment of which the sinking fund was created.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 3 - Redemption › Section 52755.

52755. No proposal to sell bonds to the district at a price in excess of the par value thereof shall be accepted.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 3 - Redemption › Section 52756.

52756. All bonds purchased with sinking fund moneys shall forthwith be canceled.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 3 - Redemption › Section 52757.

52757. The board may, by resolution adopted prior to the time of issuing any refunding bonds, provide for the call and redemption thereof, in numerical order, or by lot, as prescribed in the resolution, on any interest payment date prior to their fixed maturity, at not exceeding the par value thereof and accrued interest, in which event a statement to that effect shall appear on the face of the refunding bond.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 3 - Redemption › Section 52758.

52758. Notice of redemption of callable refunding bonds shall be published once a week for three successive weeks in a newspaper of general circulation printed and published in the principal county.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 3 - Redemption › Section 52759.

52759. The first publication of the notice shall be not less than 30 days nor more than 90 days prior to the date fixed in the refunding bonds for the redemption.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 4 - Alternate Method for Refunding Bonds › ARTICLE 3 - Redemption › Section 52760.

52760. Interest on refunding bonds declared to be callable shall cease after the date fixed for redemption if the district has provided funds for the payment of the principal and interest thereof.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States › Section 52850.

52850. When there is an agreement between a district and the United States of America, or any department or agency thereof, which provides for the issuance of refunding bonds of the district aggregating in principal amount a sum less than the principal amount of the bonds to be refunded and for the creation of a reserve fund to pay installments of principal or interest of the refunding bonds when the amount in the bond fund is insufficient to pay the installments, and when the unpaid principal amount of the assessment securing the bonds to be refunded is, or upon the carrying out of the plan for refunding provided in the agreement will be, in excess of the principal amount of bonds secured by the assessment, the board may declare by resolution that all or part of the excess of the assessment shall be called from time to time for the purpose of creating a reserve fund.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States › Section 52851.

52851. The money in the reserve fund shall be used to pay the installments of principal and interest of any outstanding bonds secured by the assessment when the amount in the bond fund is insufficient to meet such installments on any January 1st or July 1st, as the case may be.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States › Section 52852.

52852. If the bond fund contains a sum derived from an assessment securing the bonds to be refunded pursuant to the agreement which is in excess of the amount required to pay all installments of principal and interest due or to become due within six months upon all outstanding bonds secured by the assessment, the board may by resolution direct that the excess, or such part thereof as they deem advisable, be set apart for the purpose of creating a reserve fund.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States › Section 52853.

52853. The county treasurer shall call such part of the principal of the assessment securing the refunding bonds, not exceeding the amount by which the unpaid principal amount of the assessment exceeds the principal amount of bonds secured thereby, as is necessary to restore the amount of depletion of the reserve fund caused by authorized payments therefrom.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States › Section 52854.

52854. The call shall be made at the time prescribed by Section 51420 for making the next call for the payment of principal or interest of the bonds after the reserve fund has been depleted.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States › Section 52855.

52855. The board may direct that the restoration of the reserve fund be effected over a period not exceeding three years next after the reserve fund was depleted, in which case not less than one-third of the amount of the depletion shall be restored during each of the three years.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States › Section 52856.

52856. No call for the purpose of creating a reserve fund shall be made until the United States, or department or agency thereof, has accepted 50 percent or more of the refunding bonds proposed to be issued under the plan.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States › Section 52857.

52857. The county treasurer may invest any money in the reserve fund in bonds of the United States or of the State of California, and bonds so purchased and held in the reserve fund may be sold by the county treasurer and the proceeds temporarily reinvested in such bonds.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States › Section 52858.

52858. Sales of bonds of the United States or of the State of California purchased with reserve fund money shall be made by the county treasurer in sufficient time that the proceeds may be applied to the purposes for which the reserve fund was created.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States › Section 52859.

52859. The board of a district which has entered into an agreement pursuant to Section 52850, may, by resolution, direct that any money on deposit in the county treasury to the credit of any bond fund or bond reserve fund of the district, which was derived from an assessment against district lands securing said bonds and which is in excess of the amount required to pay principal and interest then due or to become due within six months thereafter upon bonds secured by the assessment, be applied to either or both of the following purposes:
(a) The purchase of bonds secured by the assessment.
(b) Deposit with the Federal Reserve Bank in San Francisco, California, subject to withdrawal therefrom only upon written orders of the district and the United States of America, or the department or agency thereof, including Reconstruction Finance Corporation, interested in the creation and maintenance of the fund, or by the district with the written consent of the United States of America, or the department or agency thereof, including Reconstruction Finance Corporation, interested in the creation and maintenance of the reserve fund.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States › Section 52860.

52860. The county treasurer shall forthwith cancel all bonds purchased pursuant to subsection (a) of Section 52859.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States › Section 52861.

52861. No purchase of bonds shall be made pursuant to subdivision (a) of Section 52859 unless the unpaid principal amount of the assessment securing such bonds is in excess of the principal amount of outstanding and authorized bonds secured by such assessment.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 8 - BONDS AND REFUNDING BONDS › CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States › Section 52862.

52862. No funds deposited pursuant to subdivision (b) of Section 52859 may be withdrawn except to pay the principal or interests upon any bonds of the district held by Reconstruction Finance Corporation, or its successors in interest, or for repayment to the treasurer of the district for the purposes and uses of the district.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 9 - WARRANTS › CHAPTER 1 - Issuance, Registration and Payment › ARTICLE 1 - General Provisions › Section 53000.

53000. The board may issue warrants drawn on the appropriate funds of the district to pay indebtedness of the district incurred in carrying out the works of reclamation and to raise money in anticipation of the collection of operation and maintenance assessment levies.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 9 - WARRANTS › CHAPTER 1 - Issuance, Registration and Payment › ARTICLE 1 - General Provisions › Section 53001.

53001. The board may draw demand warrants or time warrants, subject to the provisions of this part.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 9 - WARRANTS › CHAPTER 1 - Issuance, Registration and Payment › ARTICLE 1 - General Provisions › Section 53002.

53002. Demand warrants are warrants, drawn for any purpose, which are payable upon demand.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 9 - WARRANTS › CHAPTER 1 - Issuance, Registration and Payment › ARTICLE 1 - General Provisions › Section 53003.

53003. Time warrants are warrants, based upon an operation and maintenance assessment, payable at a specified future date expressed in the warrant.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 9 - WARRANTS › CHAPTER 1 - Issuance, Registration and Payment › ARTICLE 1 - General Provisions › Section 53004.

53004. The date of a warrant is the date inserted as such on the face of the warrant.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 9 - WARRANTS › CHAPTER 1 - Issuance, Registration and Payment › ARTICLE 2 - Demand Warrants › Section 53020.

53020. Demand warrants may be in substantially the following form:
Face
No. ________
$ ________
Office of the Board of Trustees of
Reclamation District No. _________
The Treasurer of ____ County will pay to the order of ____ out of Reclamation District No. ____ fund the sum of ____ dollars ($____) for ____ allowed by the board of trustees of said Reclamation District No. ____.
Dated _____, 19__.
Trustees
Attest:
Secretary
Reverse
When registered this warrant bears interest at the rate of __ percent per year, computed from the date of registration hereof.
This warrant will outlaw and cannot legally be paid four years after date, unless it is payable by its terms at a future date.
Pay to ____ or order ____.
Presented for payment but not paid for want of funds, this ____ day of ____, 19__.
Treasurer of ________ County
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 9 - WARRANTS › CHAPTER 1 - Issuance, Registration and Payment › ARTICLE 2 - Demand Warrants › Section 53021.

53021. Demand warrants shall be presented to the county treasurer, and, if not paid on presentation, shall be registered and an endorsement of nonpayment made thereon.
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 9 - WARRANTS › CHAPTER 1 - Issuance, Registration and Payment › ARTICLE 2 - Demand Warrants › Section 53022.

53022. Demand warrants not paid on presentation shall bear interest from date of registration at the rate adopted by the board, pursuant to Section 53300.
(Amended by Stats. 1983, Ch. 1109, Sec. 3. Effective September 28, 1983.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 9 - WARRANTS › CHAPTER 1 - Issuance, Registration and Payment › ARTICLE 2 - Demand Warrants › Section 53023.

53023. Demand warrants registered for nonpayment shall be paid by the county treasurer either in the order of registration or in the order agreed to, in writing, by all of the holders of the district’s outstanding demand warrants, if the county treasurer approves the agreement.
(Amended by Stats. 1983, Ch. 1109, Sec. 4. Effective September 28, 1983.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 9 - WARRANTS › CHAPTER 1 - Issuance, Registration and Payment › ARTICLE 3 - Time Warrants › Section 53040.

53040. When the board has filed an operation and maintenance assessment roll in the office of the county treasurer, and has directed an assessment levied against that roll to be paid in annual installments, it may issue and sell, or otherwise dispose of, time warrants based upon, and in anticipation of, the collection of such assessment levy, to pay the expenses for the payment of which the assessment was levied on a cash basis, or for the purpose of paying any outstanding warrants payable from such assessment levy. The period over which annual installments of the assessment shall be paid shall not exceed five years or the maturity of time warrants issued pursuant to Section 53042.5.
(Amended by Stats. 1979, Ch. 140.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 9 - WARRANTS › CHAPTER 1 - Issuance, Registration and Payment › ARTICLE 3 - Time Warrants › Section 53041.

53041. Time warrants may be in substantially the following form:
Face
No. ________
_____
$________
Office of the Board of Trustees of
Reclamation District No. ____.
______, California
The Treasurer of ____ County will, on the ____ day of ____, 19__, pay to the order of ____ out of Reclamation District No. ____ maintenance fund, the sum of ____ dollars ($____), together with interest on said sum from date of registration of this warrant in the office of the county treasurer until paid at the rate of __ percent per year, the interest payable on January 1st and July 1st of each year until this warrant is paid in full, upon the presentation of this warrant to said county treasurer.
This warrant is one of a series of warrants aggregating in face amount ____ dollars ($____) all issued by the above-named reclamation district, and payable out of the proceeds of levies made by the board of trustees of said district by order entered on the minutes of said board on the ____ day of ____, 19__, against an operation and maintenance assessment filed in the office of the treasurer of the above-named county on the ____ day of ____, 19__. This warrant and each of the warrants of said series are payable exclusively from the proceeds of said levies when collected.
Dated this ____ day of ____, 19__.
_____
_____
_____
_____
Trustees
Attest:
_____
_____
Secretary
_____
Reverse
Registered this ____ day of ____, 19__.
________ Treasurer of ____ County
This warrant will outlaw four years after it matures and cannot thereafter be legally paid unless extended by order of the board of trustees on or before maturity.
Interest Endorsements
Date Due
Date Paid
Amount Paid
Transfer Endorsements
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 9 - WARRANTS › CHAPTER 1 - Issuance, Registration and Payment › ARTICLE 3 - Time Warrants › Section 53042.

53042. The time warrants which may be issued to mature in any year shall not exceed the amount of the assessment installment payable in such year, and the principal amount of time warrants which is outstanding at any time shall not exceed an amount determined by multiplying the number of acres within the district by five dollars ($5).
(Added by Stats. 1951, Ch. 336.)
2023 California Code › Water Code - WAT › DIVISION 15 - RECLAMATION DISTRICTS › PART 9 - WARRANTS › CHAPTER 1 - Issuance, Registration and Payment › ARTICLE 3 - Time Warrants › Section 53042.5.

53042.5. Time warrants may be issued for more than the amount set forth in Section 53042 and with a maturity longer than five years, provided that a special election is held pursuant to Chapter 3 (commencing with Section 50800) of Part 4 of this division, at which election the principal amount and maturity of such warrants and the purpose for which they are issued are approved by a majority of the votes cast.
(Added by Stats. 1978, Ch. 1108.)