reglab/statecodes huggingface dataset:
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 12 - REDEMPTION FUND DEFICIENCIES › Section 8771.

8771. On receipt of the report, the legislative body shall fix a date for hearing thereon. The clerk shall give notice of the hearing by posting for 10 days. At the hearing the legislative body shall determine whether in its judgment there will ultimately be insufficient money in the redemption fund to discharge the unpaid bonds and interest. If it determines that in its judgment there will be no such shortage, it shall direct the treasurer to pay matured bonds and interest as long as there is available money in the redemption fund.
(Amended by Stats. 1985, Ch. 65, Sec. 24. Effective June 6, 1985.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 12 - REDEMPTION FUND DEFICIENCIES › Section 8772.

8772. If the legislative body determines that in its judgment there will be a shortage in the redemption fund, it shall direct the treasurer to pay to the holders of all outstanding and unpaid bonds such proportion thereof as the amount of funds on hand bears to the total amount of the unpaid principal of the bonds and the interest which has accrued or will accrue thereon. Similar proportionate payments shall thereafter be made periodically as moneys come into the redemption fund.
(Amended by Stats. 1985, Ch. 65, Sec. 25. Effective June 6, 1985.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 12 - REDEMPTION FUND DEFICIENCIES › Section 8773.

8773. In order to facilitate the making of proportionate payments, the holders of outstanding bonds shall surrender them to the treasurer for registration and cancellation. Upon cancellation each holder shall be credited with the amount of his bond so canceled. Thereupon the treasurer shall by warrant pay to each holder the proportionate amount of principal and accrued interest due on his or her bonds as may be available from time to time out of the money in the redemption fund. Interest shall cease on payments made on account of principal from the date of payment, but interest shall continue to run on the unpaid principal at the rate specified in the bonds until payment thereof be made. No premiums shall be paid on payments made in advance of the due date. If bonds are not surrendered for registration and payment the treasurer shall give notice to the holder thereof by registered mail, at the holder’s address as last known to the treasurer, of the amount available for payment. Thereupon interest shall cease as to the amount so available for payment 10 days from the date of mailing of the notice.
(Amended by Stats. 1993, Ch. 194, Sec. 20. Effective January 1, 1994.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 12 - REDEMPTION FUND DEFICIENCIES › Section 8774.

8774. The legislative body may hold supplemental hearings on like notice and such other and supplemental orders may be made from time to time as may be equitable and proper.
(Added by Stats. 1941, Ch. 79.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 12 - REDEMPTION FUND DEFICIENCIES › Section 8775.

8775. If a deficiency occurs in the redemption fund with which to pay past due bonds, past due interest, or bonds or interest which will become due during the current tax collecting year, but it does not appear to the treasurer that there will be an ultimate loss to the bondholders, he shall pay matured bonds as presented and make interest payments when due as long as there are available funds in the redemption fund, in the following order of priority:
(1) All matured interest payments shall be made before the principal of any bonds is paid.
(2) Interest on bonds of earlier maturity shall be paid before interest on bonds of later maturity.
(3) Within a single maturity, interest on lower-numbered bonds shall be paid before interest on higher-numbered bonds.
(4) The principal of bonds shall be paid in the order in which the bonds are presented for payment. Any bond which is presented but not paid shall be assigned a serial number according to the order of presentment and shall be returned to the bondholder.
Bonds not paid when presented, and interest payments not paid when due, shall bear interest at the rate stated in the bonds, without compounding, until paid.
(Amended by Stats. 1985, Ch. 65, Sec. 27. Effective June 6, 1985.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 12 - REDEMPTION FUND DEFICIENCIES › Section 8776.

8776. When funds become available for the payment of any bond which was not paid upon presentment, the treasurer shall notify the registered owner thereof by registered mail to present the bond for payment. If the bond is not presented for payment within 10 days after the mailing of the notice, interest shall cease to run on the bond.
(Amended by Stats. 1985, Ch. 65, Sec. 28. Effective June 6, 1985.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 12 - REDEMPTION FUND DEFICIENCIES › Section 8778.

8778. If a deficiency remains in the redemption fund after one year from the issuance of the bonds, the legislative body may require all persons interested to appear before it at a day, hour and place fixed by it for a hearing and to show cause why a supplemental assessment should not be made to pay for the cost and incidental expenses of the original work done upon which the original assessments were made upon which the bonds were issued.
(Added by Stats. 1941, Ch. 79.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 12 - REDEMPTION FUND DEFICIENCIES › Section 8779.

8779. Notice of the hearing shall be given by publication, and shall also be posted by the street superintendent in the same manner as provided by the law pursuant to which the work was done for the posting of notices of the passage of the resolution of intention. The first publication of the notice and the posting shall be completed 10 days before the time fixed for the hearing.
(Added by Stats. 1941, Ch. 79.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 12 - REDEMPTION FUND DEFICIENCIES › Section 8780.

8780. At the time set for the hearing the legislative body shall proceed to hear any person appearing and may determine whether or not such deficiency was due to the fact that the original assessment for such cost and incidental expenses was not apportioned equitably or in accordance with benefits. The hearing may be postponed from time to time. If it appears to the legislative body that the amount apportioned to any lot was less than the amount which such lot should equitably bear according to the benefit which it received from the improvement, the legislative body may levy a supplemental assessment apportioning to such lot the additional sums which it should equitably bear according to such benefits.
(Added by Stats. 1941, Ch. 79.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 12 - REDEMPTION FUND DEFICIENCIES › Section 8781.

8781. The cost of the publication and posting of the notice and of making the supplemental assessment may be included in the supplemental assessment. A copy of the order levying the supplemental assessment shall be recorded in the office of the street superintendent and from and after such recording, the sum therein levied on any lot shall be and constitute a lien thereon and thereafter bear interest at the rate specified in the bonds. The several amounts levied by the supplemental assessment shall be extended on the next succeeding tax rolls to be delivered to the tax collector and shall be collected in the manner provided for the collection of installments of the original assessments.
(Added by Stats. 1941, Ch. 79.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 12 - REDEMPTION FUND DEFICIENCIES › Section 8782.

8782. The legislative body may provide in its order levying the supplemental assessment that the supplemental assessments may be collected in annual installments during the remaining term of years during which the bonds run, an equal proportion of principal coming due in each of the remaining years. However, any property owner may pay the whole of the supplemental assessment subsequent to the order of the legislative body and before the amount has been extended on the tax roll, whereupon interest shall cease on such assessment.
(Added by Stats. 1941, Ch. 79.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 12 - REDEMPTION FUND DEFICIENCIES › Section 8783.

8783. All money collected on the supplemental assessment shall be paid into the redemption fund and be applied to the payment of the costs of publishing and posting the notice of hearing and of making the supplemental assessment and then to the payment of the bonds and interest thereon. After satisfaction of the bonds, repayment, if possible, of all funds collected on the supplemental assessment shall be made to those persons paying the same out of recoveries had through the collection of the delinquent installments of the assessments upon which the bonds were originally issued and of the interest and penalties thereon, and then out of any surplus remaining in the redemption fund after repayment to the city of any special taxes levied by it for the purpose of advancing funds under Part 13 (commencing with Section 8800) less its recovery on the sale or redemption of the properties assessed and any costs incurred by it under this division.
(Amended by Stats. 1993, Ch. 194, Sec. 21. Effective January 1, 1994.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 12 - REDEMPTION FUND DEFICIENCIES › Section 8784.

8784. If there is a surplus remaining in the redemption fund after payment of all bonds and the interest thereon, that surplus shall first be applied to repayment to the city of any special taxes levied by it for the purpose of advancing funds under Part 13 (commencing with Section 8800) less its recovery on the sale or redemption of the properties assessed, and also of any costs incurred by it under this division. The remainder shall be repaid in accordance with the provisions of Section 8783 to persons paying supplemental assessments, if any, and the balance may be proportionately credited upon the final installments due upon the assessments securing the bonds and repaid to those persons whose assessments have been previously paid or may be transferred to the general fund of the city.
(Amended by Stats. 1993, Ch. 194, Sec. 22. Effective January 1, 1994.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 13 - SALE FOR DELINQUENCY › Section 8800.

8800. Upon default in the payment of any installment of principal or interest on any assessment or reassessment, the lands securing those installments and assessments shall become tax-defaulted in the same manner in which real property in the city becomes tax-defaulted for the nonpayment of general city taxes, and shall be subject to redemption in the same manner and to the same extent that real property in the city which has become tax-defaulted for the nonpayment of general city taxes may be redeemed.
(Amended by Stats. 1993, Ch. 194, Sec. 23. Effective January 1, 1994.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 13 - SALE FOR DELINQUENCY › Section 8801.

8801. If any lot or parcel of land becomes tax-defaulted property for nonpayment of taxes and of any installment of the assessment thereon, or of the penalties, interest, or costs on the same, or for the nonpayment of any installment of the assessment or of the penalties, interest, or costs on the same, the declaration of default pursuant to Section 3436 of the Revenue and Taxation Code and the deed issued pursuant to Section 3708 of that code, are primary evidence of the regularity of all proceedings had prior thereto, and shall be conclusive evidence of all things of which bonds issued upon the security thereof are conclusive evidence, and prima facie evidence of the regularity of all proceedings subsequent to the issuance of the bonds, and the deed conveys to the grantee the absolute title to the lands described therein, free of all incumbrances, except the lien for other state, county, and city taxes, unpaid installments, interest, and penalties under the same proceeding, and unpaid installments, interest, and penalties, the lien of which is subordinate thereto, and except all public improvement assessments which may have priority thereover.
(Amended by Stats. 1993, Ch. 194, Sec. 24. Effective January 1, 1994.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 13 - SALE FOR DELINQUENCY › Section 8802.

8802. The city may pay and transfer into the redemption fund the amount of the delinquent assessment and of the delinquent interest for which the property has become tax-defaulted.
(Amended by Stats. 1993, Ch. 194, Sec. 25. Effective January 1, 1994.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 13 - SALE FOR DELINQUENCY › Section 8803.

8803. If a county or a city whose taxes are collected by the county is conducting the proceedings and the county or city has advanced available funds either in performance of its obligations in proceedings wherein the assessment was levied prior to September 17, 1986, or under subdivision (a) of Section 8769, or voluntarily under subdivision (b) of Section 8769, the tax collector shall account to the county or the city for any moneys received upon redemption or from the sale of the property. In that case, for the purposes of this division, the county or the city shall be entitled to reimbursement of any amounts so advanced from any moneys so received.
(Amended by Stats. 1993, Ch. 194, Sec. 26. Effective January 1, 1994.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 13 - SALE FOR DELINQUENCY › Section 8804.

8804. If there are no available funds in the treasury with which to make payment of the amount of the delinquent assessment and interest for which the property was declared to be in default, the tax collector shall make demand upon the legislative body that a suitable amount be included in the next tax levy for the purpose of providing funds with which to make the payment. However, the period of redemption from the declaration of default shall not be extended thereby nor shall the rights or privileges of the property owner be affected.
This section applies only to bonds representing unpaid assessments, which assessments were confirmed before June 6, 1978.
(Amended by Stats. 1993, Ch. 194, Sec. 27. Effective January 1, 1994.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 13 - SALE FOR DELINQUENCY › Section 8805.

8805. If the city has made advances as provided in Section 8803 with respect to any installment and any succeeding installment of the assessment or of the interest on the assessment is not paid in any future year, the property shall not be declared in default unless there has previously been a redemption from such declaration or unless under the law the property is then being declared in default for delinquent taxes.
(Amended by Stats. 1993, Ch. 194, Sec. 28. Effective January 1, 1994.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 13 - SALE FOR DELINQUENCY › Section 8806.

8806. Notwithstanding Section 8805, if a city has advanced available funds either in performance of its obligations in proceedings wherein the assessment was levied prior to September 17, 1986, or under subdivision (a) of Section 8769, the city shall, from time to time when due, pay and transfer into the redemption fund the amount of any future delinquent installments of the assessment and interest thereon pending redemption, and no redemption shall be made until any subsequent payments, with interest and penalties, are paid.
(Amended by Stats. 1993, Ch. 194, Sec. 29. Effective January 1, 1994.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 13 - SALE FOR DELINQUENCY › Section 8808.

8808. The city shall have the right to advance and pay any other taxes wherever necessary to protect its interest in property against which there is a delinquent assessment. It may also, at its discretion, temporarily transfer moneys into the redemption fund from other funds in which the moneys are not immediately needed. If the city has determined to obligate itself to use available funds to cure any deficiency in the redemption fund pursuant to subdivision (a) of Section 8769, it shall temporarily transfer available funds to the redemption fund upon determining that a deficiency exists. The moneys so transferred are to be used to pay sums due from the redemption fund and to be retransferred therefrom out of the first available receipts.
(Amended by Stats. 1988, Ch. 959, Sec. 5.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 13 - SALE FOR DELINQUENCY › Section 8809.

8809. The legislative body, shall, at the time of fixing the annual tax rate and levying the taxes to be collected for general city purposes, levy a special tax upon the taxable property in the city for the purpose of making advances under this part, and also for the purpose of paying installments of the assessment or of the interest thereon, which the city is required to pay under Section 8806, but not to exceed for each local improvement ten cents ($0.10) on each one hundred dollars ($100) of assessable property in any one year. The special tax shall be in addition to all other taxes levied for city purposes, and shall be computed, entered and collected in the same manner, and by the same persons and at the same time and with the same penalties and interest as are other taxes of the city.
This section applies only to bonds representing unpaid assessments, which assessments were confirmed before June 6, 1978.
(Amended by Stats. 1993, Ch. 194, Sec. 30. Effective January 1, 1994.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 14 - FORECLOSURE BY ACTION › Section 8830.

8830. (a) As a cumulative remedy, if any assessment or reassessment or installment thereof, or of any interest thereon, together with any penalties, costs, fees, and other charges accruing under applicable taxation provisions are not paid when due, the legislative body may order that the same be collected by an action brought in the superior court to foreclose the lien thereof as provided by this part.
(b) The legislative body may, by resolution adopted prior to issuance of bonds under this division, covenant for the benefit of bondholders to commence and diligently prosecute any foreclosure action regarding delinquent installments of any assessments or reassessments which secure the bonds that are to be issued, and, at any time, may assign the causes of action arising from the foreclosure to a trustee to do so on behalf of the bondholders. The resolution may specify a deadline for commencement of the foreclosure action and other terms and conditions as the legislative body may determine to be reasonable regarding the foreclosure action.
(c) Except as provided in Section 8836, all installments, interest, penalties, costs, fees, and other charges that are delinquent at the time of the ordering of a foreclosure action shall be collected in the action. If a lot or parcel of property has not been sold pursuant to judgment in the foreclosure action at the time that subsequent installments and interest become delinquent, the court may include the subsequent installments, interest, penalties, costs, fees, and other charges in the judgment or modified judgment.
(d) For purposes of financing delinquent assessments pursuant to Section 26220, the legislative body may act as if it were a board of supervisors.
(e) Notwithstanding any other provision of this chapter, no trustee or joint powers authority shall be obligated to accept the tender of bonds in satisfaction of any obligation arising from a delinquent assessment, although either may do so if authorized to do so by the legislative body.
(f) An action to determine the validity of any bonds issued, any joint powers agreement entered into, and any related agreements entered into, by a joint powers agency acting pursuant to this section may be brought by the joint powers agency pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure. Any appeal from a judgment in the action shall be commenced within 30 days after entry of judgment.
(Amended by Stats. 1997, Ch. 946, Sec. 8. Effective January 1, 1998.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 14 - FORECLOSURE BY ACTION › Section 8831.

8831. Costs in the action shall be fixed and allowed by the court and shall include a reasonable attorney’s fee, interest, penalties and other charges or advances authorized by this division, including reasonable administrative costs incurred by the city in pursuing the foreclosure, and when so fixed and allowed by the court the costs shall be included in the judgment.
(Amended by Stats. 1991, Ch. 966, Sec. 8.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 14 - FORECLOSURE BY ACTION › Section 8833.5.

8833.5. At any time after the tax collector has been relieved of further duty with regard to amounts charged against him or her on account of the assessments or reassessments described by Section 8833 and prior to a judgment of foreclosure, the city shall dismiss the foreclosure action upon payment of the sum of all of the following amounts:
(a) The amount of any delinquent installments of principal or interest of the assessment or reassessment, together with interest and penalties, costs, fees, and other charges accrued thereon to the same extent that they accrue against real property for nonpayment of general property taxes, to the date of payment.
(b) Costs of suit, including, but not limited to, service and recording fees and the costs of abstract or report of search of, or litigation guaranty with respect to, all claims of interest in the land.
(c) Attorneys fees authorized by the city.
(d) The tax collector’s costs authorized by Section 8833.
(Added by Stats. 1988, Ch. 959, Sec. 9.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 14 - FORECLOSURE BY ACTION › Section 8834.

8834. The foreclosure action shall be brought in the name of the city or a trustee employed on behalf of the bondholders pursuant to Section 8830, and may be brought at any time prior to the expiration of four years subsequent to the last maturity of the principal of bonds secured by the assessment or reassessment. The complaint may be brief and include substantially only the following allegations with reference to the assessment or reassessment sought to be collected:
(a) That, on a date stated, the legislative body passed its resolution ordering certain work to be done, without describing the same.
(b) If the assessment was levied pursuant to the Improvement Act of 1911 (Division 7 (commencing with Section 5000)), that work was done pursuant to the resolution.
(c) That an assessment to pay the cost of the work was duly made and was authorized to be collected, but remained unpaid on a stated date.
(d) That certain property (describing it) was assessed or reassessed a stated amount and that bonds upon the security of the assessment or reassessment were duly issued under this division, giving the date or dates of the bonds, their interest rate or rates, and the number of years the last maturity of the bonds were to run, but it is not necessary to state the amount, number, denomination, or other terms of the bonds.
(e) That, on a date stated, a certain sum came due against the described property on the assessment or reassessment and had not been paid and that the legislative body, or a trustee acting on behalf of the bondholders, had ordered the action to foreclose.
(Amended by Stats. 1990, Ch. 446, Sec. 19.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 14 - FORECLOSURE BY ACTION › Section 8837.

8837. This section applies if delinquent assessment installments, together with any penalties, interest, and costs, are collected through the sale of the property by the tax collector pursuant to Chapter 7 (commencing with Section 3691) of Part 6 of Division 1 of the Revenue and Tax Code.
(a) If the property is sold for at least the total amount necessary to redeem plus costs, as defined in Section 3698.5 of the Revenue and Taxation Code, the sale of the property shall extinguish the delinquent assessment installments, interest, penalties, and costs included in the sale price.
(b) If the property is sold for less than the total amount necessary to redeem plus costs, as defined in Section 3698.5 of the Revenue and Taxation Code, the following applies:
(1) The portion of the sales price paid by the tax collector to the local agency on account of the delinquent assessment installments shall be credited by the local agency first to delinquent interest and redemption penalties, and then to delinquent principal.
(2) The remainder of the delinquent assessment installments and redemption penalties, if any, shall remain due and owing.
(3) Redemption penalties shall continue to accrue on remaining unpaid delinquent assessment installments.
(4) The remaining unpaid amount, with penalties, may be added as postjudgment delinquencies to any existing unsatisfied foreclosure judgment against the property, or may be collected in a new foreclosure action filed pursuant to this chapter.
(Added by Stats. 2007, Ch. 670, Sec. 120. Effective January 1, 2008.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 14.5 - TITLE TAKEN BY PURCHASER › Section 8840.

8840. Except as otherwise provided in Section 8836 and notwithstanding any other provision of law, the purchaser of property subject to delinquent installments of principal or interest on an assessment or reassessment at the tax collector’s sale pursuant to Part 13 (commencing with Section 8800), or at a foreclosure sale by order of court pursuant to Part 14 (commencing with Section 8830), shall take the property subject to all future installments of principal and interest on any assessment or reassessment which are not due and payable at the time of the tax collector’s sale pursuant to Part 13 (commencing with Section 8800), or at the time of the judgment pursuant to Part 14 (commencing with Section 8830), without regard to the priority of the lien thereof.
(Added by Stats. 1992, Ch. 772, Sec. 11. Effective January 1, 1993.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 15 - MISCELLANEOUS PROVISIONS › Section 8850.

8850. No bond, assessment, or installment thereof or of the interest or penalties thereon, or declaration of default or deed shall be held invalid for any error in the computation of the proper amount due on the same, if the error is found to be comparatively negligible, or is found to be in favor of the owner of the real property affected thereby.
(Amended by Stats. 1993, Ch. 194, Sec. 31. Effective January 1, 1994.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 15 - MISCELLANEOUS PROVISIONS › Section 8851.

8851. Upon the application of the legislative body or of any holder or other interested party, the Commissioner of Financial Institutions shall examine into the regularity of the issuance of bonds under this division and the sufficiency of the security provided for the payment thereof and if satisfied therewith he or she may certify the same as suitable for investment by savings banks and trustees whereupon the bonds may be used for investment of savings deposits and trust funds. The cost of any such examination may on approval of the legislative body be paid out of any surplus money in the redemption fund not required for the payment of the interest or principal of the bonds.
(Amended by Stats. 1996, Ch. 1064, Sec. 807. Effective January 1, 1997. Operative July 1, 1997, by Sec. 814 of Ch. 1064.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 16 - SPECIAL SECURITY FUND › Section 8880.

8880. In any proceedings leading to the issuance of bonds pursuant to this division, the legislative body may include, as an incidental expense of the proceedings, an amount to create a special reserve fund for the bonds.
The amount so provided shall not exceed 10 percent of the total amount of assessments to be levied under the proceedings.
(Amended by Stats. 1989, Ch. 104, Sec. 25.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 16 - SPECIAL SECURITY FUND › Section 8881.

8881. Where a special reserve fund is created for a bond issue, the assessment levied on any parcel for the payment of the bond issue shall be reduced upon the payment, in whole or in part, of the assessment pursuant to provisions for either (1) cash payments of assessments prior to the issuance of the bonds or (2) advance payment of assessments following the issuance of the bonds.
The proportional reduction on the assessment shall equal the ratio of the total amount initially provided for the special reserve fund to the total amount originally assessed in the proceedings for the bond issue.
(Added by Stats. 1979, Ch. 149.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 16 - SPECIAL SECURITY FUND › Section 8882.

8882. Upon receipt of the bond sale proceeds, the amount so provided for the special reserve fund pursuant to Section 8880 shall be transferred to the fund.
The special reserve fund shall be identified by the name of the proceedings under which the bonds are issued and shall constitute a trust fund for the benefit of the bondholders, subject to and to be administered in accordance with the provisions of this part.
(Amended by Stats. 1981, Ch. 378, Sec. 1. Effective September 9, 1981.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 16 - SPECIAL SECURITY FUND › Section 8883.

8883. The money in the special reserve fund shall be available for transfer into the redemption fund for the bonds pursuant to Part 13 (commencing with Section 8800). The amount so advanced shall be reimbursed from the proceeds of redemption or sale of the parcel for which payment of delinquent installments was made from the special reserve fund.
(Amended by Stats. 1981, Ch. 378, Sec. 2. Effective September 9, 1981.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 16 - SPECIAL SECURITY FUND › Section 8884.

8884. Whenever an assessment is paid off following the issuance of bonds, there shall be transferred, from the special reserve fund to the redemption fund, an amount equal to the reduction in the assessment determined pursuant to Section 8881.
(Added by Stats. 1979, Ch. 149.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 16 - SPECIAL SECURITY FUND › Section 8885.

8885. Whenever the balance in the special reserve fund is sufficient to retire all remaining outstanding bonds in the issue, whether by advance retirement or otherwise, collection of the principal and interest on the assessments shall be discontinued and the special reserve fund shall be liquidated in retirement of the bonds.
In the event that the balance in the fund at the time of liquidation exceeds the amount required to retire all outstanding bonds in the issue, the excess shall be apportioned to each parcel upon which the individual assessment remained unpaid at the time the balance in the reserve fund was sufficient to retire all outstanding bonds in the issue. The payments shall be made in cash to the respective owners of the parcels except that, if the excess is not greater than one thousand dollars ($1,000), the excess may be transferred to the general fund of the entity conducting the proceedings.
(Amended by Stats. 1981, Ch. 378, Sec. 3. Effective September 9, 1981.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 16 - SPECIAL SECURITY FUND › Section 8886.

8886. Money in the special reserve fund may be temporarily invested in any authorized investments pursuant to Article 1 (commencing with Section 53600) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code, or in any authorized investments pursuant to law in the case of money resulting from assessments levied for bonds authorized to be issued after the effective date of the amendments to this section enacted during the 1981–82 Regular Session of the Legislature, provided that the maturities thereof shall not be later than the date on which the money may be required for the redemption fund pursuant to this part.
Any income realized from such investments shall be credited to the special reserve fund, and any loss or expense resulting from such investment shall be charged to that fund.
(Amended by Stats. 1981, Ch. 378, Sec. 4. Effective September 9, 1981.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915 › PART 16 - SPECIAL SECURITY FUND › Section 8887.

8887. Notwithstanding any other provision in this part, for the purposes of (1) assuring that the bonds to be issued will not become arbitrage bonds as defined in the Internal Revenue Code of 1954 (Title 26 of the United States Code) and regulations promulgated thereunder by the Department of Treasury, and (2) providing for reduction of the amount of money in the special reserve fund during the term of the bonds, the legislative body may, by resolution adopted prior to the issuance of bonds under this division, provide that money in the special reserve fund, including investment income, shall be used, in the amounts and at the times as the legislative body may determine, for either or both of the following:
(a) Credit upon the assessment in the manner provided in Section 10427.1.
(b) Transfer to the redemption fund for advance retirement of the bonds pursuant to this division.
The resolution may specify the terms and conditions, as the legislative body may determine to be reasonable, with respect to its authorization of either or both of the uses.
(Added by Stats. 1981, Ch. 378, Sec. 5. Effective September 9, 1981.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9000.

9000. The refunding of bonds issued under the “Improvement Bond Act of 1915” so as to restore property to the tax rolls and make it available for development is declared to be an important policy of this State and all necessary authority, power, and jurisdiction to impose a valid reassessment upon lands deeded to the State or to any city therein for delinquent taxes or for delinquent taxes and assessments, and to enforce the lien of such reassessment is hereby granted, and any and all acts and proceedings of every kind and nature necessary for the levy of the valid reassessment and for the enforcement of the lien of such reassessment are hereby authorized.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9001.

9001. The legislative body of any city in this State may refund bonds issued under the “Improvement Bond Act of 1915,” under and subject to the provisions of this division, and may provide for the extension of the liens of assessments and the levy and collection of assessments and reassessments to pay such bonds.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9002.

9002. It is the intention of this division that the original bonds and the original assessments shall remain in full force and effect until superseded and supplanted by reassessments and refunding bonds validly and legally issued, upon which the city is validly subject to the liability to pay the refunding bonds.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9003.

9003. Any action or determination made necessary by reason of constitutional requirements or otherwise, or any action or determination which is convenient in the making of the reassessment, or in the refunding and reassessment proceedings, which is not expressly set forth in this division is hereby authorized and the same when made shall be valid and sufficient.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9004.

9004. Any city may employ any qualified person to perform any work provided for or authorized by this division or in connection with the refunding of any indebtedness authorized to be refunded under this division.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9005.

9005. The incidental expenses of any refunding and reassessment authorized by this division shall be paid by the city in which the district lies.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9006.

9006. When proceedings are commenced under this division, the provisions of this division only shall apply thereto.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9007.

9007. This division does not affect any other act or acts now existing or which may hereafter be passed covering the same subject matter, nor apply to any proceedings thereunder, but is intended to and does provide an alternative system for the refunding of bonds.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9008.

9008. The remedies provided for the enforcement of any reassessment levied under the provisions of this division are not exclusive and additional remedies may be provided at any time.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9009.

9009. The curative clauses of this division are cumulative and each of them is to be given full force and effect.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9010.

9010. This division and all of its provisions shall be liberally construed, to the end that the purposes thereof may be made effective.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9011.

9011. Whenever the requisite number of property owners have filed their written consent to the refunding and reassessment under this division, any city may perform any of the following acts:
(a) File a petition and take all steps and proceedings required, permitted, or authorized under any bankruptcy law of the United States, or bring any action or proceeding authorized under the powers of any court for the composition or readjustment of the indebtedness to be refunded.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9012.

9012. In any action to foreclose or in any action to quiet title brought by the purchaser at a sale for delinquency under this division, or by his successor in interest, the State of California may be made a party defendant, and in that event it shall be sufficient service of process to serve the Attorney General.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9013.

9013. In the event of foreclosure or action to quiet title process shall be served upon the same person or persons as in other cases of suits against the city.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 1 - General Provisions › Section 9014.

9014. The purchaser, whether at tax collector’s sale or at resale by the city in the event of the city having become the purchaser, or at foreclosure sale by order of court, takes the property subject to all unpaid installments, interest and penalties under the same proceeding.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 2 - Definitions › Section 9015.

9015. Unless the particular provision or the context otherwise requires, the definitions contained in this article shall govern the construction of this division.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 2 - Definitions › Section 9016.

9016. All words in this division relating to municipal officers and matters shall be construed as referring to the corresponding county officers and matters under this division.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 2 - Definitions › Section 9017.

9017. “Auditor” means:
(a) When used with reference to a county, the county auditor.
(b) When used with reference to a city, any person who, under whatever name or title, is charged with the duty of extending taxes upon the assessment rolls and lists.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 2 - Definitions › Section 9018.

9018. “City” includes counties, cities and counties, and all corporations organized and existing for municipal purposes.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 2 - Definitions › Section 9019.

9019. “Clerk” means:
(a) When used with reference to a county, the clerk of the board of supervisors.
(b) When used with reference to a city, the person who is or acts as clerk of the legislative body of the city.
(Amended by Stats. 2002, Ch. 221, Sec. 129. Effective January 1, 2003.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 2 - Definitions › Section 9020.

9020. “Legislative body” means:
(a) When used with reference to a county, the board of supervisors.
(b) When used with reference to a city, the body which by law constitutes the legislative department of the government of the city.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 2 - Definitions › Section 9021.

9021. “Parcel” means lot, piece, parcel, or tract of land.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 2 - Definitions › Section 9022.

9022. As used with reference to a county, “street superintendent” or “superintendent of streets” means the county surveyor or such other competent county officer as may be appointed by the board of supervisors to perform the duties imposed upon the street superintendent.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 2 - Definitions › Section 9023.

9023. “Tax collector” means any person who, under whatever name or title, is charged with the duty of collecting taxes, advertising delinquent lists of unpaid taxes, selling lands thereunder and executing certificates of sale and deeds thereon.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 2 - Definitions › Section 9024.

9024. “Tax-deeded lands” are parcels of land, the assessment upon which is security for the outstanding bonds to be refunded, which have been deeded to the State for delinquent taxes or delinquent taxes and assessments.
(Added by Stats. 1951, Ch. 463.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915” › CHAPTER 1 - General Provisions and Definitions › ARTICLE 2 - Definitions › Section 9025.

9025. “Treasurer” means:
(a) When used with reference to a county, the county treasurer.
(b) When used with reference to a city, the city treasurer.
(Added by Stats. 1951, Ch. 463.)