reglab/statecodes huggingface dataset:
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6 - Powers and Functions of District › ARTICLE 12 - Irrigation Standby or Immediate Availability Charge › Section 13024.

13024. Any funds derived from the standby charges levied pursuant to this article may be used by the district for all purposes which a district is authorized to expend funds insofar as such purposes relate to the acquisition of a water supply or the acquisition, construction, operation, control, or use of works for supplying land within the district with irrigation water.
(Added by Stats. 1971, Ch. 174.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 1 - Application › Section 13071.

13071. This chapter is complete authority for the issuance of bonds hereunder, and no action or proceeding not required by this chapter shall be necessary for the valid authorization and issuance of such bonds.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 1 - Application › Section 13072.

13072. Unless otherwise clearly indicated by the context, all of the provisions of this chapter shall be understood as relating only to bonds issued under this chapter.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 1 - Application › Section 13073.

13073. This chapter shall apply only to districts which have owned and operated an electric distribution system for at least 10 years and which have a population of 250,000 or more.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 2 - Definitions › Section 13082.

13082. “Bonds” includes the meaning of “notes, certificates and other evidences of indebtedness” and in every case refers only to bonds issued under this chapter, whether so specified or not.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 2 - Definitions › Section 13084.

13084. “Assented to by the voters” means that the proposition indicated by the context has been submitted to the voters of the district, and has been assented to by a majority of those voters who voted upon that proposition at the election.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 2 - Definitions › Section 13085.

13085. “Payments on principal” means payments on account of the principal of bonds, whether upon maturity or by payments into a sinking fund on account of principal, and includes premiums required to be paid on the mandatory redemption of sinking fund bonds.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 3 - General Authorization › Section 13091.

13091. A district may borrow money from time to time for the purpose of constructing, reconstructing, replacing, extending or improving its system for supplying the district and its inhabitants with electric energy, and may issue and sell bonds to evidence the indebtedness created by such borrowing. No such money may be used:
(1) For constructing or improving works located outside the district boundaries which exist on the date this Chapter 6.5 is enacted.
(2) For acquiring any property owned by a public utility.
(3) For constructing or improving works for generating electricity.
(4) For constructing or improving works used, or to be used, in whole or in part either for the receipt, transmission and delivery of electric energy for any supplier of electric power or for the exchange of electric power with any person or entity. This provision shall not prevent the district from using such money for the purposes set forth in the initial sentence of this section.
Such bonds shall not be issued for a term in excess of 20 years after the date of such bonds; provided, that this sentence shall not limit the power of a district to refund such bonds.
(Amended by Stats. 1962, 1st Ex. Sess., Ch. 6.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 3 - General Authorization › Section 13092.

13092. A district may also refund from time to time, whether at or prior to maturity, any outstanding indebtedness evidenced by its bonds, and may issue, and sell or exchange, bonds so to refund such indebtedness. Refunding bonds which are to be sold may be issued and sold at such time in advance of the time at which the bonds to be redeemed or paid out of the proceeds of such refunding bonds are to be so redeemed or paid as the board may determine.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 3 - General Authorization › Section 13093.

13093. Whenever a district exercises the power to borrow money pursuant to this chapter the board may authorize the issuance of bonds in any amount which, when added to the aggregate amount of bonds of the district issued under this chapter and outstanding at the time of the acceptance of a proposal for the purchase of the bonds so authorized and payable out of the revenues out of which the bonds so authorized are to be payable shall not exceed the amount of the earned surplus derived from the operation of the electric system to which those revenues pertain, as of the end of the last fiscal year which ended not less than four months prior to the making of the finding and determination provided for in Section 13161. The aggregate amount of bonds issued under this chapter shall not exceed in face value the sum of ten million dollars ($10,000,000) in any one calendar year. The term “earned surplus” whenever used in this chapter means the excess of revenues from the inception of operation of the electric system over related expenses thereof, plus accumulated price-level depreciation, plus or minus any additional amounts credited to or charged against customers’ equity employed in the business of the electric system, as determined in accordance with the then current accounting practice of the district. The term “accumulated price-level depreciation” as used in this section means the accumulated additional amounts by which depreciation based on the cost of depreciable property adjusted to reflect current price levels exceeds depreciation computed on cost.
(Amended by Stats. 1962, 1st Ex. Sess., Ch. 6.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 3 - General Authorization › Section 13094.

13094. The limitations prescribed in Section 13093 shall not be applicable to the issuance of any refunding bonds pursuant to this chapter, and the amount of any issue of such refunding bonds may equal, but shall not exceed, the amount required for the payment or redemption of the bonds to be refunded thereby, including the premiums, if any, due upon such redemption, but excluding any interest due upon such redemption.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 3 - General Authorization › Section 13095.

13095. Any bond for the payment and discharge of which, upon maturity or upon redemption prior to maturity, provision has been made through the setting apart in a reserve fund or special trust account created pursuant to this chapter to insure the payment thereof, of moneys sufficient for that purpose, or through the irrevocable segregation for that purpose, in some sinking fund or other fund or trust account, of moneys sufficient therefor, shall be deemed to be no longer outstanding within the meaning of any provision of this chapter.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 3 - General Authorization › Section 13096.

13096. The board shall have power to determine all the terms and conditions of the issuance and sale of bonds pursuant to this chapter, excepting only as such power is limited by express provisions of this chapter.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 4 - Proceedings for Issuance › Section 13101.

13101. Whenever a district proposes to exercise the power to borrow money, or to refund indebtedness, pursuant to this chapter, the board shall adopt a preliminary resolution declaring its intention to authorize the issuance of bonds for such purpose, which resolution shall specify all of the following:
(1) The purpose for which the proposed bonds are to be issued.
(2) The maximum principal amount of the bonds proposed to be issued in the then current calendar year.
(3) The maximum term for which any of said bonds are to run.
(4) The maximum rate of interest to be payable upon such bonds.
(5) The maximum premium, if any, to be payable on the redemption of any such bonds.
(Amended by Stats. 1962, 1st Ex. Sess., Ch. 6.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 4 - Proceedings for Issuance › Section 13103.

13103. When bonds are issued under this chapter, the preliminary resolution of the board adopted pursuant to this article shall take effect upon its adoption by the board subject to the right of referendum herein provided for.
(Amended by Stats. 1962, 1st Ex. Sess., Ch. 6.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 4 - Proceedings for Issuance › Section 13104.

13104. Upon any such resolution taking effect subject to the right of referendum, pursuant to this article, the board shall cause the same to be published in the manner provided for the publication of notices. At any time within 60 days after the date of the second such publication a referendary petition, signed by voters in number equal to at least 3 percent of the total vote cast, as defined in Section 11507, demanding the submission of such resolution to a vote of the voters of the district for their assent to the issuance of the proposed bonds, may be filed with the secretary. Upon presentation to the secretary of a referendary petition, the resolution which is the subject thereof shall be of no effect unless and until it has been assented to by the voters.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 4 - Proceedings for Issuance › Section 13105.

13105. If no such referendary petition is presented within the aforesaid period of 60 days, then upon the expiration of said period, or if the proposition of issuing the bonds specified in the resolution of the board adopted pursuant to this article has been assented to by the voters, whether upon referendum or pursuant to any other provisions of this chapter, then upon such proposition having been so assented to, the resolution shall take full and final effect, and the board may proceed in accordance with the provisions of this chapter and issue bonds within the terms of the resolution.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 4 - Proceedings for Issuance › Section 13106.

13106. The provisions of any resolution constituting a part of the proceedings for the issuance of any bonds under this chapter, when so declared by its terms, or by the terms of any other such resolution, shall constitute a contract between the district and the holders of such bonds, and the provisions thereof shall be enforceable by mandamus or any other appropriate suit, action or proceeding at law or in equity in any court of competent jurisdiction.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 4 - Proceedings for Issuance › Section 13107.

13107. The board at any time may adopt a resolution providing for submission to the voters of the district of the proposition of assenting to any proposed action of the board in any case where such assent is required or permitted by the terms of this chapter, or in any case where the board may deem such submission to be desirable. Such resolution may provide for such submission at any specified regular district election, or at any special election. Such resolution and such election shall, except to the extent otherwise provided in this chapter, conform to the requirements of Article 1, Chapter 7, of this division. The board shall do, or cause to be done, any and all things necessary to make such submission at the election indicated by its resolution and to determine and certify the result thereof.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 5 - Sources of Payment › Section 13111.

13111. All bonds issued by a district pursuant to this chapter shall be, and shall recite upon their face that they are, payable both as to principal and interest, and as to any premiums upon the redemption thereof, out of the revenues pertaining to the electric system on account of which the indebtedness evidenced by such bonds was created, and not out of any other fund or moneys of the district.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 5 - Sources of Payment › Section 13112.

13112. The provisions of this article shall not preclude any of the following:
(1) The payment of any such principal, interest or premiums through appropriate reserve funds or special trust accounts, established as hereinafter in this article provided.
(2) The payment of interest on or principal of bonds of any such issue out of sums received as premiums or accrued interest on the sale of that issue.
(3) The payment of any such principal or premiums out of the proceeds of the sale of refunding bonds issued for that purpose.
(4) The payment out of the proceeds of any bonds of the whole or a part of the interest accruing on said bonds during the period of the performance of work to be paid for out of such proceeds.
(5) The payment of any such principal, interest or premiums by the purchasers of any such bonds, or by any entity, public or private, other than the district, in any case where any such purchaser or entity may have guaranteed such payment.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 6 - Reserve Funds › Section 13121.

13121. In connection with the exercise of the power to borrow money, to issue bonds, and to refund indebtedness, pursuant to this chapter, the board may, from time to time, establish and maintain a reserve fund or funds in the district treasury, or a special trust account or accounts with an agent or agents designated by the board as a sinking fund or otherwise, to insure the payment, when due or payable, whether at maturity or upon redemption, of the principal of, and interest on, bonds issued as aforesaid, including premiums, if any, due upon the redemption of any thereof, or for any of said purposes. Money in any such reserve fund may be used for the purchase of bonds of the issue in connection with which it was established, for cancellation and retirement pursuant to any mandatory requirement of the redemption of sinking fund bonds. Each such fund or account shall be established and maintained out of the revenues pertaining to the electric system on account of which such power is exercised or out of any moneys which under the terms of this article are applicable to the purpose, through transfers or payments made at such times and in such amounts as the board may direct.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 6 - Reserve Funds › Section 13122.

13122. Money set aside and placed in any such reserve fund or special trust account shall remain therein until from time to time expended for the purposes thereof, and shall not be used for any other purpose whatsoever, except for temporary investment thereof as provided in this chapter; provided, however,
(1) That money may be paid or transferred from any such fund or account in furtherance of the purpose of its establishment, to any other such fund or account established for a like purpose in connection with the same issue of bonds, to such extent as may be required or permitted under the terms of the resolution authorizing that issue; and
(2) That all money remaining in any such fund or account in excess of the amount required to make provision for the payment in full of the principal of, and interest on, the bonds with respect to which it was established, including premiums, if any, due upon the redemption of any thereof, may be returned and transferred to the revenue fund out of which such reserve fund was established.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 6 - Reserve Funds › Section 13123.

13123. Money in any such reserve fund shall be drawn therefrom only upon demands authenticated by the signature of the accountant of the district; provided, however, that the board may, in its discretion, direct and authorize the payment from such reserve fund, by the treasurer, without such authenticated demand, (i) of bonds of the issue in connection with which such reserve fund is so established when due upon maturity or call, or of coupons pertaining to bonds of such issue when due, but only upon presentation and surrender of such bonds or coupons, (ii) of interest upon registered bonds of such issue when due, or (iii) of premiums, if any, due upon the redemption of any such bonds.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 6 - Reserve Funds › Section 13124.

13124. Money in any such special trust account shall be drawn therefrom only in accordance with directions given or authorized by the board.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 7 - Obligation to Bondholders › Section 13131.

13131. So long as any bonds of the district are outstanding and unpaid, or so long as provision has not been made for the full payment and discharge of all such outstanding bonds, upon maturity, or upon redemption prior to maturity, through the setting apart in a reserve fund or special trust account created pursuant to this article to insure the payment thereof, of money sufficient for that purpose, or through other irrevocable allocation to that purpose of money sufficient therefor all provisions of this article shall be complied with.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 7 - Obligation to Bondholders › Section 13132.

13132. The board shall fix rates for service from the electric system to which the indebtedness pertains, and collect charges for such service, such as to provide revenues at least sufficient in the aggregate to pay, as the same shall become due, the principal and interest on all such bonds so outstanding payable out of those revenues, including premiums, if any, due upon the redemption of any thereof, in addition to paying, as the same shall become due, the necessary expenses of operating and maintaining such system, and all other obligations and indebtedness payable out of those revenues.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 7 - Obligation to Bondholders › Section 13133.

13133. Bonds issued under this chapter shall be issued without any priority with respect to payment of principal or interest.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 7 - Obligation to Bondholders › Section 13134.

13134. The electric system of the district to which the indebtedness pertains shall not be sold or otherwise disposed of, as a whole or substantially as a whole, unless such sale or other disposition be so arranged as to provide for a continuance of payments into a fund sufficient in amount to permit payment therefrom of principal of, and interest on, and premiums, if any, due upon the redemption of, all bonds issued under this chapter.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 7 - Obligation to Bondholders › Section 13135.

13135. No indebtedness payable out of revenues shall be created in contravention of the provisions of any resolutions heretofore adopted by the board in connection with the authorization of any bonds payable out of revenues.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 7 - Obligation to Bondholders › Section 13136.

13136. Anything in this article to the contrary notwithstanding, the board, in any resolution constituting a part of the proceedings for the issuance of any issue of bonds under this chapter may determine that the holders of the bonds of that issue are not to be entitled to the benefits of or to enforce any or all of the provisions of this article, and to that end the board, in such resolution, shall specify the provisions of this article to the benefits of which the holders of the bonds of that issue shall be entitled; and the holders of the bonds of that issue shall not be entitled to the benefits of or to enforce any of the provisions of this article not so specified.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 8 - Consents of Bondholders › Section 13141.

13141. The board may provide in the resolution authorizing the issue of any bonds under this chapter that any act consented to by the holders of 60 percent in aggregate principal amount of the outstanding bonds of any issue of bonds issued under this chapter, pursuant to provisions for such consents contained in any resolution of the board constituting a part of the proceedings for the issuance of such bonds, shall not, as to the bonds of that issue, be deemed an infringement of any of the provisions of Article 7 of this chapter, or of any covenant made pursuant thereto, whatever the character of such act may be.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 8 - Consents of Bondholders › Section 13142.

13142. The board may provide in the resolution authorizing the issue of any bonds under this chapter the terms and conditions upon which any provision of any resolution of the board constituting a part of the proceedings for the issuance of such bonds, or any provision of such bonds or coupons appurtenant thereto, may be modified if consented to by the holders of any percentage, specified in such resolution authorizing the issue of such bonds, of the aggregate principal amount of the outstanding bonds of such issue.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.

13151. Without limiting in any way the generality of its power, the board is expressly authorized, in its discretion, to provide, in connection with any issue of bonds under this chapter all the matters contained in this article.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.1.

13151.1. The board may provide for such bonds being in such amounts, of such denominations, payable at such times, and in such form as the board may determine.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.3.

13151.3. The board may provide for such bonds and the interest thereon, and premiums, if any, due upon the redemption of any thereof, being payable or collectible at any place or places, within or without the State of California, and without presentation and approval of demands.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.4.

13151.4. The board may provide for such bonds being payable to bearer or only to the registered holder, either as to principal alone, or as to both principal and interest; for such bonds being with or without coupons; for such bonds being nonregisterable, or registerable, either as to principal alone, or as to both principal and interest; for such bonds being exchangeable or nonexchangeable, convertible or nonconvertible; and for the reissuance of bonds or coupons which have been surrendered and preserved, or for the issuance of new bonds or coupons in the place of bonds or coupons which have been surrendered and canceled, wherever appropriate as incident to the discharge of any bond from registration, or to any exchange or conversion of any bond; all on such terms and conditions, and at such place or places, within or without the State of California, as the board may determine.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.5.

13151.5. The board may provide for such bonds being redeemable, either at the option of the district, or in the operation of any sinking fund provided for the issue, at such price or prices and in such manner as the board may determine, whether or not involving the payment of a premium upon such redemption; provided, that no bond shall be subject to redemption unless such bond at the time of its issue states on its face that it is redeemable at the option of the district or by the operation of a sinking fund for bonds of that issue, as the case may be.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.6.

13151.6. The board may provide for the issuance by the district of a duplicate, in the manner and on such terms and conditions as the board may determine, in the event any bond, temporary bond, coupon or interim receipt of any such issue is lost, destroyed or mutilated.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.7.

13151.7. The board may provide for the appointment and payment of fiscal, paying, sinking fund or other agents, or of trustees or registrars.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.8.

13151.8. The board may provide for the appointment of the treasurer of the district to act as such fiscal, paying, sinking fund or other agent.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.9.

13151.9. The board may provide for the custody by the district of bonds and coupons, whether pending delivery or after purchase or surrender; for the delivery of bonds and coupons by the district to the purchaser thereof; for the receipt by the district of the proceeds of the sale and for the depositing of such proceeds in the proper fund or funds.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.10.

13151.10. The board may provide for the sale of any such bonds upon such terms and conditions as the board in its discretion may determine at public sale. Bonds may be sold by the board below the par or face value thereof, at a discount not to exceed 6 percent of par value; provided further, that in the case of refunding bonds the board may provide for the refunding being made, in whole or in part, by the exchange of such refunding bonds for the bonds to be refunded. Before selling the bonds, or any part thereof, the board shall give notice not less than 10 days prior to the date of sale by publication in a newspaper of general circulation circulating in the district inviting sealed bids in such manner as the board shall prescribe. If satisfactory bids are received, the bonds offered for sale shall be awarded to the highest responsible bidder. If no bids are received, or if the board determines that the bids received are not satisfactory as to price or responsibility of the bidders, the board may reject all bids received, if any, and either readvertise or sell the bonds at private sale.
(Amended by Stats. 1970, Ch. 245.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.11.

13151.11. The board may provide for the issuance of interim receipts or of temporary bonds, in such form as the board may prescribe, pending the issuance of definitive bonds.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.12.

13151.12. The board may provide for any signatures to such bonds and to any coupons thereto attached, and to any interim receipts and temporary bonds, being by facsimile.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.13.

13151.13. The board may provide for restrictions on the incurring of additional indebtedness of the district payable out of the revenues out of which the bonds then authorized are to be payable.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.14.

13151.14. The board may provide for restrictions on future transfers out of the revenues out of which the bonds then authorized are to be payable.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.15.

13151.15. The board may provide for covenants with the holders of bonds to the same effect as set forth in Article 7 of this chapter, which covenants shall not be subject to alteration or repeal, except as in Article 8 of this chapter provided.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.16.

13151.16. The board may provide for the issuance and distribution in such form as the board may determine of official statements respecting proposed issues of bonds and the properties, operations and finances of the works on account of which such bonds are to be issued, for the information of prospective purchasers of such bonds; and, in any case where any proposition is to be submitted to the voters for their assent, whether by referendum or pursuant to any provision of this chapter, for the issuance, distribution, dissemination and publication of factual statements respecting such proposed issues of bonds, and such properties, operations and finances, for the information of such voters.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13151.17.

13151.17. The board may provide for the making of contracts, or the placing of orders, for the engraving or printing of any bonds, whether definitive or temporary, or of interim receipts, authorized by this chapter, or for any printing incident to the offering or issuance of any such bonds, without advertising for bids, in any case where, because of limitations of time, or requirements as to quality of work, or as to security in the control or custody of plates, or any similar cause, the board may deem it to be in the public interest so to do, anything in this division to the contrary notwithstanding, but in so doing the board shall, if practicable, obtain or cause to be obtained competitive bids, formal or informal, from bidders who can perform work of the required quality within the required time, and, in the case of engraving, who are of proper responsibility and who have adequate facilities for the control and safekeeping of the engraved plates.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 9 - Form and Content › Section 13152.

13152. Each issue of bonds issued pursuant to this chapter shall conform to the following requirements:
(1) Such bonds shall be serial bonds or sinking fund bonds, or a combination of serial and sinking fund bonds.
(2) Provision shall be made for the retirement of such bonds through annual payments on principal, and such payments shall begin not more than 10 years, and end not more than 20 years, after the date of such bonds.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 10 - Validity › Section 13161.

13161. Prior to the issue of any bonds to be issued pursuant to this chapter, the board, after satisfying itself respecting the relevant facts, shall, by resolution, find and determine—
(1) The amount of earned surplus derived from the operation of the electric system of the district to which the revenues out of which such bonds are to be payable pertain, as of the end of the last fiscal year which ended not less than four months prior to the making of such finding and determination, and that the ascertainment of such earned surplus has been in accordance with the then current accounting practice of the district; provided, however, that such finding and determination need not be made in the case of the authorization of refunding bonds, or in any case where the voters have assented to the issuance of bonds in excess of the limitation specified in this chapter.
(2) The amount of bonds issued under this chapter which are outstanding at the time of the adoption of such resolution.
(3) That the resolution or resolutions authorizing such issue of bonds in all respects conforms or conform with the provisions of this chapter.
(4) That the indebtedness to be evidenced by such issue of bonds, together with all other indebtedness of the district, pertaining to the electric system for or on account of which such bonds are to be issued, is within every debt or other limit prescribed by the Constitution and statutes of the State of California.
(5) That upon the issuance of such bonds any and all acts, conditions and things required to exist, to happen and to be performed, precedent to and in the issuance thereof, will exist, will have happened and will have been performed, in due time, form and manner, as required by the Constitution and statutes of the State of California.
(Amended by Stats. 1962, 1st Ex. Sess., Ch. 6.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 10 - Validity › Section 13163.

13163. The board, by resolution adopted in connection with any issue of bonds pursuant to this chapter, may direct that there shall be included in each of the bonds of that issue a certification and recital that any and all acts, conditions and things required to exist, to happen and to be performed, precedent to and in the incurring of the indebtedness evidenced by that bond, and in the issuing of said bond, exist, have happened and have been performed in due time, form and manner, as required by the Constitution and statutes of the State of California, and that said bond, together with all other indebtedness of the district pertaining to the electric system for or on account of which the indebtedness evidenced by said bond was incurred, is within every debt and other limit prescribed by the Constitution and statutes of the State of California.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 10 - Validity › Section 13164.

13164. From and after the issuance of any issue of bonds the findings and determinations of the board respecting that issue made pursuant to this article shall be conclusive evidence of the existence of the facts so found and determined in any action or proceeding in any court in which the validity of such bonds is at issue, and no bona fide purchaser of any such bond containing the certification and recital permitted by this article shall be required to see to the existence of any fact, or to the performance of any condition, or the taking of any proceeding, required prior to such issue, or to the application of the purchase price paid for such bonds.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 10 - Validity › Section 13165.

13165. Bonds shall be deemed to be issued, within the meaning of this article whenever the definitive bonds, or any temporary bonds or interim receipts exchangeable therefor, have been delivered to the purchasers thereof, and the purchase price thereof received, or in the case of bonds to be refunded through exchange, whenever such exchange has been made.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 10 - Validity › Section 13166.

13166. The validity of bonds reciting that they have been issued pursuant to this chapter shall not be affected by any provision or limitation contained in any other section or sections of this division. All bonds issued under this chapter shall be incontestable from and after the time of payment to the district of the purchase price thereof.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 11 - Proceeds › Section 13171.

13171. All sums received as accrued interest on the sale of any issue of bonds issued pursuant to this chapter shall be applied to the payment of interest on or principal of bonds of that issue.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 11 - Proceeds › Section 13172.

13172. All sums received as principal and premiums on the sale of any issue of bonds shall be applied to the purposes for which such bonds were issued. The board may provide in the resolution authorizing the issue of any bonds under this chapter that any portion of the proceeds of sale of the bonds may be applied to payment of interest during construction for a period of not to exceed three years from and after the date of such bonds.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 11 - Proceeds › Section 13173.

13173. The board may from time to time establish and maintain a separate fund or funds in the district treasury for the purpose of insuring the application of such proceeds received as principal on the sale of any issue of bonds to the purposes for which the same were issued.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 11 - Proceeds › Section 13174.

13174. Money set aside and placed in any such separate fund shall remain therein until from time to time expended for the purposes for which such bonds were issued, including the reimbursement of other funds of the district for expenditures therefrom for purposes for which such bonds were issued, made after the adoption by the board of the preliminary resolution of intention provided for in Section 13101, and shall not be used for any other purpose whatsoever, except for temporary investment thereof as provided in this division; provided, however, that money may be paid or transferred from any such separate fund, in furtherance of the purpose of its establishment, to any other such separate fund established for a like purpose in connection with the same issue of bonds.
(Amended by Stats. 1962, 1st Ex. Sess., Ch. 6.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 11 - Proceeds › Section 13175.

13175. Money in any such separate fund shall be drawn therefrom only upon demands authenticated by the signature of the accountant of the district.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 11 - Proceeds › Section 13176.

13176. If the board shall determine by resolution that the expenditure of the whole or any portion of the said principal sum of any issue of bonds for the purpose for which such bonds were issued is impracticable or unwise, the board may—
(1) Apply such money or any part thereof to the purchase of bonds of that issue, or to the payment of any such bonds, at maturity or on redemption, or to the payment of interest thereon or of premiums due on the redemption thereof; or
(2) Apply such money or any part thereof to any new purpose which is within the purposes for which bonds might be issued under the terms of this chapter; provided, however, that before applying any of such money to such new purpose the board shall adopt a resolution specifying such new purpose, the amount of such money to be applied thereto, and authorizing such application, which resolution shall be subject to the same procedures, and take final effect only in the same manner, as if it were a resolution adopted pursuant to Section 13091, authorizing the issuance of bonds for such new purpose, and such resolution authorizing such application to such new purpose, when it shall have taken final effect under such procedures, shall be sufficient authority for the application of such money to such new purpose.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 11 - Proceeds › Section 13177.

13177. If any excess of the principal sum of the proceeds of any issue of bonds shall remain unexpended after the full accomplishment of the purpose for which such bonds were issued the board, by resolution, may direct that the same shall be applied to the purchase of bonds of that issue, or to the payment of any such bonds, at maturity or on redemption, or to the payment of interest thereon or of premiums due on the redemption thereof, or that it shall be transferred to the revenues pertaining to the electric system in connection with which such bonds were issued.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 12 - Short Term Borrowing › Section 13181.

13181. A district may also have the power to borrow money from time to time for any or all of the purposes specified in this chapter, and to issue and sell notes, or other evidences, to evidence the indebtedness created by such borrowing, by resolution subject to referendum as provided in Section 13103, whenever they shall find and determine that the public interest and necessity require the exercise of that power.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 12 - Short Term Borrowing › Section 13182.

13182. All notes or other evidences of indebtedness issued under the authority of this article shall contain upon their face a recital that they are so issued and shall be payable in not to exceed three years from their date.
(Added by Stats. 1957, Ch. 2237.)
2023 California Code › Public Utilities Code - PUC › DIVISION 6 - MUNICIPAL UTILITY DISTRICT ACT › CHAPTER 6.5 - Electric System Improvements › ARTICLE 12 - Short Term Borrowing › Section 13183.

13183. No amount shall be borrowed under the authority of this article which when added to the amount of all other notes or other evidences of indebtedness issued under this article and then outstanding shall exceed 50 percent of the gross operating revenues from the works on account of which it is borrowed during the preceding fiscal year.
(Added by Stats. 1957, Ch. 2237.)