SECTIONS 26398-26400.4

26398.  This chapter shall be liberally construed to carry out itsobjects and purposes and to finance the construction of needed publicimprovements through the medium of revenue bonds and to protect theholders of such bonds.26399.  "Bonds" as used in this chapter means the written evidenceof any obligation incurred by the board payable out of revenues asprovided in this chapter in order to secure funds with which to carryout the purposes of this chapter irrespective of the form of suchobligation whether in the form of bonds, notes, debentures, interestbearing certificates or other forms prescribed by the board.26400.  "Revenue" as used in this chapter shall mean all fees,rates, charges, rentals or other income and revenue actually receivedor receivable by or for the account of the board from the operationof any particular project including without limiting the generalityof the foregoing interest allowed on any moneys or securities and anyproceeds derived from the sale of any securities and anyconsideration in any way derived from the particular project owned,operated or maintained by the board.26400.4.  This chapter shall not be operative in any county untilthe board of supervisors, either at a general or a special election,shall submit to the electors of the county the question as to whetherthe board of supervisors shall be authorized to adopt therevenue-bond method of financing for the improvements referred to inthis chapter. If a majority of the electors voting upon the question vote infavor of the revenue-bond method of financing the said improvements,the board of supervisors may proceed to undertake and finance theimprovements as provided for herein. If a majority of the electors voting upon the question voteagainst the revenue-bond method of financing the said improvements,the board of supervisors shall not again submit the question to theelectors until a period of at least six months has elapsed since thedate of the last election at which the question was submitted.