State Codes and Statutes

Statutes > California > Hnc > 7240-7243

HARBORS AND NAVIGATION CODE
SECTION 7240-7243 



7240.  The district may issue revenue bonds for any purpose
mentioned in this part under the provisions of the Revenue Bond Law
of 1941 (Chapter 6 (commencing at Section 54300) of Division 2 of
Title 5 of the Government Code).


7241.  If revenue bonds are issued, the bonds shall be authorized by
a majority of the qualified electors as provided in the Revenue Bond
Law of 1941 (Chapter 6 (commencing at Section 54300) of Division 2
of Title 5 of the Government Code).



7243.  In any ordinance or resolution calling an election to
authorize the issuance of revenue bonds of the district, the board
may insert a provision that it intends to provide, as further
security for the bonds, for a limited tax levy (stating the limit as
to rate) which shall be levied from time to time to the extent to
which revenues pledged to the payment of the principal of and
interest on the bonds have been or are expected to be insufficient in
any year to pay said principal and interest or to the extent to
which any reserve fund established for said bonds has been or will be
used to pay, or to provide for the payment of, such principal or
interest. If such provision is so inserted and if the bonds are
authorized by a fifty-one percent (51%) favorable vote, the board may
insert in the ordinance or resolution providing for the issuance of
such bonds a provision for such limited tax levy and such terms,
conditions and covenants as may be necessary or convenient for the
carrying out of such provision. The limited tax levies authorized by
this section shall not in the aggregate exceed in any one year
seventy-five cents ($0.75) on each one hundred dollars ($100) of
assessed valuation.

State Codes and Statutes

Statutes > California > Hnc > 7240-7243

HARBORS AND NAVIGATION CODE
SECTION 7240-7243 



7240.  The district may issue revenue bonds for any purpose
mentioned in this part under the provisions of the Revenue Bond Law
of 1941 (Chapter 6 (commencing at Section 54300) of Division 2 of
Title 5 of the Government Code).


7241.  If revenue bonds are issued, the bonds shall be authorized by
a majority of the qualified electors as provided in the Revenue Bond
Law of 1941 (Chapter 6 (commencing at Section 54300) of Division 2
of Title 5 of the Government Code).



7243.  In any ordinance or resolution calling an election to
authorize the issuance of revenue bonds of the district, the board
may insert a provision that it intends to provide, as further
security for the bonds, for a limited tax levy (stating the limit as
to rate) which shall be levied from time to time to the extent to
which revenues pledged to the payment of the principal of and
interest on the bonds have been or are expected to be insufficient in
any year to pay said principal and interest or to the extent to
which any reserve fund established for said bonds has been or will be
used to pay, or to provide for the payment of, such principal or
interest. If such provision is so inserted and if the bonds are
authorized by a fifty-one percent (51%) favorable vote, the board may
insert in the ordinance or resolution providing for the issuance of
such bonds a provision for such limited tax levy and such terms,
conditions and covenants as may be necessary or convenient for the
carrying out of such provision. The limited tax levies authorized by
this section shall not in the aggregate exceed in any one year
seventy-five cents ($0.75) on each one hundred dollars ($100) of
assessed valuation.


State Codes and Statutes


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State Codes and Statutes

Statutes > California > Hnc > 7240-7243

HARBORS AND NAVIGATION CODE
SECTION 7240-7243 



7240.  The district may issue revenue bonds for any purpose
mentioned in this part under the provisions of the Revenue Bond Law
of 1941 (Chapter 6 (commencing at Section 54300) of Division 2 of
Title 5 of the Government Code).


7241.  If revenue bonds are issued, the bonds shall be authorized by
a majority of the qualified electors as provided in the Revenue Bond
Law of 1941 (Chapter 6 (commencing at Section 54300) of Division 2
of Title 5 of the Government Code).



7243.  In any ordinance or resolution calling an election to
authorize the issuance of revenue bonds of the district, the board
may insert a provision that it intends to provide, as further
security for the bonds, for a limited tax levy (stating the limit as
to rate) which shall be levied from time to time to the extent to
which revenues pledged to the payment of the principal of and
interest on the bonds have been or are expected to be insufficient in
any year to pay said principal and interest or to the extent to
which any reserve fund established for said bonds has been or will be
used to pay, or to provide for the payment of, such principal or
interest. If such provision is so inserted and if the bonds are
authorized by a fifty-one percent (51%) favorable vote, the board may
insert in the ordinance or resolution providing for the issuance of
such bonds a provision for such limited tax levy and such terms,
conditions and covenants as may be necessary or convenient for the
carrying out of such provision. The limited tax levies authorized by
this section shall not in the aggregate exceed in any one year
seventy-five cents ($0.75) on each one hundred dollars ($100) of
assessed valuation.


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