13925. Whenever a district board determines that it is necessary to
incur a general obligation bonded indebtedness for the acquisition
or construction of any real property or other capital expense or for
funding or refunding of any outstanding indebtedness, the district
board shall adopt a resolution making determinations and calling an
election on a proposition to incur indebtedness and to issue general
obligation bonds.
13926. The resolution shall state:
(a) The purpose for which the proposed debt is to be incurred,
which may include expenses for the authorization, issuance, and sale
of bonds.
(b) The amount of debt to be incurred.
(c) The maximum term of the bonds, not to exceed 30 years.
(d) The maximum rate of interest to be paid, not to exceed the
maximum rate permitted pursuant to Article 7 (commencing with Section
53530) of Chapter 3 of Part 1 of Division 2 of Title 5 of the
Government Code.
(e) The measure to be submitted to the voters.
(f) The date the election will be held.
(g) Any other matters that are required pursuant to the Uniform
District Election Law, Part 4 (commencing with Section 10500) of
Division 10 of the Elections Code.
13927. The election shall be conducted pursuant to the Uniform
District Election Law, Part 4 (commencing with Section 10500) of
Division 10 of the Elections Code.
13928. If two-thirds of voters voting upon the proposition favor
incurring the indebtedness and issuing the bonds, the district board
may adopt resolutions to issue bonds for all or any part of the
amount of the indebtedness.
13929. The district board may provide for the issuance of bonds in
any amounts, in any series, and on any terms, provided that they do
not exceed the limits approved by the voters.
13930. The district board shall adopt a resolution prescribing the
form and denomination of the bonds and any coupons. The resolution
shall specify the dates on which all or any part of the principal
shall become due and payable. The payment of the first installment or
principal may be deferred for a maximum period not to exceed five
years from the date on which the district board issues the first
bonds or first bonds in each series.
13931. The district board may provide for the call and redemption
of bonds before their maturity at times and prices and upon any other
terms as it specifies. A bond shall not be subject to call or
redemption before maturity unless it contains a recital to that
effect or unless a statement to that effect is printed on it.
13932. The principal and interest of the bonds shall be payable in
lawful money of the United States at the office of the district
treasurer or any other place, at the option of the bondholder.
13933. (a) The bonds shall be dated, numbered consecutively, and be
signed by the president of the district board and the district
treasurer. The district treasurer shall sign any coupons. Any
signatures or countersignatures may be mechanically reproduced by any
means, except that one of the signatures shall be signed by hand.
(b) If the president of the district board or the district
treasurer whose signature appears on a bond or coupon ceases to hold
that office before the delivery of the bonds or the coupons to the
purchaser, the signature is nevertheless valid and sufficient for any
purpose as if the president or treasurer had remained in office
until the delivery of the bonds or coupons.
13934. (a) Before selling the bonds or coupons, the district board
shall give notice inviting sealed bids. At a minimum, the district
board shall publish notice at least once in a newspaper of general
circulation in the district at least 10 days before the deadline for
receiving the bids.
(b) The district board shall award the sale of the bonds to the
highest responsible bidder.
(c) If the district board does not receive any bids or if it
determines that the bids received are not satisfactory as to price or
responsibility of the bidders, it may reject all bids, if any, and
either readvertise or sell the bonds at private sale.
13935. (a) All premiums and accrued interest received from the sale
of the bonds shall be deposited with the district treasurer in a
special bond service fund to be used for the payment of the principal
of and interest on the bonds, and the remainder of the proceeds of
the bonds shall be placed to the credit of the proper improvement
fund and applied exclusively to the purpose and object recited in the
proposition approved by the voters.
(b) When the purpose and object have been accomplished, any moneys
remaining in the improvement fund shall be transferred to the
special bond service fund. When the purpose and object have been
accomplished and all principal and interest on the bonds have been
paid, any balance of money then remaining shall be transferred to the
general fund of the district.
13936. Any general obligation bonds issued by a district have the
same force, value, and use as bonds issued by a city and the bonds
and the interest on the bonds are exempt from all taxation within the
State of California.
13937. A district shall not incur a bonded indebtedness in excess
of 10 percent of the assessed value of all taxable property within
the district.
13938. (a) After incurring a general obligation indebtedness, and
annually thereafter until the indebtedness is paid or until there is
a sum in the district treasury in a special bond service fund set
apart for that purpose sufficient to meet all payments of principal
and interest on that indebtedness as it becomes due, the district
board shall adopt a resolution directing the county tax collector to
levy a tax on behalf of the district.
(b) The tax shall be in addition to all other taxes levied by and
for the district and shall be collected in the same manner and at the
same time as county taxes. A county may recover its costs as
provided by Section 29142 of the Government Code.
(c) The rate of the tax shall be fixed to result in proceeds which
are sufficient to pay any principal and interest which will become
due before the next proceeds of a tax to be levied will be available.
13925. Whenever a district board determines that it is necessary to
incur a general obligation bonded indebtedness for the acquisition
or construction of any real property or other capital expense or for
funding or refunding of any outstanding indebtedness, the district
board shall adopt a resolution making determinations and calling an
election on a proposition to incur indebtedness and to issue general
obligation bonds.
13926. The resolution shall state:
(a) The purpose for which the proposed debt is to be incurred,
which may include expenses for the authorization, issuance, and sale
of bonds.
(b) The amount of debt to be incurred.
(c) The maximum term of the bonds, not to exceed 30 years.
(d) The maximum rate of interest to be paid, not to exceed the
maximum rate permitted pursuant to Article 7 (commencing with Section
53530) of Chapter 3 of Part 1 of Division 2 of Title 5 of the
Government Code.
(e) The measure to be submitted to the voters.
(f) The date the election will be held.
(g) Any other matters that are required pursuant to the Uniform
District Election Law, Part 4 (commencing with Section 10500) of
Division 10 of the Elections Code.
13927. The election shall be conducted pursuant to the Uniform
District Election Law, Part 4 (commencing with Section 10500) of
Division 10 of the Elections Code.
13928. If two-thirds of voters voting upon the proposition favor
incurring the indebtedness and issuing the bonds, the district board
may adopt resolutions to issue bonds for all or any part of the
amount of the indebtedness.
13929. The district board may provide for the issuance of bonds in
any amounts, in any series, and on any terms, provided that they do
not exceed the limits approved by the voters.
13930. The district board shall adopt a resolution prescribing the
form and denomination of the bonds and any coupons. The resolution
shall specify the dates on which all or any part of the principal
shall become due and payable. The payment of the first installment or
principal may be deferred for a maximum period not to exceed five
years from the date on which the district board issues the first
bonds or first bonds in each series.
13931. The district board may provide for the call and redemption
of bonds before their maturity at times and prices and upon any other
terms as it specifies. A bond shall not be subject to call or
redemption before maturity unless it contains a recital to that
effect or unless a statement to that effect is printed on it.
13932. The principal and interest of the bonds shall be payable in
lawful money of the United States at the office of the district
treasurer or any other place, at the option of the bondholder.
13933. (a) The bonds shall be dated, numbered consecutively, and be
signed by the president of the district board and the district
treasurer. The district treasurer shall sign any coupons. Any
signatures or countersignatures may be mechanically reproduced by any
means, except that one of the signatures shall be signed by hand.
(b) If the president of the district board or the district
treasurer whose signature appears on a bond or coupon ceases to hold
that office before the delivery of the bonds or the coupons to the
purchaser, the signature is nevertheless valid and sufficient for any
purpose as if the president or treasurer had remained in office
until the delivery of the bonds or coupons.
13934. (a) Before selling the bonds or coupons, the district board
shall give notice inviting sealed bids. At a minimum, the district
board shall publish notice at least once in a newspaper of general
circulation in the district at least 10 days before the deadline for
receiving the bids.
(b) The district board shall award the sale of the bonds to the
highest responsible bidder.
(c) If the district board does not receive any bids or if it
determines that the bids received are not satisfactory as to price or
responsibility of the bidders, it may reject all bids, if any, and
either readvertise or sell the bonds at private sale.
13935. (a) All premiums and accrued interest received from the sale
of the bonds shall be deposited with the district treasurer in a
special bond service fund to be used for the payment of the principal
of and interest on the bonds, and the remainder of the proceeds of
the bonds shall be placed to the credit of the proper improvement
fund and applied exclusively to the purpose and object recited in the
proposition approved by the voters.
(b) When the purpose and object have been accomplished, any moneys
remaining in the improvement fund shall be transferred to the
special bond service fund. When the purpose and object have been
accomplished and all principal and interest on the bonds have been
paid, any balance of money then remaining shall be transferred to the
general fund of the district.
13936. Any general obligation bonds issued by a district have the
same force, value, and use as bonds issued by a city and the bonds
and the interest on the bonds are exempt from all taxation within the
State of California.
13937. A district shall not incur a bonded indebtedness in excess
of 10 percent of the assessed value of all taxable property within
the district.
13938. (a) After incurring a general obligation indebtedness, and
annually thereafter until the indebtedness is paid or until there is
a sum in the district treasury in a special bond service fund set
apart for that purpose sufficient to meet all payments of principal
and interest on that indebtedness as it becomes due, the district
board shall adopt a resolution directing the county tax collector to
levy a tax on behalf of the district.
(b) The tax shall be in addition to all other taxes levied by and
for the district and shall be collected in the same manner and at the
same time as county taxes. A county may recover its costs as
provided by Section 29142 of the Government Code.
(c) The rate of the tax shall be fixed to result in proceeds which
are sufficient to pay any principal and interest which will become
due before the next proceeds of a tax to be levied will be available.
13925. Whenever a district board determines that it is necessary to
incur a general obligation bonded indebtedness for the acquisition
or construction of any real property or other capital expense or for
funding or refunding of any outstanding indebtedness, the district
board shall adopt a resolution making determinations and calling an
election on a proposition to incur indebtedness and to issue general
obligation bonds.
13926. The resolution shall state:
(a) The purpose for which the proposed debt is to be incurred,
which may include expenses for the authorization, issuance, and sale
of bonds.
(b) The amount of debt to be incurred.
(c) The maximum term of the bonds, not to exceed 30 years.
(d) The maximum rate of interest to be paid, not to exceed the
maximum rate permitted pursuant to Article 7 (commencing with Section
53530) of Chapter 3 of Part 1 of Division 2 of Title 5 of the
Government Code.
(e) The measure to be submitted to the voters.
(f) The date the election will be held.
(g) Any other matters that are required pursuant to the Uniform
District Election Law, Part 4 (commencing with Section 10500) of
Division 10 of the Elections Code.
13927. The election shall be conducted pursuant to the Uniform
District Election Law, Part 4 (commencing with Section 10500) of
Division 10 of the Elections Code.
13928. If two-thirds of voters voting upon the proposition favor
incurring the indebtedness and issuing the bonds, the district board
may adopt resolutions to issue bonds for all or any part of the
amount of the indebtedness.
13929. The district board may provide for the issuance of bonds in
any amounts, in any series, and on any terms, provided that they do
not exceed the limits approved by the voters.
13930. The district board shall adopt a resolution prescribing the
form and denomination of the bonds and any coupons. The resolution
shall specify the dates on which all or any part of the principal
shall become due and payable. The payment of the first installment or
principal may be deferred for a maximum period not to exceed five
years from the date on which the district board issues the first
bonds or first bonds in each series.
13931. The district board may provide for the call and redemption
of bonds before their maturity at times and prices and upon any other
terms as it specifies. A bond shall not be subject to call or
redemption before maturity unless it contains a recital to that
effect or unless a statement to that effect is printed on it.
13932. The principal and interest of the bonds shall be payable in
lawful money of the United States at the office of the district
treasurer or any other place, at the option of the bondholder.
13933. (a) The bonds shall be dated, numbered consecutively, and be
signed by the president of the district board and the district
treasurer. The district treasurer shall sign any coupons. Any
signatures or countersignatures may be mechanically reproduced by any
means, except that one of the signatures shall be signed by hand.
(b) If the president of the district board or the district
treasurer whose signature appears on a bond or coupon ceases to hold
that office before the delivery of the bonds or the coupons to the
purchaser, the signature is nevertheless valid and sufficient for any
purpose as if the president or treasurer had remained in office
until the delivery of the bonds or coupons.
13934. (a) Before selling the bonds or coupons, the district board
shall give notice inviting sealed bids. At a minimum, the district
board shall publish notice at least once in a newspaper of general
circulation in the district at least 10 days before the deadline for
receiving the bids.
(b) The district board shall award the sale of the bonds to the
highest responsible bidder.
(c) If the district board does not receive any bids or if it
determines that the bids received are not satisfactory as to price or
responsibility of the bidders, it may reject all bids, if any, and
either readvertise or sell the bonds at private sale.
13935. (a) All premiums and accrued interest received from the sale
of the bonds shall be deposited with the district treasurer in a
special bond service fund to be used for the payment of the principal
of and interest on the bonds, and the remainder of the proceeds of
the bonds shall be placed to the credit of the proper improvement
fund and applied exclusively to the purpose and object recited in the
proposition approved by the voters.
(b) When the purpose and object have been accomplished, any moneys
remaining in the improvement fund shall be transferred to the
special bond service fund. When the purpose and object have been
accomplished and all principal and interest on the bonds have been
paid, any balance of money then remaining shall be transferred to the
general fund of the district.
13936. Any general obligation bonds issued by a district have the
same force, value, and use as bonds issued by a city and the bonds
and the interest on the bonds are exempt from all taxation within the
State of California.
13937. A district shall not incur a bonded indebtedness in excess
of 10 percent of the assessed value of all taxable property within
the district.
13938. (a) After incurring a general obligation indebtedness, and
annually thereafter until the indebtedness is paid or until there is
a sum in the district treasury in a special bond service fund set
apart for that purpose sufficient to meet all payments of principal
and interest on that indebtedness as it becomes due, the district
board shall adopt a resolution directing the county tax collector to
levy a tax on behalf of the district.
(b) The tax shall be in addition to all other taxes levied by and
for the district and shall be collected in the same manner and at the
same time as county taxes. A county may recover its costs as
provided by Section 29142 of the Government Code.
(c) The rate of the tax shall be fixed to result in proceeds which
are sufficient to pay any principal and interest which will become
due before the next proceeds of a tax to be levied will be available.
