8570. The legislative body of any city may determine that serial
bonds, term bonds, or both, shall be issued as provided in this
division to represent and be secured by assessments to pay the cost
of any work or improvement in any of the streets, avenues, lanes,
alleys, courts, places, or public ways of the city, or in, over, or
through any property or rights-of-way owned by the city authorized by
the Improvement Act of 1911 (Division 7 (commencing with Section
5000)), or by the Municipal Improvement Act of 1913 (Division 12
(commencing with Section 10000)), or to pay the cost of any other
work or improvement charged and assessed upon real property pursuant
to any other law. The legislative body may not issue bonds secured by
assessments levied pursuant to subdivision (b) of Section 10312 to
pay administrative costs.
8571. If the legislative body determines that bonds shall be issued
as provided in this division to represent the expense of any
proposed work or improvement, it shall, in the resolution of
intention to do the work, do all of the following:
(a) Declare that bonds shall be issued pursuant to Division 10
(commencing with Section 8500) to represent the expenses of the
proposed work or improvement.
(b) Specify the rate or maximum rate of interest which the bonds
shall bear.
(c) State the determination of the city pursuant to Section 8769.
8571.3. (a) The legislative body may determine that bonds issued
pursuant to this division shall not be subject to refunding pursuant
to the procedures of Division 11 (commencing with Section 9000) or
Division 11.5 (commencing with Section 9500) until a date specified
in the format of the bond pursuant to Section 8652. This date shall
not be more than ten years after the issuance date of the bond.
(b) This determination shall not apply to, or in any manner limit,
advancement of the maturity of any bond or bonds pursuant to the
procedures of Part 8 (commencing with Section 8680), Part 9
(commencing with Section 8700), Part 11 (commencing with Section
8750), or Part 11.1 (commencing with Section 8760).
(c) This determination shall not apply to, or in any manner limit,
the redemption and payment of any bonds pursuant to subsequent
assessment proceedings which provide for the payment in full of all
amounts necessary to eliminate any fixed special assessment liens
previously imposed upon any assessment parcel included in the new
assessment district.
8571.5. The legislative body may determine that bonds issued
pursuant to this division may be refunded under specified conditions.
If the legislative body so determines, it shall, in the resolution
of intention to do the work, include all of the following:
(a) A declaration that bonds proposed in the resolution may be
refunded.
(b) The specific conditions under which the bonds may be
refunded, including a maximum interest rate and maximum number of
years to maturity of the refunding bonds.
(c) A statement that any adjustment to assessments resulting from
the refunding will be done on a pro rata basis.
The refunding shall be accomplished pursuant to Division 11.5
(commencing with Section 9500), except that, if, following the filing
of the report specified in Section 9523 and any subsequent
modifications of the report, the legislative body finds that each of
the conditions specified in the resolution of intention is satisfied
and that the adjustments to assessments are on a pro rata basis, the
legislative body may approve and confirm the report and may, without
further proceedings, authorize, issue, and sell the refunding bonds
pursuant to Chapter 3 (commencing with Section 9600) of Division
11.5.
8572. A similar description of the bonds shall be inserted in the
assessment issued by the street superintendent to the contractor
under the Improvement Act of 1911, or in the assessment prepared by
the street superintendent and in the notice of recording the
assessment if the work is done under the Municipal Improvement Act of
1913 or other law.
8573. The bond declaration in the resolution of intention,
assessment, and notice of recording the assessment may be
substantially in the following form:
"Notice is hereby given that serial bonds to represent unpaid
assessments, and to bear interest at the rate of not to exceed ____
percent per annum, will be issued hereunder in the manner provided by
Division 10 of the Streets and Highways Code, the Improvement Bond
Act of 1915, and the last installment of such bonds shall mature ____
years from the second day of September next succeeding 12 months
from their date."
8570. The legislative body of any city may determine that serial
bonds, term bonds, or both, shall be issued as provided in this
division to represent and be secured by assessments to pay the cost
of any work or improvement in any of the streets, avenues, lanes,
alleys, courts, places, or public ways of the city, or in, over, or
through any property or rights-of-way owned by the city authorized by
the Improvement Act of 1911 (Division 7 (commencing with Section
5000)), or by the Municipal Improvement Act of 1913 (Division 12
(commencing with Section 10000)), or to pay the cost of any other
work or improvement charged and assessed upon real property pursuant
to any other law. The legislative body may not issue bonds secured by
assessments levied pursuant to subdivision (b) of Section 10312 to
pay administrative costs.
8571. If the legislative body determines that bonds shall be issued
as provided in this division to represent the expense of any
proposed work or improvement, it shall, in the resolution of
intention to do the work, do all of the following:
(a) Declare that bonds shall be issued pursuant to Division 10
(commencing with Section 8500) to represent the expenses of the
proposed work or improvement.
(b) Specify the rate or maximum rate of interest which the bonds
shall bear.
(c) State the determination of the city pursuant to Section 8769.
8571.3. (a) The legislative body may determine that bonds issued
pursuant to this division shall not be subject to refunding pursuant
to the procedures of Division 11 (commencing with Section 9000) or
Division 11.5 (commencing with Section 9500) until a date specified
in the format of the bond pursuant to Section 8652. This date shall
not be more than ten years after the issuance date of the bond.
(b) This determination shall not apply to, or in any manner limit,
advancement of the maturity of any bond or bonds pursuant to the
procedures of Part 8 (commencing with Section 8680), Part 9
(commencing with Section 8700), Part 11 (commencing with Section
8750), or Part 11.1 (commencing with Section 8760).
(c) This determination shall not apply to, or in any manner limit,
the redemption and payment of any bonds pursuant to subsequent
assessment proceedings which provide for the payment in full of all
amounts necessary to eliminate any fixed special assessment liens
previously imposed upon any assessment parcel included in the new
assessment district.
8571.5. The legislative body may determine that bonds issued
pursuant to this division may be refunded under specified conditions.
If the legislative body so determines, it shall, in the resolution
of intention to do the work, include all of the following:
(a) A declaration that bonds proposed in the resolution may be
refunded.
(b) The specific conditions under which the bonds may be
refunded, including a maximum interest rate and maximum number of
years to maturity of the refunding bonds.
(c) A statement that any adjustment to assessments resulting from
the refunding will be done on a pro rata basis.
The refunding shall be accomplished pursuant to Division 11.5
(commencing with Section 9500), except that, if, following the filing
of the report specified in Section 9523 and any subsequent
modifications of the report, the legislative body finds that each of
the conditions specified in the resolution of intention is satisfied
and that the adjustments to assessments are on a pro rata basis, the
legislative body may approve and confirm the report and may, without
further proceedings, authorize, issue, and sell the refunding bonds
pursuant to Chapter 3 (commencing with Section 9600) of Division
11.5.
8572. A similar description of the bonds shall be inserted in the
assessment issued by the street superintendent to the contractor
under the Improvement Act of 1911, or in the assessment prepared by
the street superintendent and in the notice of recording the
assessment if the work is done under the Municipal Improvement Act of
1913 or other law.
8573. The bond declaration in the resolution of intention,
assessment, and notice of recording the assessment may be
substantially in the following form:
"Notice is hereby given that serial bonds to represent unpaid
assessments, and to bear interest at the rate of not to exceed ____
percent per annum, will be issued hereunder in the manner provided by
Division 10 of the Streets and Highways Code, the Improvement Bond
Act of 1915, and the last installment of such bonds shall mature ____
years from the second day of September next succeeding 12 months
from their date."
8570. The legislative body of any city may determine that serial
bonds, term bonds, or both, shall be issued as provided in this
division to represent and be secured by assessments to pay the cost
of any work or improvement in any of the streets, avenues, lanes,
alleys, courts, places, or public ways of the city, or in, over, or
through any property or rights-of-way owned by the city authorized by
the Improvement Act of 1911 (Division 7 (commencing with Section
5000)), or by the Municipal Improvement Act of 1913 (Division 12
(commencing with Section 10000)), or to pay the cost of any other
work or improvement charged and assessed upon real property pursuant
to any other law. The legislative body may not issue bonds secured by
assessments levied pursuant to subdivision (b) of Section 10312 to
pay administrative costs.
8571. If the legislative body determines that bonds shall be issued
as provided in this division to represent the expense of any
proposed work or improvement, it shall, in the resolution of
intention to do the work, do all of the following:
(a) Declare that bonds shall be issued pursuant to Division 10
(commencing with Section 8500) to represent the expenses of the
proposed work or improvement.
(b) Specify the rate or maximum rate of interest which the bonds
shall bear.
(c) State the determination of the city pursuant to Section 8769.
8571.3. (a) The legislative body may determine that bonds issued
pursuant to this division shall not be subject to refunding pursuant
to the procedures of Division 11 (commencing with Section 9000) or
Division 11.5 (commencing with Section 9500) until a date specified
in the format of the bond pursuant to Section 8652. This date shall
not be more than ten years after the issuance date of the bond.
(b) This determination shall not apply to, or in any manner limit,
advancement of the maturity of any bond or bonds pursuant to the
procedures of Part 8 (commencing with Section 8680), Part 9
(commencing with Section 8700), Part 11 (commencing with Section
8750), or Part 11.1 (commencing with Section 8760).
(c) This determination shall not apply to, or in any manner limit,
the redemption and payment of any bonds pursuant to subsequent
assessment proceedings which provide for the payment in full of all
amounts necessary to eliminate any fixed special assessment liens
previously imposed upon any assessment parcel included in the new
assessment district.
8571.5. The legislative body may determine that bonds issued
pursuant to this division may be refunded under specified conditions.
If the legislative body so determines, it shall, in the resolution
of intention to do the work, include all of the following:
(a) A declaration that bonds proposed in the resolution may be
refunded.
(b) The specific conditions under which the bonds may be
refunded, including a maximum interest rate and maximum number of
years to maturity of the refunding bonds.
(c) A statement that any adjustment to assessments resulting from
the refunding will be done on a pro rata basis.
The refunding shall be accomplished pursuant to Division 11.5
(commencing with Section 9500), except that, if, following the filing
of the report specified in Section 9523 and any subsequent
modifications of the report, the legislative body finds that each of
the conditions specified in the resolution of intention is satisfied
and that the adjustments to assessments are on a pro rata basis, the
legislative body may approve and confirm the report and may, without
further proceedings, authorize, issue, and sell the refunding bonds
pursuant to Chapter 3 (commencing with Section 9600) of Division
11.5.
8572. A similar description of the bonds shall be inserted in the
assessment issued by the street superintendent to the contractor
under the Improvement Act of 1911, or in the assessment prepared by
the street superintendent and in the notice of recording the
assessment if the work is done under the Municipal Improvement Act of
1913 or other law.
8573. The bond declaration in the resolution of intention,
assessment, and notice of recording the assessment may be
substantially in the following form:
"Notice is hereby given that serial bonds to represent unpaid
assessments, and to bear interest at the rate of not to exceed ____
percent per annum, will be issued hereunder in the manner provided by
Division 10 of the Streets and Highways Code, the Improvement Bond
Act of 1915, and the last installment of such bonds shall mature ____
years from the second day of September next succeeding 12 months
from their date."
