California Code
PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES
CHAPTER 6 - Revenue Bond Law of 1941

ARTICLE 1 - Definitions and General Provisions

Section 54300. - 54300. This chapter may be cited as the Revenue Bond...

Section 54301. - 54301. This chapter is full authority for the issuance of...

Section 54301.1. - 54301.1. This chapter is intended to provide to any local...

Section 54302. - 54302. The powers conferred by this chapter are in addition...

Section 54303. - 54303. If this chapter is inconsistent with any other law,...

Section 54304. - 54304. This chapter shall be liberally construed to promote its...

Section 54305. - 54305. If the jurisdiction of the legislative body to order...

Section 54306. - 54306. The terms defined in this article have the meanings...

Section 54307. - 54307. “Local agency” means any city, county, city and county,...

Section 54307.1. - 54307.1. “Local agency” also means any entity or agency created...

Section 54307.2. - 54307.2. “Local agency” also means any joint powers agency created...

Section 54307.3. - 54307.3. “Local agency” also means any entity or agency created...

Section 54307.4. - 54307.4. Issuance of bonds for the construction of facilities for...

Section 54308. - 54308. “Law” includes the charter of a local agency. (Added...

Section 54309. - 54309. “Enterprise” means a revenue-producing improvement, building, system, plant, works,...

Section 54309.1. - 54309.1. “Enterprise” includes, but is not limited to, all parts...

Section 54310. - 54310. “Enterprise” does not include, and this chapter does not...

Section 54311. - 54311. Subject to the limitations of Sections 54309 and 54310,...

Section 54312. - 54312. “Improve” means reconstruct, replace, extend, repair, better, equip, develop,...

Section 54313. - 54313. “Bonds” means bonds, notes, or other obligations issued by...

Section 54314. - 54314. “Charges” includes fees, tolls, rates, and rentals. (Added by...

Section 54315. - 54315. “Revenues” mean all charges received for, and all other...

Section 54316. - 54316. “Holder of bonds” or “bondholder” means: (a) The bearer...

ARTICLE 2 - Powers of a Local Agency

Section 54340. - 54340. A local agency may acquire any enterprise by gift,...

Section 54341. - 54341. A local agency may construct or improve any enterprise...

Section 54342. - 54342. A local agency may operate, maintain, repair, or manage...

Section 54343. - 54343. The local agency may adopt reasonable rules or regulations...

Section 54344. - 54344. A local agency may prescribe, revise, and collect charges...

Section 54345. - 54345. The local agency may provide that charges for any...

Section 54346. - 54346. (a) If all or part of the bill is...

Section 54346.1. - 54346.1. The local agency may enter into a written contract...

Section 54346.2. - 54346.2. If all or any part of the bill of...

Section 54346.3. - 54346.3. The local agency may enter into a written contract...

Section 54346.4. - 54346.4. (a) A local agency whose jurisdiction is geographically coextensive...

Section 54347. - 54347. The local agency may provide for the collection of...

Section 54348. - 54348. The local agency may provide for a basic penalty...

Section 54349. - 54349. The local agency may issue bonds for funds to...

Section 54350. - 54350. A local agency has police power over any enterprise...

Section 54351. - 54351. If the local agency acquires, constructs, or improves a...

Section 54352. - 54352. If the local agency acquires, constructs, or improves a...

Section 54353. - 54353. As a remedy established for the collection of due...

Section 54354. - 54354. A local agency that acquires, constructs, or improves a...

Section 54354.5. - 54354.5. A resolution or ordinance prescribing or revising charges for...

Section 54355. - 54355. The lien provided by Section 54354 shall attach when...

Section 54356. - 54356. As a separate, distinct and cumulative remedy established for...

Section 54357. - 54357. Remedies for collecting and enforcing rates and charges set...

Section 54358. - 54358. The local agency may execute all instruments, perform all...

ARTICLE 3 - Authorization of Bonds

Section 54380. - 54380. By resolution of its legislative body to take effect...

Section 54381. - 54381. By a majority of all members, the legislative body...

Section 54382. - 54382. The resolution shall: (a) State the purpose for which...

Section 54383. - 54383. The proposition may be submitted at an election for...

Section 54384. - 54384. The resolution shall state that the bonds are to...

Section 54385. - 54385. The resolution shall be published once a day for...

Section 54386. - 54386. The votes of a majority of all the voters...

Section 54387. - 54387. If the issuance of the bonds is authorized at...

ARTICLE 4 - Provisions Relating to Bonds

Section 54400. - 54400. The legislative body may determine and provide in the...

Section 54401. - 54401. If the legislative body divides any issue of bonds...

Section 54402. - 54402. The legislative body may determine and provide in the...

Section 54403. - 54403. Any premium payable on the bonds shall be in...

Section 54404. - 54404. The bonds are not subject to call or redemption...

Section 54405. - 54405. The resolution may provide the terms and conditions upon...

Section 54406. - 54406. The resolution may provide for the replacement of mutilated,...

Section 54407. - 54407. By resolution, the legislative body may provide the manner...

Section 54408. - 54408. Pending the preparation of the definitive bonds, interim receipts...

Section 54409. - 54409. In the absence of an express recital on its...

Section 54410. - 54410. In determining the amount of bonds to be issued,...

Section 54411. - 54411. Bonds bearing the signature of officers of the local...

Section 54412. - 54412. The validity of the authorization and issuance of the...

Section 54413. - 54413. Any resolution authorizing bonds may provide that the bonds...

Section 54414. - 54414. Reference on the face of the bonds to the...

Section 54415. - 54415. Each taker and subsequent holder of the bonds and...

Section 54416. - 54416. The legislative body may issue and sell the bonds...

Section 54417. - 54417. The legislative body may sell the bonds in installments...

Section 54418. - 54418. The legislative body may sell the bonds at a...

Section 54419. - 54419. The sale price of all bonds sold shall include...

Section 54420. - 54420. The bonds are special obligations of the local agency...

Section 54421. - 54421. By resolution the legislative body may pledge, place a...

Section 54422. - 54422. The payment of interest on and principal of the...

Section 54423. - 54423. The revenues and any interest earned on the revenues...

Section 54424. - 54424. So long as any bonds or interest thereon are...

Section 54425. - 54425. If the interest and principal of the bonds and...

Section 54426. - 54426. In its discretion the legislative body may provide in...

Section 54427. - 54427. Bonds of the same issue shall be equally secured...

Section 54428. - 54428. The general fund of the local agency is not...

Section 54429. - 54429. The credit or taxing power of the local agency...

Section 54430. - 54430. The holder of the bonds or coupons shall not...

Section 54431. - 54431. The principal of and interest on the bonds and...

Section 54432. - 54432. Every bond shall recite in substance that the principal...

Section 54435. - 54435. The bonds and interest or income from the bonds...

ARTICLE 5 - Additional Powers to Secure Bonds

Section 54460. - 54460. In the resolution authorizing the bonds, the legislative body...

Section 54461. - 54461. The legislative body may provide limitations on: (a) The...

Section 54462. - 54462. The legislative body may provide for the amount and...

Section 54463. - 54463. It may provide for other insurance carried by private...

Section 54464. - 54464. The legislative body may provide for the use and...

Section 54465. - 54465. Without limiting the authority granted, the legislative body may...

Section 54466. - 54466. The legislative body may also specifically provide that the...

Section 54467. - 54467. The legislative body may insert in the resolution covenants...

Section 54468. - 54468. It may insert covenants against the entering into any...

Section 54469. - 54469. The legislative body may provide for events of default...

Section 54470. - 54470. The legislative body may provide for the rights, liabilities,...

Section 54471. - 54471. The legislative body may provide for the vesting in...

Section 54472. - 54472. The legislative body may provide for the terms upon...

Section 54473. - 54473. The legislative body may provide in the resolution for...

Section 54474. - 54474. Any resolution containing such a procedure may also provide...

Section 54475. - 54475. The resolution shall specifically state the effect of amendment...

Section 54476. - 54476. The legislative body may provide for the purchase out...

Section 54477. - 54477. The legislative body may provide for any other acts...

Section 54478. - 54478. Except as hereinafter provided in this section, this chapter...

ARTICLE 6 - Duties of Local Agencies

Section 54510. - 54510. The duties prescribed by this article shall be performed...

Section 54511. - 54511. Such performance is of the essence of the local...

Section 54512. - 54512. The local agency shall pay or cause to be...

Section 54513. - 54513. Subject to the provisions of Section 54516.1, the local...

Section 54514. - 54514. Subject to the provisions of Section 54516.1, the local...

Section 54515. - 54515. After making allowances for contingencies and error in the...

Section 54516. - 54516. Subject to the provisions of Section 54516.1, the local...

Section 54516.1. - 54516.1. Subject to the provisions and limitations of any resolution...

Section 54516.2. - 54516.2. The local agency shall let contracts made by it...

Section 54516.3. - 54516.3. If the enterprise is a hospital, the local agency...

Section 54517. - 54517. The local agency shall preserve and protect the security...

Section 54518. - 54518. In order to fully preserve and protect the priority...

Section 54519. - 54519. The local agency shall hold in trust the revenues...

Section 54520. - 54520. The local agency shall keep proper books of record...

Section 54521. - 54521. At all times the books shall be subject to...

Section 54522. - 54522. The local agency shall cause to be published a...

Section 54523. - 54523. In the resolution authorizing the bonds, the local agency...

Section 54524. - 54524. The duties set forth in this article do not...

ARTICLE 7 - Fiscal Agent

Section 54550. - 54550. In connection with the issuance of bonds a local...

Section 54551. - 54551. The local agency may: (a) Provide for the powers,...

Section 54552. - 54552. The local agency may authorize the fiscal agent to...

ARTICLE 8 - Validating Proceedings

Section 54580. - 54580. An action to determine the validity of bonds may...

ARTICLE 9 - Contributions

Section 54610. - 54610. Notwithstanding any provision of this chapter to the contrary,...

Section 54611. - 54611. The local agency may enter into contracts and cooperate...

Section 54612. - 54612. The legislative body may do any and all things...

Section 54613. - 54613. The legislative body may accept contributions from, contract, and...

Section 54614. - 54614. The contributions may consist of money, rights of way,...

Section 54615. - 54615. The local agency may also make contributions, for any...

ARTICLE 10 - Remedies of Bondholders

Section 54640. - 54640. Subject to any contractual limitations binding upon a bondholder...

Section 54641. - 54641. Such contractual limitations include, but are not limited to,...

Section 54642. - 54642. By mandamus or other suit or proceeding at law...

Section 54643. - 54643. By a suit in equity a bondholder or his...

Section 54644. - 54644. By suit in equity a bondholder or his trustee...

Section 54645. - 54645. The remedies conferred upon any bondholder or his trustee...

Section 54646. - 54646. A waiver of any default or breach of duty...

Section 54647. - 54647. The delay or omission of any bondholder or his...

Section 54648. - 54648. Every substantive right and remedy conferred upon the bondholders...

Section 54649. - 54649. If a suit, action, or proceeding to enforce any...

ARTICLE 11 - Refunding Bonds

Section 54660. - 54660. A local agency may provide for the issuance, sale,...

Section 54661. - 54661. All provisions of this chapter applicable to the issuance...

Section 54662. - 54662. Funding or refunding bonds may be issued in a...

ARTICLE 11.5 - Revenue Bond Anticipation Notes

Section 54664. - 54664. When the legislative body deems it in the best...

Section 54665. - 54665. All notes issued pursuant to this article and any...

Section 54666. - 54666. The principal of, and interest on, such notes may...

Section 54667. - 54667. Notes may be issued pursuant to this article in...

ARTICLE 12 - Annexation and Exclusion

Section 54670. - 54670. Territory which has become annexed to a local agency...

Section 54671. - 54671. Territory which has been withdrawn from a local agency...

Section 54672. - 54672. A city to which any territory has been annexed,...

ARTICLE 13 - Construction

Section 54700. - 54700. If any section, subsection, sentence, clause, or phrase of...