California Code
DIVISION 15 - RECLAMATION DISTRICTS
PART 8 - BONDS AND REFUNDING BONDS

CHAPTER 1 - General Provisions

ARTICLE 1 - Form

Section 52100. - 52100. The term bonds, as used in this chapter, includes...

Section 52101. - 52101. Bonds shall be of the denomination of not less...

Section 52102. - 52102. Bonds shall be signed by the president and attested...

Section 52103. - 52103. Bonds shall be numbered consecutively in the order of...

Section 52104. - 52104. Bonds shall bear interest at a rate not to...

Section 52105. - 52105. Coupons for each installment of interest shall be attached...

Section 52106. - 52106. The principal of bonds shall be made payable on...

ARTICLE 2 - Validating Proceedings

Section 52120. - 52120. An action to determine the validity of bonds may...

ARTICLE 3 - Sale of Bonds

Section 52150. - 52150. The county treasurer shall publish notice of the sale...

Section 52151. - 52151. The notice shall state that the county treasurer will...

Section 52152. - 52152. At the time stated in the notice of sale,...

Section 52153. - 52153. The date fixed for the sale of refunding bonds...

Section 52154. - 52154. The county treasurer may, and upon written request of...

Section 52155. - 52155. A record of the sale shall be made upon...

ARTICLE 4 - Callable Bonds

Section 52170. - 52170. The board may provide at any time before the...

Section 52171. - 52171. At least 120 days prior to any interest payment...

Section 52172. - 52172. Less than all of the bonds of any maturity...

Section 52173. - 52173. The order calling bonds shall specify the bonds to...

Section 52174. - 52174. A certified copy of the order shall be delivered...

Section 52175. - 52175. The county treasurer shall add the principal of the...

Section 52176. - 52176. The county treasurer, in his notice of call of...

Section 52177. - 52177. The county treasurer shall publish, in a newspaper of...

Section 52178. - 52178. The notice of the call of bonds shall contain...

Section 52179. - 52179. In the event the bonds are callable at a...

ARTICLE 5 - Bond Fund

Section 52190. - 52190. All money, including interest and penalties, derived by sale,...

Section 52191. - 52191. The county treasurer shall charge to the bond fund...

Section 52192. - 52192. All claims by the county treasurer and the expenditures...

Section 52193. - 52193. The county treasurer shall transfer the balance remaining in...

CHAPTER 2 - Bonds

ARTICLE 1 - Issuance

Section 52200. - 52200. All provisions of Chapter 1 of this part are...

Section 52201. - 52201. When any assessment, except an operation and maintenance assessment,...

Section 52202. - 52202. At the special election the board shall submit to...

Section 52203. - 52203. If a majority of the votes cast at the...

Section 52204. - 52204. If the board deems it advisable, it may order...

Section 52205. - 52205. The county treasurer shall place the bonds to the...

Section 52206. - 52206. The bonds shall be payable serially within 20 years...

Section 52207. - 52207. The bonds shall be substantially in the following form:...

Section 52208. - 52208. The interest coupons may be substantially in the following...

ARTICLE 2 - Sale

Section 52220. - 52220. When directed by resolution of the board, the county...

Section 52221. - 52221. The bonds shall be sold in the manner provided...

Section 52222. - 52222. The county treasurer may accept in full or partial...

Section 52223. - 52223. When bonds have been authorized prior to payment of...

Section 52224. - 52224. The reduction and cancellation of bonds not to be...

Section 52225. - 52225. The proceeds from the sale of the bonds shall...

Section 52226. - 52226. A sale and delivery of the bonds by the...

Section 52227. - 52227. The board may draw demand warrants upon the county...

Section 52228. - 52228. Bonds issued pursuant to this chapter which have been...

ARTICLE 3 - Additional Series

Section 52240. - 52240. When any district, having authorized the issuance of a...

Section 52241. - 52241. The provisions of this part relative to the original...

ARTICLE 4 - Exchange

Section 52260. - 52260. Any district which has issued bonds of different denominations,...

Section 52261. - 52261. Exchange bonds shall be executed by all persons required...

Section 52262. - 52262. Bonds deposited for exchange shall be canceled by the...

ARTICLE 5 - Cancellation

Section 52280. - 52280. The board, by an order entered in its minutes,...

Section 52281. - 52281. A certified copy of the order shall be filed...

Section 52282. - 52282. Upon receipt of the order, the county treasurer to...

Section 52283. - 52283. Cancellation of unsold or unissued bonds shall not affect...

Section 52284. - 52284. When a portion of any bond issue is canceled,...

Section 52285. - 52285. Calls of assessments pursuant to Section 52284 shall be...

ARTICLE 6 - Miscellaneous

Section 52300. - 52300. The provisions of this division as to the procedure...

Section 52301. - 52301. In all cases where it is provided in this...

Section 52302. - 52302. Bonds and interest coupons which are, without bad faith...

CHAPTER 2.5 - Revenue Bonds

Section 52400. - 52400. As an alternate to any other method of financing...

Section 52401. - 52401. The proceedings for the issuance of revenue bonds shall...

Section 52402. - 52402. A district may, by resolution or indenture, prescribe and...

CHAPTER 3 - General Refunding Bonds

ARTICLE 1 - Issuance and Form

Section 52500. - 52500. A district may refund the whole or any part...

Section 52501. - 52501. All proceedings for the issuance of refunding bonds commenced...

Section 52502. - 52502. When the board determines that it would be for...

Section 52503. - 52503. At the election the board shall submit to the...

Section 52504. - 52504. The order for the election shall state the maturities...

Section 52505. - 52505. If a majority of the votes cast at the...

Section 52506. - 52506. The principal of the refunding bonds shall not exceed...

Section 52507. - 52507. The principal and interest of refunding bonds shall be...

Section 52508. - 52508. Refunding bonds shall be payable serially within at least...

Section 52509. - 52509. Refunding bonds may be in substantially the following form:...

Section 52510. - 52510. The interest coupons may be substantially in the following...

ARTICLE 2 - Exchange

Section 52530. - 52530. The board, with the consent of the holders of...

Section 52531. - 52531. The aggregate principal amount of the refunding bonds delivered...

Section 52532. - 52532. The bonds delivered to the district in exchange for...

Section 52533. - 52533. The outstanding bonds may be refunded pursuant to this...

ARTICLE 3 - Sale

Section 52550. - 52550. The board, in lieu of exchanging refunding bonds for...

Section 52551. - 52551. The board, having adopted a resolution of sale, may...

Section 52552. - 52552. The resolution shall direct the county treasurer to sell...

Section 52553. - 52553. The refunding bonds shall be sold by the county...

Section 52554. - 52554. A sale by the county treasurer is conclusive evidence...

Section 52555. - 52555. Refunding bonds which are not sold when offered for...

Section 52556. - 52556. The proceeds of the sale of refunding bonds shall...

Section 52557. - 52557. The board shall sell or exchange refunding bonds only...

Section 52558. - 52558. If any district authorized the issuance of refunding bonds...

Section 52559. - 52559. If the board, in its resolution, determines that the...

Section 52560. - 52560. The warrant shall be drawn for an amount equal...

Section 52561. - 52561. When the warrant has been drawn, there shall be...

ARTICLE 4 - Collection and Disposition of Supplemental Assessment

Section 52580. - 52580. The board, in lieu of drawing a warrant pursuant...

Section 52581. - 52581. If the landowners in a district voluntarily pay to...

Section 52582. - 52582. If a sale of the refunding bonds is consummated...

Section 52583. - 52583. The county treasurer shall use the proceeds of the...

Section 52584. - 52584. Any surplus in the supplemental assessment fund after the...

ARTICLE 5 - Cancellation

Section 52600. - 52600. Refunding bonds remaining in the hands of the county...

Section 52601. - 52601. If, upon the expiration of one year after an...

Section 52602. - 52602. The cancellation will not affect the validity of the...

CHAPTER 4 - Alternate Method for Refunding Bonds

ARTICLE 1 - Issuance and Forms

Section 52700. - 52700. The board may cause refunding bonds to be issued...

Section 52701. - 52701. Refunding bonds issued pursuant to this chapter shall be...

Section 52703. - 52703. The board shall call and conduct an election of...

Section 52704. - 52704. Prior to the issuance of any refunding bonds pursuant...

Section 52705. - 52705. The refunding bonds may be in substantially the following...

Section 52706. - 52706. The interest coupons to be attached to the refunding...

Section 52707. - 52707. An action to determine the validity of refunding bonds...

Section 52709. - 52709. Refunding bonds issued pursuant to this chapter may be...

Section 52710. - 52710. The outstanding bonds refunded or exchanged shall be immediately...

Section 52711. - 52711. The maturity of the refunding bonds issued pursuant to...

Section 52712. - 52712. An issue of refunding bonds issued pursuant to this...

Section 52713. - 52713. The board may make expenditures, or incur indebtedness, and...

Section 52714. - 52714. The authority to issue refunding bonds pursuant to this...

ARTICLE 2 - Sinking Fund

Section 52730. - 52730. The board, prior to, or at the time of,...

Section 52731. - 52731. The county treasurer, at least 90 days before the...

Section 52732. - 52732. Ninety days, or more, before the first day of...

Section 52735. - 52735. In any year in which the district has surplus...

Section 52736. - 52736. The board may invest the money in the sinking...

Section 52737. - 52737. The proceeds of sale of any bonds in which...

ARTICLE 3 - Redemption

Section 52750. - 52750. When the sinking fund contains at least ten thousand...

Section 52751. - 52751. The notice shall state the amount available for the...

Section 52752. - 52752. All proposals shall be opened at the office of...

Section 52753. - 52753. Any or all proposals may be rejected by the...

Section 52754. - 52754. If no bids are received, or if the bids...

Section 52755. - 52755. No proposal to sell bonds to the district at...

Section 52756. - 52756. All bonds purchased with sinking fund moneys shall forthwith...

Section 52757. - 52757. The board may, by resolution adopted prior to the...

Section 52758. - 52758. Notice of redemption of callable refunding bonds shall be...

Section 52759. - 52759. The first publication of the notice shall be not...

Section 52760. - 52760. Interest on refunding bonds declared to be callable shall...

CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States

Section 52850. - 52850. When there is an agreement between a district and...

Section 52851. - 52851. The money in the reserve fund shall be used...

Section 52852. - 52852. If the bond fund contains a sum derived from...

Section 52853. - 52853. The county treasurer shall call such part of the...

Section 52854. - 52854. The call shall be made at the time prescribed...

Section 52855. - 52855. The board may direct that the restoration of the...

Section 52856. - 52856. No call for the purpose of creating a reserve...

Section 52857. - 52857. The county treasurer may invest any money in the...

Section 52858. - 52858. Sales of bonds of the United States or of...

Section 52859. - 52859. The board of a district which has entered into...

Section 52860. - 52860. The county treasurer shall forthwith cancel all bonds purchased...

Section 52861. - 52861. No purchase of bonds shall be made pursuant to...

Section 52862. - 52862. No funds deposited pursuant to subdivision (b) of Section...