California Government Code ARTICLE 3 - Refunding Indebtedness

• Section 43720.
  The legislative body of any city, except a city and county, may provide for the funding or refunding of outstanding indebtedness pursuant to this article,...
• Section 43721.
  By a two-thirds vote of its number, the legislative body may fund or refund the indebtedness at, after, or before maturity and issue bonds of...
• Section 43722.
  The bonds shall be issued in denominations of not less than one hundred dollars ($100) nor more than one thousand dollars ($1,000) each, have not...
• Section 43723.
  The rate of interest during the entire term of the bonds need not be the same but different rates may be fixed for one or...
• Section 43724.
  The bonds shall be serial bonds, and not less than one-fortieth of the principal and interest on all sums unpaid shall be paid each year.(Added...
• Section 43725.
  The legislative body may fix a date for the earliest maturity of the principal of the bonds, not more than three years from the date...
• Section 43726.
  The bonds shall be payable in such money and at such places as the legislative body designates in the bonds.(Added by Stats. 1949, Ch. 79.)
• Section 43727.
  The bonds may be sold in the manner provided by the legislative body, to the highest bidder, at such price that the interest rate paid...
• Section 43728.
  The proceeds of any sale for cash shall be placed in the city treasury to the credit of the funding fund, and applied only to...
• Section 43729.
  Any proceeds of the refunding bonds remaining after the indebtedness has been paid shall be deposited in the fund established for the payment of principal...
• Section 43730.
  At the time of making the general tax levy after incurring the bonded indebtedness and annually thereafter until the bonds are paid or until there...
• Section 43731.
  If the earliest maturity of the refunding bonds is more than one year after the date of issuance, the legislative body shall levy and collect...
• Section 43732.
  The taxes shall be levied and collected as other city taxes, and are in addition to all other taxes. They shall be used only for...
• Section 43732.5.
  (a) Prior to the issuance by a city of bonds pursuant to this chapter, the legislative body may elect, by resolution, to guarantee payment on outstanding...
• Section 43733.
  Bonds to fund or refund the indebtedness shall not be issued unless authorized by the electors of the city voting at an election to be...
• Section 43734.
  The election shall be called and held pursuant to Article 1 of this chapter.(Added by Stats. 1949, Ch. 79.)
• Section 43735.
  The ordinance calling the election shall recite the object and purposes for which the bonded indebtedness is to be incurred.(Added by Stats. 1949, Ch. 79.)
• Section 43736.
  When it is proposed to refund any outstanding bonded indebtedness of a city upon terms which permit any number of the refunding bonds to mature...
• Section 43737.
  The proceeds from the sale of the bonds shall be applied by the treasurer to the satisfaction of the judgment or the refunding of the...
• Section 43738.
  If the refunding bonds are issued in whole or in part to refund before maturity an indebtedness evidenced by bonds, notes, or other evidences of...
• Section 43740.
  When sufficient money is in the funding fund to redeem one or more outstanding past due bonds, warrants, judgments, notes, or other evidences of indebtedness...
• Section 43741.
  At the same time the treasurer shall deposit in the post office a copy of the notice, enclosed in a sealed envelope, postage prepaid, addressed...
• Section 43742.
  If any bonds are authorized for funding or refunding before maturity any obligations which by their terms are subject to call and payment before maturity,...
• Section 43743.
  When any outstanding bonds, warrants, judgments, notes, or other evidences of indebtedness are surrendered and paid, the treasurer shall cancel them by endorsing on their...
• Section 43744.
  The treasurer shall keep a record of bonds, warrants, judgments, notes, or other evidences of indebtedness redeemed, and report the redemptions to the city legislative...
• Section 43745.
  If the obligations were issued by, on account of, or against, any department, board, or special fund of the city, he shall make the report...
• Section 43746.
  The report shall be made at least once a month, and shall be accompanied by the bonds, warrants, judgments, or other evidences of indebtedness which...
• Section 43747.
  Any money remaining in the funding fund, after all outstanding bonds, warrants, judgments, notes, or other evidences of indebtedness proposed to be refunded have been...

Last modified: October 22, 2018