California Government Code ARTICLE 4 - Provisions Relating to Bonds

• Section 54400.
  The legislative body may determine and provide in the resolution for:(a) The number of series in which the bonds are to be issued.(b) The date the bonds...
• Section 54401.
  If the legislative body divides any issue of bonds into series, it may prescribe, and state in the resolution, different dates for the bonds of...
• Section 54402.
  The legislative body may determine and provide in the resolution for:(a) The issuance of any bonds or a series in the form of serial bonds or...
• Section 54403.
  Any premium payable on the bonds shall be in the amount or amounts specified by the legislative body.(Repealed and added by Stats. 1990, Ch. 1130,...
• Section 54404.
  The bonds are not subject to call or redemption prior to their fixed maturity date unless the right to exercise a call is expressly stated...
• Section 54405.
  The resolution may provide the terms and conditions upon which the bonds may be declared or become due and payable upon specified defaults.(Added by Stats....
• Section 54406.
  The resolution may provide for the replacement of mutilated, destroyed, stolen, or lost bonds.(Added by Stats. 1949, Ch. 81.)
• Section 54407.
  By resolution, the legislative body may provide the manner for authenticating the bonds and other terms to be contained in the bonds.(Added by Stats. 1949,...
• Section 54408.
  Pending the preparation of the definitive bonds, interim receipts or temporary bonds, exchangeable for definitive bonds may be issued in the form and with the...
• Section 54409.
  In the absence of an express recital on its face that the bond or interim receipt is nonnegotiable, the bond or interim receipt is a...
• Section 54410.
  In determining the amount of bonds to be issued, the legislative body may include:(a) All costs and estimated costs incidental to or connected with the acquisition,...
• Section 54411.
  Bonds bearing the signature of officers of the local agency in office on the date of the signing are valid, notwithstanding that before delivery the...
• Section 54412.
  The validity of the authorization and issuance of the bonds is not affected by proceedings for the acquisition, construction, or improving of the enterprise or...
• Section 54413.
  Any resolution authorizing bonds may provide that the bonds may recite that it is issued pursuant to this chapter and bonds containing such recital are...
• Section 54414.
  Reference on the face of the bonds to the resolution by its date of adoption incorporates the provisions of the resolution and of this chapter...
• Section 54415.
  Each taker and subsequent holder of the bonds and attached or detached coupons has recourse to all of the provisions of the resolution and of...
• Section 54416.
  The legislative body may issue and sell the bonds in the manner it determines.(Added by Stats. 1949, Ch. 81.)
• Section 54417.
  The legislative body may sell the bonds in installments at different times or as an entire series of bonds at one time.(Added by Stats. 1949,...
• Section 54418.
  The legislative body may sell the bonds at a price above or below par in a manner, at public or private sale, as it determines...
• Section 54419.
  The sale price of all bonds sold shall include the interest accrued to the date of delivery of and payment for the bonds.(Added by Stats....
• Section 54420.
  The bonds are special obligations of the local agency and are secured by a pledge of and shall be a charge upon, and shall be...
• Section 54421.
  By resolution the legislative body may pledge, place a charge upon, and assign all or any part of the gross revenues of the enterprise and...
• Section 54422.
  The payment of interest on and principal of the bonds and any premiums upon the redemption of any thereof are secured by a pledge, charge,...
• Section 54423.
  The revenues and any interest earned on the revenues and all other funds specified in the resolution authorizing the issuance of the bonds constitute a...
• Section 54424.
  So long as any bonds or interest thereon are unpaid the revenues and interest thereon shall not be used for any other purpose, except as...
• Section 54425.
  If the interest and principal of the bonds and all charges to protect or secure them are paid when due an amount for the necessary...
• Section 54426.
  In its discretion the legislative body may provide in the resolution providing for the issuance of the bonds that, the principal, interest, and sums for...
• Section 54427.
  Bonds of the same issue shall be equally secured by a pledge, charge, and lien upon the revenues of the enterprise and all other funds...
• Section 54428.
  The general fund of the local agency is not liable for the payment of the bonds or their interest.(Added by Stats. 1949, Ch. 81.)
• Section 54429.
  The credit or taxing power of the local agency is not pledged for the payment of the bonds or their interest.(Added by Stats. 1949, Ch.
• Section 54430.
  The holder of the bonds or coupons shall not compel the exercise of the taxing power by the local agency or the forfeiture of its...
• Section 54431.
  The principal of and interest on the bonds and any premiums upon the redemption of any thereof are not a debt of the local agency,...
• Section 54432.
  Every bond shall recite in substance that the principal of and interest on the bond are payable solely from the revenues and other funds pledged...
• Section 54435.
  The bonds and interest or income from the bonds are exempt from taxation in this State, except from gift, inheritance, and estate taxes.(Added by Stats....

Last modified: October 22, 2018