California Harbors and Navigation Code CHAPTER 1 - General Provisions

• Section 3900.
  This part may be cited as the Harbor Development Bond Law of 1958.(Added by Stats. 1958, 1st Ex. Sess., Ch. 103.)
• Section 3901.
  As used in this chapter the following words shall have the following meanings:(a) “Committee” means the Harbor Improvement Bond Committee.(b) “Authority” means the San Francisco Port Authority,...
• Section 3902.
  The following funds are created in the State Treasury for the purposes of this part:(a) Harbor Bond Sinking Fund.(b) Fifth San Francisco Seawall Fund.(c) Small Craft Harbor Bond...
• Section 3903.
  There is in the State Government the Harbor Improvement Bond Committee. The committee shall consist of the State Controller, the State Treasurer, and the Director...
• Section 3904.
  The members of the committee shall not receive additional compensation for their services under this part.(Added by Stats. 1958, 1st Ex. Sess., Ch. 103.)
• Section 3905.
  For the purpose of creating funds to provide for the construction, improvement and development of harbors in this State as provided in this part, the...
• Section 3906.
  After adoption of any resolution by the committee, provided for in Section 3907, the State Treasurer shall arrange for the preparation of the requisite number...
• Section 3907.
  Whenever the authority pursuant to Section 3940 or the commission pursuant to Section 3950 determines by resolution that a bond issue under this part is...
• Section 3908.
  The aggregate par value of all bonds issued under this part at the instance of the authority shall not exceed fifty million dollars ($50,000,000) and...
• Section 3909.
  All bonds issued under this part shall bear the facsimile signature of the Governor and the facsimile countersignature of the Controller and shall be endorsed...
• Section 3910.
  All bonds herein authorized, which shall have been duly sold and delivered as herein provided, shall constitute valid and legally binding general obligations of the...
• Section 3911.
  In determining the dates of maturity of the bonds, and the amount thereof to mature at each date of maturity, the committee shall be guided,...
• Section 3912.
  The rate of interest to be borne by the bonds need not be uniform for all bonds of the same issue, series or division and...
• Section 3913.
  Both principal of and interest on the bonds shall be payable in lawful money of the United States, at the Office of the State Treasurer,...
• Section 3914.
  Each bond shall contain a reference to this part and if subject to call or redemption prior to maturity, a recital to that effect.(Added by...
• Section 3915.
  The bonds authorized to be issued under this part shall be sold by the State Treasurer to the highest bidder for cash, either at public...
• Section 3916.
  Due notice of the time and place of sale of all bonds shall be given by the State Treasurer by publication in one newspaper published...
• Section 3916.5.
  The sum of seventy-five thousand dollars ($75,000) is hereby appropriated out of the General Fund to be used as a revolving fund to pay the...
• Section 3917.
  The committee may provide for the issuance, sale or exchange of refunding bonds out of the bonds issued under this part for the purpose of...
• Section 3918.
  For the payment of the principal and interest of the bonds the Harbor Bond Sinking Fund shall consist of the following:(a) Payments from any available moneys...
• Section 3918.5.
  (a) A separate account shall be established in the Harbor Bond Sinking Fund, in which shall be deposited all money paid into such fund from the...
• Section 3919.
  The State Treasurer shall on Controller’s warrants duly drawn for that purpose, invest the moneys in the Harbor Bond Sinking Fund in the purchase of...
• Section 3919.3.
  The authority is authorized with the approval of the Department of Finance, to invest any surplus moneys in the Fifth San Francisco Seawall Fund in...
• Section 3920.
  Whenever the committee deems that it will increase the salability or the price of the bonds to obtain, prior to or after sale, a legal...
• Section 3921.
  The State Treasurer directly or through a state fiscal agent, or agents, shall, on the respective dates of maturity of all bonds, or on the...
• Section 3922.
  Upon the payment of any such bond or coupon, the State Treasurer, or such state fiscal agent, or agents, shall perforate the same with a...
• Section 3923.
  The State Treasurer, or such state fiscal agent, or agents, with the approval of the State Treasurer, may destroy or cremate any or all bonds...
• Section 3924.
  It shall be the duty of the State Treasurer to pay the interest of said bonds, when the same falls due, out of the moneys...
• Section 3925.
  All bonds issued under this part and sold shall be deemed to have been called in at their respective dates of maturity and the State...
• Section 3926.
  Whenever the committee shall determine that any bonds then outstanding, and which by their terms are subject to redemption prior to maturity, should be redeemed,...
• Section 3927.
  The State Controller and the State Treasurer shall keep full and particular account and record of all their proceedings under this part, and they shall...
• Section 3928.
  All money remaining in the account of the Harbor Bond Sinking Fund, established pursuant to subdivision (a) of Section 3918.5, after the principal of and...

Last modified: October 22, 2018