California Streets and Highways Code CHAPTER 18 - Funding Bonds

• Section 25430.
  As a separate and cumulative method of financing, the board of directors of the district may issue funding bonds to cover the costs and expenses...
• Section 25431.
  The provisions of this chapter relating to the issuance of funding bonds shall be cumulative and shall not affect any of the other provisions or...
• Section 25432.
  If the board of directors propose to issue funding bonds, they shall first adopt a resolution setting forth their intention so to do, and the...
• Section 25433.
  Upon the adoption of the resolution of intention to issue funding bonds, the secretary shall cause a notice of the time and place of hearing...
• Section 25434.
  The time fixed for the hearing shall not be less than 15 days after the completion of the required publication. Not less than 30 days...
• Section 25435.
  All persons interested may appear at the hearing and they may set forth in writing any objections they may have to the issuance of the...
• Section 25436.
  The board of directors shall hear and determine all objections presented at the hearing. The board may alter the boundaries of the proposed funding district...
• Section 25437.
  All decisions, findings and determinations of the board of directors made upon notice and hearing shall, in the absence of actual fraud, be final and...
• Section 25438.
  If at the hearing, the owners of more than 25 per cent in area of the property within any proposed funding district object in writing...
• Section 25439.
  Following the hearing the board of directors shall, if it determines to issue funding bonds, cause its findings in relation thereto to be transmitted to...
• Section 25440.
  Funding bonds issued pursuant to the provisions of this chapter shall be in substantially the following form (filling in blanks as appropriate): FUNDING BONDJoint Highway District...
• Section 25441.
  Funding bonds shall be dated as of the date of the resolution or order of the board of directors authorizing their issuance.(Added by Stats. 1943,...
• Section 25442.
  The board of directors may use any available moneys of the district, not already allocated to some other purpose, for the payment of any interest...
• Section 25443.
  All funding bonds shall be signed by the treasurer of the district, attested by the secretary, and shall have the official seal of the district...
• Section 25445.
  All funding bonds shall be serial in character and approximately an even proportion of the total amount of each issue shall be payable annually. The...
• Section 25446.
  The funding bonds shall be issued by the board of directors at such time and manner and in such amounts as may be required to...
• Section 25447.
  In each district in which funding bonds have been issued there is hereby created a special fund to be designated “Joint Highway District No. ____...
• Section 25448.
  The treasurer of the district shall annually before the fifteenth day of August transmit to the several boards of supervisors within the funding district, a...
• Section 25449.
  The special assessment taxes levied for the payment of funding bonds shall be independent of and distinct from any other levies authorized by this part...
• Section 25450.
  It shall be the duty of the board of supervisors of each county within the district to annually cause to be levied upon the lands...

Last modified: October 22, 2018