Big Bear Lake Municipal Code Ch. 3.28 Revenue Bonds

The city may incur indebtedness evidenced by revenue bonds in the manner, form, and by following the procedures set forth in the Revenue Bond Law of 1941, Title 5, Division 2, Part 1, Chapter 6, of the Government Code of California, as said law now exists or as the same may be hereinafter amended; provided, that the provisions of Section 54380 to 54387 of said Government Code shall not apply to the authorization, issuance, sale and delivery of said bonds, and no election need be held as a condition to the authorization, issuance, sale and delivery of such bonds.

(Ord. 86-130 § 1, 1986)

The city may authorize, issue, sell and deliver any such bonds for the purpose of financing:

A. Any revenue producing improvement, building, system, plant, works, facilities, or under-taking used or useful and which are defined as an "enterprise" in Section 54309 of said Government Code; and

B. Any other revenue producing improvement, building, system, plant, works, facilities, or under-taking, the providing of which, or the providing of utilities or services from which, constitutes a municipal affair.

(Ord. 86-130 § 2, 1986)

The provisions of Section 54388 of the Government Code of California shall not apply to the sale of said bonds and the city council is authorized to sell such bonds at public or private sale as the council determines is in the best interests of the city.

(Ord. 87-154 § 1, 1988)