Fresno Municipal Code Art. 7 Revenue Bonds—municipal Improvements Revenue Bond Law

The Revenue Bond Law of 1941 commencing with Section 54300 of the Government Code (the "Revenue Bond Law of 1941") as enacted and as hereafter amended, is hereby adopted by the city as the Municipal Improvements Revenue bond Law, and all provisions of the Revenue Bond Law of 1941 shall be included in the Municipal Improvements Revenue Bond Law, except as provided below.

(Added Ord. 84-83, § 1, eff. 7-13-84; Am. Ord. 2007-97, § 2, eff. 1-19-08).

The city is recognized to have and shall exercise all powers pursuant to and as may be limited by the charter and the laws of the State of California which are necessary or appropriate for carrying out the purposes of this article, including, without limitation, the power to issue bonds for the purposes specified in the Revenue bond Law of 1941.

(Added Ord. 84-83, § 1, eff. 7-13-84; Am. Ord. 2007-97, § 2, eff. 1-19-08).

(a) Government Code Section 54342 is amended to read, for purposes of inclusion in the Municipal Improvements Revenue bond Law: "A local agency may operate, maintain, repair or manage all or any part of any enterprise, including the leasing of any enterprise for commercial purposes."

(b) The Municipal Improvements Revenue bond Law shall not include Government Code Sections 54380 through 54388, 54403 or 54418.

(c) Government Code Section 54416 is amended to read, for purposes of inclusion in the Municipal Improvements Revenue bond Law: "The legislative body may issue and sell the bonds in the manner it determines, at public or private sale, at or below par, and at the interest rate fixed by the purchaser and approved by the legislative body."

(Added Ord. 84-83, § 1, eff. 7-13-84; Am. Ord. 2007-97, § 2, eff. 1-19-08).