Gilroy Municipal Code Div. 3 Bond Plan B. Districts Bonds

Where bonds are issued pursuant to this plan, the Improvement Bond Act of 1915[1] shall apply.

(Ord. No. 645, § 330)

[1]

See Sts. & H.C.A., § 8500 et seq.

Bonds may be issued in the total amount of all assessments in amounts of less than fifty dollars which are unpaid at such time, to mature at the same time as the maturity of the first series of such serial bonds, and which assessments shall become due and payable at the same time as that portion of the larger assessments which shall have been collected for the payment of the first series of the serial bonds and the interest thereon.

(Ord. No. 645, § 331)

The list of unpaid assessments filed with the city treasurer by the street superintendent shall separately state in such list the total of the assessments which are of fifty dollars or over in amount and the assessments which are under fifty dollars in amount.

(Ord. No. 645, § 332)

Bonds for the amount of the assessments which are not an even multiple of not less than one hundred dollars or more than one thousand dollars may be made to mature at the same time as the first series of bonds.

(Ord. No. 645, § 333)

As an alternative to Division 11 (commencing with Section 9000) of the Improvement Bond Act of 1915 relating to the refunding of bonds under said act, the provisions of Division 11.5 (commencing with Section 9500) shall apply to bonds heretofore or hereafter issued under said act.

(Ord. No. 85-10, § 1, 7-15-1985)