Oakland Municipal Code Art. III Miscellaneous Bond Provisions

This chapter, being necessary for the health, welfare and safety of the City and its residents, shall be liberally construed to affect its purposes. Furthermore, the Council hereby declares that this Chapter is an exercise of the power granted to the City by the City Charter and the Constitution of the State and is an exercise by the City of its powers as to municipal affairs and its police powers, and this Chapter shall be liberally construed to uphold its validity under the laws of the State.

(Ord. No. 13403, § 2, 11-29-2016)

This chapter shall be deemed to provide a complete, additional and alternative method for doing the things authorized hereby, and shall be regarded as supplemental and additional to the powers conferred by other laws. The issuance of bonds and the entering into of any other agreement under the provisions of this Chapter need not comply with the requirements of any other law applicable to the issuance of bonds. The purposes authorized hereby may be effectuated and bonds are authorized to be issued for any such purposes under this Chapter notwithstanding that any other law may provide for such purposes or for the issuance of bonds for like purposes and without regard to the requirements, restrictions, limitations or other provisions contained in any other law.

(Ord. No. 13403, § 2, 11-29-2016)

The validity of any bonds shall not be dependent on or affected in any way by any proceedings taken by the City for the completion of projects and purposes for which the bonds are to be issued. The bonds shall be valid and incontestable and shall by their issuance and delivery conclusively establish the due performance of all conditions precedent to their issue.

(Ord. No. 13403, § 2, 11-29-2016)

This chapter shall not be amended so as to have a material adverse effect upon the rights of the owners of any outstanding bonds theretofore issued hereunder, without the written consent of such bond owners; provided, however, that this Chapter may be amended at any time (a) to make such provisions for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision herein contained, as the City may deem necessary or desirable; or (b) if such amendment does not materially impair or adversely affect the interests of any such bond owner or City; or (c) if such amendments apply solely to bonds not theretofore issued. Notwithstanding the foregoing, the description of the City's Affordable Housing Program in Article IV of this Chapter may be amended from time to time as the Council deems necessary or desirable.

(Ord. No. 13403, § 2, 11-29-2016)

To the extent that the provisions of this Chapter are inconsistent with the provisions of any general statute or special act or parts thereof, the provisions of this Chapter shall be deemed controlling.

(Ord. No. 13403, § 2, 11-29-2016)

Any action by the City to determine, or any action by an interested person challenging, the validity of the bonds shall be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the California Code of Civil Procedure.

(Ord. No. 13403, § 2, 11-29-2016)