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Chapter 17.08 — ADVANCE RETIREMENT OF BONDS

Palm Desert Municipal Code · 2026-07 edition · updated 2026-09-27 · Palm Desert

§ 17.08.010. Assessment prepayment subaccount of bond redemption fund—Deposits—…

Upon receiving a partial or full prepayment of a contractual assessment, the treasurer shall deposit it in an assessment prepayment subaccount of the bond redemption fund. All prepayments may be commingled in a single account. From the account, the treasurer shall make disbursements as follows unless provided otherwise in the trust indenture:

  • A. The administrative fee, if any, shall be deposited in the general fund of the city.

  • B. Delinquent principal, interest, and penalties shall be transferred to the redemption fund for the bonds. If a special reserve fund has been established for the bonds and has been depleted on account of the delinquencies, the delinquent amounts and penalties shall be transferred instead to the special reserve fund.

  • C. The installment of principal due in the fiscal year of prepayment shall be transferred to the redemption fund for the bonds.

  • D. Interest accrued to the next redemption date shall be transferred to the redemption fund for the bonds.

  • E. The balance in the assessment prepayment account shall be used to advance the maturity of bonds to the next call date. The amount of bonds to be retired shall be the maximum for which principal and redemption premium may be paid in full from the prepayment account. Accrued interest on bonds to be retired shall be paid from the redemption fund.

  • (Ord. 1175 §1, 2008)

§ 17.08.020. Notice of advanced maturity—Service or mailing.

Notice of advanced maturity shall be given in writing to the holder of the bond by personal service, registered or certified mail. Such notice may be conditional and shall be made at least thirty days before the date fixed for advanced maturity, or such shorter period upon the consent of the holder of the bond that is subject to advanced maturity. (Ord. 1175 §1, 2008)

§ 17.08.030. Surrender—Payment—Redemption premium—Failure to surrender for payment.

If notice of advanced maturity is given, the bond shall mature and become payable on the date fixed for maturity in the notice. The holder of the bond may, prior to the date of advanced maturity, with the consent of the treasurer, surrender it and receive the principal and interest thereon to the date of payment together with the redemption premium provided for the bond. If the bond has not been sooner surrendered on the date fixed for advanced maturity, the treasurer shall set aside to the credit of the owner of the bond the amount of principal and accrued interest then due on the bond together with the redemption premium and the bond shall then be deemed to have matured and interest shall cease to accrue on the bond. The amount so set aside shall upon demand and upon the surrender and cancellation of the bond be paid to the holder or owner of the bond.

(Ord. 1175 §1, 2008)

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City of Palm Desert, CA

PROCEDURE FOR ISSUANCE AND SALE OF BONDS

§ 17.08.040

§ 17.08.090

§ 17.08.040. Cost of notice of advanced maturity.

To the extent fund are available for such purpose, the cost of serving the notice of advanced maturity may be paid from the redemption fund. (Ord. 1175 §1, 2008)

§ 17.08.050. Notice covering more than one bond.

More than one bond may be covered in a single notice of advanced maturity. (Ord. 1175 §1, 2008)

§ 17.08.060. Tender of other bonds for cancellation—Notice to bondholders.

Prior to the surrender of any bond or the setting aside of any funds, the treasurer may waive and vacate any notice of advanced maturity upon being tendered for cancellation some other bond or bonds of an equivalent amount and of a maturity not earlier than that noticed, if notice of the treasurer's intention so to do is first given, prior to the date of advanced maturity, by mail or otherwise to the holder or owner of the bond noticed for advanced maturity and such holder or owner has not objected to such action.

(Ord. 1175 §1, 2008)

§ 17.08.070. Manner of selecting bonds for retirement.

The treasurer shall select bonds for retirement in accordance with the redemption provisions of the trust indenture.

(Ord. 1175 §1, 2008)

§ 17.08.080. Alternative procedures.

Notwithstanding the foregoing provisions of the chapter, the city council may by resolution establish alternative procedures for the advance retirement of bonds. (Ord. 1175 §1, 2008)

§ 17.08.090. Obligation of city to cure deficiency—Determination—Declaration—Statement in bonds.

Before issuing bonds pursuant to this title, the city council shall determine, and shall declare in the resolution of intention, whether or not the city will obligate itself to advance available funds from the city treasury to cure any deficiency which may occur in the bond redemption fund.

The determination made pursuant to this section shall be clearly stated in the text of the bonds issued pursuant to this title.

(Ord. 1175 §1, 2008)

Downloaded from https://ecode360.com/PA4981 on 2026-07-07

City of Palm Desert, CA

PROCEDURE FOR ISSUANCE AND SALE OF BONDS

§ 17.09.010

§ 17.09.050

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▸Contents — Palm Desert Municipal Code
Palm Desert Municipal Code
  1. Article 1 — MUNICIPAL AFFAIRS
  2. Article 2 — FORM OF GOVERNMENT
  3. Article 3 — REVENUE, SAVINGS AND GENERATION
  4. Article 4 — REVENUE RETENTION
  5. Article 5 — GENERAL LAWS
  6. Article 6 — INTERPRETATION
  7. Title 1
  8. Title 2
  9. Chapter 2.04 — CITY MANAGER
  10. Chapter 2.08 — CITY TREASURER—FINANCE DIRECTOR
  11. Chapter 2.12 — COMMUNITY DEVELOPMENT DIRECTOR
  12. Chapter 2.14 — (RESERVED)
  13. Chapter 2.16 — FINANCE COMMITTEE
  14. Chapter 2.18 — BUILDING BOARD OF APPEALS
  15. Chapter 2.20 — PLANNING COMMISSION
  16. Chapter 2.22 — ARCHITECTURAL REVIEW COMMISSION
  17. Chapter 2.24 — REDEVELOPMENT AGENCY
  18. Chapter 2.28 — CITY COUNCIL SALARIES
  19. Chapter 2.32 — OFFICIAL BONDS
  20. Chapter 2.34 — BOARDS, COMMISSIONS, COMMITTEES, AND TASK FORCE…
  21. Chapter 2.36 — PROCEDURE FOR THE CONDUCT OF MEETINGS
  22. Chapter 2.38
  23. Chapter 2.44 — PUBLIC EMPLOYEES' RETIREMENT SYSTEM
  24. Chapter 2.48 — DISASTER RELIEF
  25. Article I — Governing Provisions
  26. Article II — Recruitment and Selection
  27. Article III
  28. Article IV — Compensation
  29. Article V — Workplace Policies
  30. Article VI — Hours of Work
  31. Article VIII — Leaves
  32. Article IX — Disciplinary Actions
  33. Article X — Grievances
  34. Article XI — Personnel Files
  35. Chapter 2.53 — EMPLOYER-EMPLOYEE RELATIONS
  36. Chapter 2.56 — CONFLICT OF INTEREST CODE
  37. Chapter 2.58 — PARKS AND RECREATION COMMITTEE
  38. Chapter 2.60 — PUBLIC SAFETY COMMITTEE
  39. Chapter 2.62 — CIVIC ENGAGEMENT COMMITTEE
  40. Chapter 2.64 — HOUSING COMMISSION
  41. Chapter 2.66 — ENVIRONMENTAL RESOURCES COMMITTEE
  42. Chapter 2.68 — CULTURAL ARTS COMMITTEE
  43. Chapter 2.70 — HOMELESSNESS TASK FORCE
  44. Chapter 2.72
  45. Chapter 2.74 — PUBLIC LIBRARY
  46. Title 3
  47. Chapter 3.30 — Chapter 3.40 PURCHASING SYSTEM AND PUBLIC PARKI…
  48. Chapter 3.45 — CHILDCARE FACILITIES IMPACT MITIGATION FEE
  49. Chapter 3.04
  50. Chapter 3.08 — INVESTMENT OF MONEYS AND FUNDS
  51. Chapter 3.12 — ORDINARY CLAIMS AND DEMANDS
  52. Chapter 3.14 — DISPUTED CLAIMS AND DEMANDS
  53. Chapter 3.20
  54. Chapter 3.26 — GENERAL TRANSACTIONS AND USE TAX
  55. Chapter 3.28 — TRANSIENT OCCUPANCY TAX
  56. Chapter 3.30
  57. Chapter 3.36 — FIRE PROTECTION FUND
  58. Chapter 3.44 — TRANSPORTATION UNIFORM MITIGATION FEE
  59. Chapter 3.45 — CHILDCARE FACILITIES IMPACT MITIGATION FEE
  60. Chapter 3.46
  61. Chapter 3.50 — CANNABIS BUSINESS TAX
  62. Title 4
  63. Chapter 4.10 — ART IN PUBLIC PLACES
  64. Title 5
  65. Chapter 5.04 — BUSINESS LICENSING AND TAXING
  66. Chapter 5.06 — CATEGORIES AND RATES
  67. Chapter 5.08 — DECEPTIVE TRADE PRACTICES
  68. Chapter 5.10 — SHORT-TERM RENTALS
  69. Chapter 5.11
  70. Chapter 5.12
  71. Chapter 5.80 — CHARITABLE SOLICITATIONS
  72. Chapter 5.82 — REGULATION OF SPECIAL EVENT SALES
  73. Chapter 5.84
  74. Chapter 5.86 — BATHHOUSE, ESCORT BUREAU AND INTRODUCTORY SERVICE
  75. Chapter 5.87 — MASSAGE ESTABLISHMENTS
  76. Chapter 5.88 — OPERATION OF ADULT ENTERTAINMENT ESTABLISHMENTS
  77. Chapter 5.89 — LICENSING OF ADULT ENTERTAINMENT ESTABLISHMENTS…
  78. Chapter 5.91 — ABANDONED SHOPPING CARTS
  79. Chapter 5.92 — SOUND TRUCKS
  80. Chapter 5.94
  81. Chapter 5.95
  82. Chapter 5.96 — BINGO
  83. Chapter 5.97 — FOOD VENDING VEHICLES
  84. Chapter 5.98 — TAXICABS
  85. Chapter 5.99 — FOOD SALE FROM PUSHCARTS
  86. Chapter 5.100 — ENTERTAINMENT PERMITS
  87. Chapter 5.101 — COMMERCIAL CANNABIS BUSINESS REGULATORY PERMITS
  88. Title 6
  89. Chapter 6.04 — DEFINITIONS
  90. Chapter 6.08 — ANIMAL CONTROL OFFICER[1 ]
  91. Chapter 6.16 — BITING
  92. Article 6.18
  93. Title 8
  94. Chapter 8.04 — FOOD HANDLERS
  95. Chapter 8.08 — RESTAURANTS
  96. Chapter 8.12 — DISCARDED MATERIAL ENCLOSURES
  97. Chapter 8.17 — RECYCLABLE MATERIALS
  98. Chapter 8.19
  99. Chapter 8.21 — MAINTENANCE OF ABANDONED PROPERTIES
  100. Chapter 8.23 — FIREWORKS
  101. Chapter 8.32
  102. Chapter 8.34 — TOBACCO RETAILER LICENSE
  103. Chapter 8.36
  104. Chapter 8.38 — PERSONAL USE OF CANNABIS
  105. Chapter 8.40 — RECREATIONAL VEHICLES ON PRIVATE PROPERTY
  106. Chapter 8.44 — MOBILE SOURCE AIR POLLUTION
  107. Chapter 8.50
  108. Chapter 8.55
  109. Chapter 8.60 — SEWER CONNECTION REQUIREMENTS PRIOR TO PROPERTY…
  110. Chapter 8.70 — PROPERTY MAINTENANCE
  111. Chapter 8.80 — ADMINISTRATIVE REMEDIES
  112. Chapter 8.81 — ADMINISTRATIVE CITATIONS
  113. Chapter 8.85 — SKATE PARK REGULATIONS
  114. Title 9
  115. Chapter 9.58 — PUBLIC DRINKING AND LIQUOR POSSESSION
  116. Chapter 9.12 — DISPLAY AND SALE OF DRUG PARAPHERNALIA
  117. Chapter 9.20 — INDECENT EXPOSURE
  118. Chapter 9.24
  119. Chapter 9.25
  120. Chapter 9.26 — UNLAWFUL CAMPING
  121. Chapter 9.30
  122. Chapter 9.40 — GRAFFITI
  123. Chapter 9.48
  124. Chapter 9.50 — MOBILE HOME PARK RENT REVIEW
  125. Chapter 9.52
  126. Chapter 9.56 — CURFEW AND TRUANCY OF MINORS
  127. Chapter 9.58 — PUBLIC DRINKING AND LIQUOR POSSESSION
  128. Chapter 9.68 — DISCHARGE OF FIREARMS
  129. Chapter 9.69 — LASER POINTERS
  130. Chapter 9.70
  131. Chapter 9.71
  132. Title 10
  133. Chapter 10.04 — DEFINITIONS
  134. Chapter 10.16 — TRAFFIC REGULATIONS—ENFORCEMENT AND OBEDIENCE
  135. Chapter 10.12 — TRAFFIC ENGINEER AND COMMITTEE
  136. Chapter 10.24 — ABANDONED VEHICLES
  137. Chapter 10.78 — ELECTRONIC PERSONAL ASSISTIVE MOBILITY DEVICES
  138. Chapter 10.84 — AMBULANCE SERVICE
  139. Chapter 10.92 — INTERSTATE TRUCKS
  140. Chapter 10.12 — TRAFFIC ENGINEER AND COMMITTEE
  141. Chapter 10.16
  142. Chapter 10.20 — TRAFFIC ACCIDENTS AND REPORTS
  143. Chapter 10.24 — ABANDONED VEHICLES
  144. Chapter 10.25 — VEHICLE IMPOUND COST RECOVERY FEE
  145. Chapter 10.28 — MISCELLANEOUS DRIVING RULES
  146. Chapter 10.32 — TRAFFIC-CONTROL DEVICES
  147. Chapter 10.40 — TURNING MOVEMENTS
  148. Chapter 10.44 — ONE-WAY STREETS AND ALLEYS
  149. Chapter 10.48 — STOPPING, STANDING AND PARKING
  150. Chapter 10.50 — VALET PARKING
  151. Chapter 10.52 — SPECIAL STOPS
  152. Chapter 10.56 — LOADING AND UNLOADING
  153. Chapter 10.64 — PARADE PERMITS
  154. Chapter 10.68 — RESTRICTED USE OF CERTAIN STREETS
  155. Chapter 10.78 — ELECTRONIC PERSONAL ASSISTIVE MOBILITY DEVICES
  156. Chapter 10.80 — PRIVATELY OWNED AND MAINTAINED ROADS
  157. Chapter 10.84 — AMBULANCE SERVICE
  158. Chapter 10.88 — OFF-ROAD VEHICLES
  159. Chapter 10.96 — RECREATIONAL VEHICLES
  160. Chapter 10.98 — COMMERCIAL VEHICLES
  161. Chapter 10.99 — MOBILITY SHARING SERVICES
  162. Title 11
  163. Chapter 11.04 — PARK RESERVATIONS AND PARK USE PERMIT
  164. Title 12
  165. Chapter 12.16 — UNDERGROUND UTILITY LINES
  166. Chapter 12.12 — UNDERGROUND UTILITY DISTRICTS
  167. Chapter 12.16 — UNDERGROUND UTILITY LINES
  168. Chapter 12.18 — PUBLIC ACQUISITION
  169. Chapter 12.20 — STREET IMPROVEMENTS
  170. Chapter 12.22 — STREET CUT AND TRENCH REPAIRS
  171. Chapter 12.24 — SKATEBOARDING AND ROLLER SKATING
  172. Chapter 12.26 — PUBLIC SIDEWALK REPAIRS
  173. Chapter 12.28 — STREETS AND ROADS ACCEPTANCE
  174. Chapter 12.32 — TREE PRUNING REGULATIONS
  175. Chapter 12.36 — PROCEDURES FOR VACATING CITY RIGHTS-OF-WAY OR …
  176. Title 14
  177. Chapter 14.01
  178. Article 1
  179. Article 2
  180. Article 3 — Open Video Systems
  181. Article 4
  182. Article 5 — Definitions
  183. Article 6
  184. Title 15
  185. Chapter 15.02 — ADMINISTRATION
  186. Chapter 15.04 — BUILDING CODE
  187. Chapter 15.06 — RESIDENTIAL CODE
  188. Chapter 15.08 — MECHANICAL CODE
  189. Chapter 15.10 — ELECTRICAL CODE
  190. Chapter 15.12 — PLUMBING CODE
  191. Chapter 15.14 — ENERGY CODE
  192. Chapter 15.16 — WILDLAND-URBAN INTERFACE CODE[1 ]
  193. Chapter 15.17
  194. Chapter 15.18 — GREEN BUILDING STANDARDS CODE
  195. Chapter 15.20 — HISTORICAL BUILDING CODE
  196. Chapter 15.22 — HOUSING CODE
  197. Chapter 15.24 — EXISTING BUILDING CODE
  198. Chapter 15.26 — FIRE CODE
  199. Chapter 15.28 — ADDRESS NUMBERING
  200. Chapter 15.30 — CONSTRUCTION SITE SECURITY
  201. Chapter 15.32 — MOVED BUILDINGS, AND TEMPORARY STRUCTURES
  202. Chapter 15.34 — SAFETY ASSESSMENT PLACARDS
  203. Chapter 15.36
  204. Article 15.40
  205. Title 16
  206. Chapter 16.01 — FIRE PROTECTION AND PREVENTION TAX
  207. Title 17
  208. Chapter 17.01 — GENERAL PROVISIONS
  209. Chapter 17.02
  210. Chapter 17.03 — ISSUANCE OF BONDS
  211. Chapter 17.04 — FORM AND CONTENT OF BONDS
  212. Chapter 17.05 — VARIABLE INTEREST RATE BONDS
  213. Chapter 17.06 — BOND RECORDS AND PAYMENTS
  214. Chapter 17.07 — BOND ANTICIPATION NOTES
  215. Chapter 17.08 — ADVANCE RETIREMENT OF BONDS
  216. Chapter 17.09 — REDEMPTION FUND DEFICIENCIES
  217. Chapter 17.10 — SPECIAL RESERVE FUND
  218. Chapter 17.11 — MISCELLANEOUS PROVISIONS
  219. Title 23
  220. Chapter 23.04 — MUNICIPAL UTILITY—DEDICATION REQUIREMENTS
  221. Title 24
  222. Chapter 24.04 — WATER-EFFICIENT LANDSCAPE
  223. Chapter 24.04 — WATER-EFFICIENT LANDSCAPE
  224. Chapter 24.08
  225. Chapter 24.12 — FUGITIVE DUST (PM10) CONTROL
  226. Chapter 24.16 — OUTDOOR LIGHTING REQUIREMENTS
  227. Chapter 24.20 — STORMWATER MANAGEMENT AND DISCHARGE CONTROL
  228. Title 25
  229. Chapter 25.02 — INTRODUCTORY PROVISIONS
  230. Chapter 25.18 — DOWNTOWN DISTRICTS DEVELOPMENT STANDARDS
  231. Chapter 25.20 — DOWNTOWN DISTRICTS DESIGN GUIDELINES
  232. Chapter 25.28 — OVERLAY DISTRICTS
  233. Chapter 25.02 — INTRODUCTORY PROVISIONS
  234. Chapter 25.04 — ESTABLISHMENT OF ZONING DISTRICTS
  235. Chapter 25.10 — RESIDENTIAL DISTRICTS
  236. Chapter 25.16 — COMMERCIAL AND INDUSTRIAL DISTRICTS
  237. Chapter 25.18 — DOWNTOWN DISTRICTS DEVELOPMENT STANDARDS
  238. Chapter 25.20 — DOWNTOWN DISTRICTS DESIGN GUIDELINES
  239. Chapter 25.22 — SPECIAL DISTRICTS
  240. Chapter 25.28 — OVERLAY DISTRICTS
  241. Chapter 25.34 — SPECIAL USE PROVISIONS
  242. Chapter 25.40 — SITE DEVELOPMENT PROVISIONS
  243. Chapter 25.42 — MULTIFAMILY AND MIXED-USE OBJECTIVE DESIGN STA…
  244. Chapter 25.46 — OFF-STREET PARKING AND LOADING
  245. Chapter 25.52 — LANDSCAPING
  246. Chapter 25.56 — SIGNS
  247. Chapter 25.60 — PROCEDURES
  248. Chapter 25.62 — NONCONFORMING PROVISIONS
  249. Chapter 25.64 — DECISIONS BY THE ZONING ADMINISTRATOR
  250. Chapter 25.68 — DECISIONS BY THE ARCHITECTURAL REVIEW COMMISSION
  251. Chapter 25.72 — DECISIONS BY THE PLANNING COMMISSION
  252. Chapter 25.78 — DECISIONS BY THE CITY COUNCIL
  253. Chapter 25.99 — DEFINITIONS
  254. Title 26
  255. Chapter 26.04 — GENERAL PROVISIONS
  256. Chapter 26.08 — DEFINITIONS
  257. Chapter 26.12 — GENERAL REQUIREMENTS
  258. Chapter 26.16 — PROCESSING—RESPONSIBILITIES
  259. Chapter 26.40 — DESIGN STANDARDS AND REQUIREMENTS
  260. Chapter 26.48 — NEIGHBORHOOD AND COMMUNITY PUBLIC FACILITIES
  261. Chapter 26.04 — GENERAL PROVISIONS
  262. Chapter 26.16 — PROCESSING—RESPONSIBILITIES
  263. Chapter 26.30 — URBAN LOT SPLITS
  264. Chapter 26.40 — DESIGN STANDARDS AND REQUIREMENTS
  265. Chapter 26.48
  266. Chapter 26.49 — DRAINAGE FACILITIES
  267. Chapter 26.52 — LIMITATION ON FINAL DECISIONS
  268. Chapter 26.54 — CONVERSION TO CONDOMINIUMS
  269. Title 27
  270. Chapter 27.04 — PURPOSE
  271. Chapter 27.12
  272. Chapter 27.20 — EXEMPTIONS
  273. Title 28
  274. Chapter 28.02
  275. Chapter 28.04 — DEFINITIONS
  276. Chapter 28.06 — GENERAL PROVISIONS
  277. Chapter 28.08 — ADMINISTRATION
  278. Chapter 28.10 — PROVISIONS FOR FLOOD HAZARD REDUCTION
  279. Chapter 28.12 — VARIANCE PROCEDURE
  280. Title 29
  281. Chapter 29.50 — HISTORIC DISTRICTS
  282. Chapter 29.30 — HISTORIC PRESERVATION COMMITTEE
  283. Chapter 29.60 — CERTIFICATE OF APPROPRIATENESS PROCESS
  284. Chapter 29.10 — PURPOSE
  285. Chapter 29.20 — DEFINITIONS
  286. Chapter 29.30 — HISTORIC PRESERVATION COMMITTEE
  287. Chapter 29.40 — LANDMARKS
  288. Chapter 29.50 — HISTORIC DISTRICTS
  289. Chapter 29.60 — CERTIFICATE OF APPROPRIATENESS PROCESS
  290. Chapter 29.70 — PRESERVATION INCENTIVES
  291. Chapter 29.80 — ENFORCEMENT AND PENALTIES
  292. Chapter 29.90 — SEVERABILITY
  293. Title 30
  294. Chapter 30.01 — RESIDENTIAL PERMIT PARKING AREAS
  295. Title OL

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