§97.0301 Issuance of Bonds — San Diego Zoning Code

(a) The City is hereby authorized to have outstanding Bonds in an aggregate principal amount of not to exceed $100,000,000 and to issue such Bonds, from time to time, in such series and amount as are determined by the Council to be necessary or appropriate to provide for Costs of Facilities approved by the Council and to provide for the refunding or replacing of outstanding Bonds. Bonds shall be negotiable instruments for all purposes, subject only to the provisions of such Bonds for registration.
(b) In addition to the Bonds authorized in the preceding paragraph, the City is hereby authorized to have outstanding additional bonds in an aggregate principal amount not to exceed $1,150,600,000 for Facilities or activities related to energy development, production, collection, conversion (from one form of energy to another), storage, conservation, transmission, distribution, transportation, or conveyance, including but not limited to the furnishing of electric energy or gas, and to issue such Bonds from time to time, in such series and amounts, as are determined by the Council to be necessary or appropriate to provide for the Cost of Facilities approved by the Council and to provide for the refunding or replacing of outstanding Bonds. Bonds shall be negotiable instruments for all purposes, subject only to the provisions of such Bonds for registration.

For the purpose of any Bonds issued for facilities or activities related to energy development as more broadly defined above, the term “Facilities” shall have the same meaning as defined in Section 97.0103(e), except that the facilities, places or buildings are not necessarily required to be located within the City so long as the City Council finds that the Facilities to be financed would directly benefit the citizens of The City of San Diego.

(c) For the purpose of any bonds issued for Facilities which are to be located outside of the City, the City Council shall request, and the City Manager shall submit to the City Council, a report showing that one or more of the criteria established pursuant to Section 97.0203 have been appropriately met.

Ch. Art. Div. 9 7 3 1

(Amended 11–10–1986 by O–16760 N.S.)