Santa Clara Municipal Code Art. IV Bond Plan C – District Liability Bonds

When bonds are issued pursuant to this article, the provisions of Sections 14, 15, 16, 17, 20, 21, 22, 24, 25, 26, 27 and 28 of the State Refunding Assessment Bond Act of 1935 shall apply.

(Ord. 859 § 340; Formerly § 16-118)

Appropriate changes shall be made in the form of the bonds to show that they have been issued for a public improvement or acquisition.

(Ord. 859 § 341; Formerly § 16-119)

The City Council shall determine the date of bonds issued under this article and the date from which such interest shall run. Interest shall accrue on the assessments from such date.

(Ord. 859 § 342; Formerly § 16-120)

Proceedings for the issuance of bonds under this article shall be had as provided in the State Improvement Bond Act of 1915.

(Ord. 859 § 343; Formerly § 16-121)

Assessments for bonds under this article may be paid in advance of maturity in the manner provided in the State Improvement Bond Act of 1915 and the provisions thereof shall be inserted in such bonds instead of the provisions of the State Refunding Act.

(Ord. 859 § 344; Formerly § 16-122)

Bonds may be issued in the total amount of all assessments in amounts of less than twenty-five dollars ($25.00) 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 assessment which shall have been collected for the payment of the first series of the serial bonds and the interest thereon.

(Ord. 859 § 345; Formerly § 16-123)

The list of unpaid assessments filed with the City Clerk by the street superintendent shall separately state in such list the total of the assessments which are of twenty-five dollars ($25.00) or over in amount and the assessments which are under twenty-five dollars ($25.00) in amount.

(Ord. 859 § 346; Formerly § 16-124)

Bonds for the amount of the assessments which are not an even multiple of not less than one hundred dollars ($100.00) or more than one thousand dollars ($1,000.00) may be made to mature at the same time as the first series of bonds.

(Ord. 859; Formerly § 16-125)