Title GOV — California Gov. Code

The resolution of intention shall: (a) Refer to the original proceedings with sufficient clarity to identify them. (b) Indicate the amount of bonds and of each series which were originally issued against each of the districts created under such proceedings. (c) Indicate the amoun…

The resolution shall state: (a) That it is proposed to issue bonds of the new district. (b) The maximum amount for which and the character of the proposed new bonds. (c) The maximum term of the bonds. (d) The maximum rate of interest to be paid on them, not to exceed 7 percent a …

The resolution of intention shall state: (a) The amount of each sum allocated up to the date of the resolution from any source toward the payment and redemption of the original bonds. (b) That any subsequent allocation, except contributions by way of cancellation of taxes or towa…

The legislative body may recite in the resolution of intention the facts upon which it finds that the public interest, convenience, or necessity require the acquisition and cancellation of the original bonds and the creation of the new district.

The resolution shall contain a notice of the time and place at which any person objecting to the proposed acquisition and cancellation of the original bonds, to the creation or extent of the new district, or to the issuance of bonds against it, may appear before the legislative b…

The time shall be not less than 15 nor more than 60 days after the adoption of the resolution.

The resolution of intention shall be published twice in a newspaper designated in the resolution. The first publication shall be at least 10 days before the date set in the resolution for hearing.

A notice of the passage of the resolution of intention shall be mailed to each property owner at least 10 days before the date set in the resolution for hearing.

The notice shall be entitled “Notice to Owners of Proposed Assessment and Bond Refunding.”

It shall: (a) Give notice of the passage of the resolution. (b) Give notice of its date. (c) Give notice of the time and place of hearing on the resolution. (d) Briefly describe the substance of the resolution. (e) Refer to the resolution on file.

Written protests against the proposed refunding or the creation of the new district may be made, filed, heard, considered, and passed upon in the time and manner, with the effect, and subject to the terms of protests against a proposed district pursuant to the Improvement Act of …

The legislative body acquires jurisdiction to order the refunding when: (a) No written protests are filed within the proper time. (b) All protests are found insufficient or are overruled. (c) Any correction of the proposed district or refunding has been made and all protests have…

The legislative body shall cause a notice of the refunding to be published in a newspaper designated by it.

The notice shall be headed substantially as follows: “Notice to assessment and bondholders of proposed refunding.”

The notice shall briefly set forth: (a) The fact of the adoption of the resolution of intention pursuant to this chapter. (b) Its date. (c) The purpose of the proceeding indicated in the resolution. (d) A reference to the resolution for further particulars. (e) The maximum amount…

In the notice the legislative body shall invite the holders of the original bonds to submit to it one or more written proposals stating the terms upon which they will deliver their bonds for cancellation to the legislative body or to any official it designates in consideration fo…

The legislative body shall have power under this chapter to refund bonds which constitute an indebtedness of a local agency or any improvement district or zone thereof payable, both principal and interest, from the proceeds of ad valorem taxes or ad valorem assessments which may …

Refunding bonds may be issued under this chapter for the purpose of refunding any indebtedness of the local agency which is evidenced by bonds, whether due or not due or which may thereafter become payable at the option of such local agency or by consent of the bondholders or by …

The incidental costs of issuing the refunding bonds may be paid by the purchaser of the refunding bonds or may be paid from any other legally available source including, without limitation, the general fund of the local agency, other available revenues of the local agency under t…

The proceeds of the sale of any refunding bonds shall be deposited in escrow or in trust with any bank or trust company within or without the state, or both within or without the state, and shall be secured in accordance with the laws applicable to funds of the local agency and m…

Such proceeds and reinvestments in escrow or in trust shall be in an amount at the time of the issuance of such refunding bonds sufficient to meet the requirements of either subdivision (a) or (b) of this section. Such proceeds and reinvestments in escrow or in trust shall also b…

Upon the issuance, sale and delivery or exchange of refunding bonds pursuant to this article, if both the refunding bonds and the bonds to be refunded remain outstanding for any period of time following the date of the issuance, sale and delivery of the refunding bonds, then unti…

In proceeding under the alternatives provided for in this article, it shall be unnecessary for the legislative body to give notice to the bondholders and to obtain their consents or to obtain written proposals from them, and the provisions in this chapter relating to such consent…

If pursuant to the notice, the bondholders file with the legislative body one or more written proposals for the surrender and cancellation or redemption of not less than 75 percent of the principal amount of all the original bonds referred to in the resolution of intention, the l…

If in the original proceedings for formation of the district and the issuance of bonds any lot was excepted from the special assessment tax levy to pay the principal and interest of the bonds, the lot shall be shown upon the diagram but no reassessment shall be levied on it.

The diagram shall show each lot in the new district and its dimensions sufficient to identify it.

In refunding the indebtedness of a district the total amount of the reassessment to be levied pursuant to this chapter and any contributions shall not exceed the face amount of the original bonds and coupons and interest on them after the maturity of the bonds and coupons, includ…

Upon completion of the diagram the engineer or such other person as the legislative body designates shall estimate the benefit to be received by each lot in the new district, as shown by the diagram, from the acquisition and cancellation of the original bonds and from the acquisi…

The engineer or such other person shall assess upon and against the land in the new district the total net amount of the cost of the proceedings to be assessed against such land. In so doing he shall assess the total sum upon the lots in the district which are benefited by it by …

Tax deeded lands are subject to reassessment in refunding proceedings pursuant to this chapter.

In making the assessment and estimating the benefits to be received by each lot, the engineer or other person shall consider, among other things, the following: (a) The principal amount of all the bonds originally issued. (b) The amount of special assessment levies previously mad…

When the diagram and assessment have been made, they shall be attached together and filed with the clerk.

Upon such filing, the clerk shall give notice of the filing and of a time to be fixed in the notice by him when all persons interested in the acquisition and cancellation of the original bonds, the diagram, or assessment will be heard by the legislative body.

The notice shall: (a) Recite that a bondholders’ proposal has been filed. (b) Briefly indicate its terms. (c) Refer to the resolution of intention, the bondholders’ proposal, the diagram, and assessment on file for further particulars.

The notice shall contain a statement that before the legislative body may finally confirm the diagram, assessment, bondholders’ proposal, and proceedings, there shall be filed with the clerk the written consent of the owners of: (a) A majority in area of the land in the district …

The notice shall state that any such owner may file his written consent to the refunding at any time prior to the adoption of the resolution of final confirmation.

The notice shall be posted for not less than 10 days on or near the door of the chamber in which the legislative body conducts its regular public meetings.

Before the date designated for the hearing, the notice shall be published twice in the newspaper in which the resolution of intention was published, if still existing, otherwise in any newspaper designated by the legislative body. The first publication shall be at least 10 days b…

The clerk shall mail a copy of the notice to the owners at least 10 days prior to the time fixed for the hearing.

The mailed notice shall also: (a) Designate the property within the new district belonging to the owner by a description sufficient to enable him to identify it, or by its diagram number and referring to the diagram filed with the clerk. (b) State the amount proposed to be assess…

As used in this article, “interested person” means an owner or any other person interested in any of the following: (a) The proposed acquisition and cancellation of original bonds. (b) The diagram. (c) The assessment. (d) The bondholders’ proposal.

Prior to the time fixed for the assessment hearing any interested person may appeal to the legislative body by briefly stating in writing the grounds of his appeal. Such appeal may be made upon any of the following grounds: (a) That he feels aggrieved by any act or determination …

At the time set for hearing protests the legislative body shall hear and pass upon all protests so made.

Upon such appeal, the legislative body may: (a) Remedy and correct any error or informality in the proceedings. (b) Revise and correct any of the acts or determinations of the person who made the diagram and assessment. (c) Confirm, amend, or correct the assessment or diagram in …

After notice and hearing of assessment pursuant to this chapter all the decisions of the legislative body are conclusive upon all persons entitled to appeal, as to all errors and irregularities which it has power to avoid or remedy during the proceedings or at the hearing.

If the resolution of intention is actually published pursuant to this chapter, a court shall not invalidate any assessment, diagram, or proceedings prior to the assessment, for any informality, or other defect.

When no appeal is taken or when the orders and determinations of the legislative body upon appeal have been complied with and it is satisfied with the correctness of the assessment, it shall forthwith by resolution preliminarily confirm the proceedings, the assessment and diagram…

In the resolution the legislative body shall determine: (a) The amount for which each issue of original bonds are to be acquired. (b) The amount of the reassessment. (c) The number of years for which the new bonds are to be issued. (d) The interest rate on the new bonds.

Before the legislative body may proceed after the preliminary confirmation or finally confirm the proceedings, including the diagram, assessment, and proposals, there shall be filed with the clerk written consents to the assessment readjustment and bond refunding proceedings as p…

The State Controller may sign any consent to the refunding and reassessment for the State and the board of supervisors of the county in which the property lies may consent to the refunding and reassessment by resolution. If pursuant to law a city or other municipal or public corp…