§ 53351. — 53351. (Amended by Stats. 1987, Ch. 1440, Sec. 13.)

California § 53351.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 2.
• Title 5.: DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES
• Part 1.: PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES
• Ch. 2.5.: CHAPTER 2.5. The Mello-Roos Community Facilities Act of 1982
• Art. 5.: ARTICLE 5. Bonds

Text

After the legislative body has made its determination pursuant to Section 53350, if it deems it necessary to incur the bonded indebtedness, it shall by resolution state all of the following:
(a)
That it deems it necessary to incur the bonded indebtedness.
(b)
The purpose for which the bonded indebtedness will be incurred.
(c)
Either of the following in accordance with its previous determination:
(1)
That the whole of the district will pay for the bonded indebtedness.
(2)
That a portion of the district will pay for the bonded indebtedness, which portion shall be described in the resolution of the board made pursuant to Section 53350.
(d)
The amount of debt to be incurred.
(e)
The maximum term the bonds to be issued shall run before maturity, which term shall not exceed 40 years.
(f)
The maximum annual rate of interest to be paid, payable annually or semiannually, or in part annually and in part semiannually.
(g)
That the proposition will be submitted to the voters.
(h)
The date of the special community facilities district election (which may be consolidated with a general or special district election including an election to levy a special tax) at which time the proposition shall be submitted to the voters.
(i)
If the election is not conducted by mail ballot, the hours between which the polls shall be open.
(j)
If the election is conducted by mail ballot, the hour when the mailed ballots are required to be received in the office of the election officer conducting the election, and that if all qualified electors have voted, the election shall be closed.

Legislative History

Amended by Stats. 1987, Ch. 1440, Sec. 13.