California § 5451.5. 5451.5. (Added by Stats. 2011, Ch. 742, Sec. 1.)

California Statutes

§ 5451.5. — 5451.5. (Added by Stats. 2011, Ch. 742, Sec. 1.)

California § 5451.5.

JurisdictionCalifornia

Code GOVGovernment Code - GOV

Div.6.

Title 1.DIVISION 6. PUBLIC BONDS AND OBLIGATIONS

Ch. 5.5.CHAPTER 5.5. Collateral Security for Bonds

This text of California § 5451.5. (5451.5. (Added by Stats. 2011, Ch. 742, Sec. 1.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Government Code - GOV Code § 5451.5. (2026).

Text

(a)All obligations of the West Contra Costa Healthcare District in connection with any and all certificates of participation executed and delivered by or on behalf of the district between June 8, 2004, and December 31, 2012, including certificates of participation executed and delivered before January 1, 2035, to refund those certificates of participation, shall be secured by a statutory lien on all of the revenues generated from parcel taxes levied pursuant to Measure D, approved by the voters of the district at the special election held on June 8, 2004.

(b)This lien shall arise automatically without the need for any action or authorization by the district or the board of directors of the district. The lien shall be valid and binding from the time the certificates of participation

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(a)
All obligations of the West Contra Costa Healthcare District in connection with any and all certificates of participation executed and delivered by or on behalf of the district between June 8, 2004, and December 31, 2012, including certificates of participation executed and delivered before January 1, 2035, to refund those certificates of participation, shall be secured by a statutory lien on all of the revenues generated from parcel taxes levied pursuant to Measure D, approved by the voters of the district at the special election held on June 8, 2004.
(b)
This lien shall arise automatically without the need for any action or authorization by the district or the board of directors of the district.
The lien shall be valid and binding from the time the certificates of participation are executed and delivered.
(c)
The parcel tax revenue shall immediately be subject to this lien, and the lien shall immediately attach to the parcel tax revenue and be effective, binding, and enforceable against the district, its successors, purchasers of those revenues, creditors, and all others asserting rights therein, irrespective of whether those parties have notice of the lien and without the need for any physical delivery, recordation, filing, or further act.