SECTIONS 40581-40585 - California Statutes

GOVERNMENT CODE

SECTION 40581-40585

40581. Pursuant to this chapter an authority may create a revenue
bond indebtedness for the acquisition and construction of any
improvements or property or facilities contained within its powers.

40582. Proceedings for the issuance of the bonds shall be had, the
commission shall have such powers and duties, and the bondholders
shall have such rights and remedies, all in substantial accordance
with, and with like legal effect, as provided in Chapter 6
(commencing with Section 54300) of Part 1 of Division 2 of Title 5.
As used in that chapter, "resolution" means ordinance, the word
"local agency" means authority, and "legislative body" means
commission.

40583. The clerk shall publish the revenue bond ordinance once in a
newspaper of general circulation published in the city, city and
county, or county and if there is none, then in such newspaper of
general circulation as the authority may deem most likely to give
notice to the residents of the city, city and county, or county.

40584. The revenue bond ordinance shall specify the total amount,
denomination, method of maturity, and the rate or maximum rate of
interest of said bonds, and in general terms, the acquisitions and
improvements to be constructed thereby; and, in addition, shall
contain such other and further provisions as in the judgment of the
commission are deemed advisable.

40585. The commission may pledge all or any part of the revenues
which shall be derived by it from the sale and leasing of property.