SECTIONS 59210-59226 - California Statutes

GOVERNMENT CODE

SECTION 59210-59226

59210. Before ordering the acquisition and cancellation of any
bonds, the legislative body shall adopt a resolution declaring its
intention to do so.

59211. The resolution shall contain a description of the boundaries
of the new district.

59212. If the resolution provides that all of the original bonds of
only one district are to be acquired and canceled, the exterior
boundaries of the new district shall be coterminous with the exterior
boundaries of the district as fixed in the original proceedings. The
property to be assessed in the new district pursuant to this chapter
shall be the property assessed in the original proceedings.

59213. The original bonds of contiguous or overlapping districts
may be acquired and canceled in a single proceeding. All or part of
each of such districts shall lie within the local agency whose
legislative body proposes to conduct the proceedings.

59214. If the resolution of intention provides that all of the
original bonds of more than one contiguous or overlapping district
are to be acquired and canceled, the exterior boundary of the new
district shall encompass all property within the composite area
formed by such contiguous or overlapping districts. The property to
be assessed in the new district shall be the property assessed in the
various original proceedings.

59214.5. Less than all of the original bonds of a district or more
than one overlapping districts may be acquired and canceled in a
single proceeding when all of the original bonds to be acquired and
canceled have been issued pursuant to the Improvement Act of 1911.
When less than all of the original bonds of a district or districts
are to be acquired and canceled the boundaries of the new district
shall encompass all properties described in the original bonds to be
acquired and canceled.

59215. No property within the new district shall be charged in the
new assessment with any of the debt of a district of which it was not
formerly a part.

59216. In the resolution of intention the new district may be
described or reference made to a map, pursuant to the Improvement Act
of 1911.

59217. 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 amount of such bonds outstanding against each
district when the resolution of intention is adopted.
(d) Refer to the serial numbers of the original bonds and set
forth the total amount of such bonds outstanding at the time the
resolution of intention is adopted, when less than all of the
original bonds of a district are to be acquired and canceled.

59218. 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 year.

59219. 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 towards incidental expenses, will be used
to reduce the reassessment to be levied.

59220. 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.

59221. 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 body and show cause why the new district
should not be created, or new bonds issued to acquire and cancel the
original bonds and to pay the cost of the proceedings under the
resolution of intention.

59222. The time shall be not less than 15 nor more than 60 days
after the adoption of the resolution.

59223. 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.

59224. 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.

59225. The notice shall be entitled "Notice to Owners of Proposed
Assessment and Bond Refunding."

59226. 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.