SECTIONS 59270-59273 - California Statutes

GOVERNMENT CODE

SECTION 59270-59273

59270. The legislative body shall cause a notice of the refunding
to be published in a newspaper designated by it.

59271. The notice shall be headed substantially as follows: "Notice
to assessment and bondholders of proposed refunding."

59272. 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 for which and the character of the proposed
new bonds.
(f) The maximum term of the bonds.
(g) The maximum rate of interest to be paid on them.

59273. 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 for any one of the following:
(a) Delivery of new bonds against the district described in the
resolution of intention.
(b) A cash sum to be specified in the proposal.
(c) The delivery and payment of any combination of such bonds and
cash specified in the proposal.