SECTIONS 5301-5313 - California Statutes

PUBLIC RESOURCES CODE

SECTION 5301-5313

5301. Any city or city and county may acquire and hold land for
public parks, or public boulevards, or both, by purchase, or by
condemnation.

5302. The land may be within the corporate limits of the city or
city and county or conveniently adjacent. In either case it shall be
subject to the jurisdiction of the municipality acquiring it, and to
its laws, ordinances, rules, and regulations.

5303. The legislative body of any city or city and county may, by
ordinance, or in such manner as other municipal legislative acts are
enacted by it, determine what lands are necessary and proper to be
acquired for public parks or boulevards.

5305. The legislative body of the city or city and county may, by
ordinance or in such manner as other municipal legislative acts are
enacted by it, call an election and submit to the qualified electors
of the municipality a proposition to issue bonds of the municipality,
to a specified amount, the proceeds to be applied exclusively to the
acquisition, maintenance, and improvement of its public parks, or
boulevards, or both. The election shall be conducted, and the result
determined substantially as are other local municipal elections of
the municipality in which it is held.

5306. If at the election two-thirds of the qualified electors who
vote assent to the issuance of the bonds, the city or city and county
may, by ordinance, or in such manner as other municipal legislative
acts are enacted by it, provide for the issuance of, and cause to be
issued, its bonds to the amount specified and voted for.
The bonds shall mature and become due and payable at a time not
exceeding 20 years, and shall bear interest at a rate not exceeding 8
percent a year, payable annually. Before or at the time of the
issuance of the bonds, provision shall be made for the collection of
an annual tax sufficient to pay the interest as it falls due, and to
constitute a sinking fund to pay the principal at maturity.

5307. The bonds shall be numbered consecutively from one upwards,
and shall be issued in the order of their respective numbers,
commencing with number one. There shall be attached coupons for the
payment of the annual interest.
The bonds shall be known and designated either as the "park and
boulevard," or "park," or "boulevard" bonds of the municipality
issuing them. Each bond shall not exceed in the amount of its
principal one thousand dollars, and may be in any smaller amount.

5308. The bonds or any number issued shall be sold to the highest
bidder, after advertised notice for sealed proposals. No bid of less
than par value shall be accepted, nor shall any bonds be sold during
any one year in excess of the actual expenditures incurred in that
year.

5309. The money obtained from the sale of the bonds shall be kept
in a separate fund, and shall be used exclusively for the
acquisition, or maintenance, or improvement of the public parks or
boulevards, or both, of the municipality issuing them, and for no
other use or purpose.

5310. Whenever there is in the sinking fund an amount sufficient
for the purpose, the legislative body of the municipality issuing the
bonds, may, by ordinance or in such manner as other municipal
legislative acts are enacted by it, cause notice to be given by
advertisement, stating the amount in the sinking fund available for
the redemption of the bonds, and inviting sealed proposals for the
redemption, surrender, and cancellation of bonds, with interest, to
the specified amount in the sinking fund. At the date designated in
the notice the bids, if any, shall be opened and the bids offering to
surrender bonds for the lowest sum, not more than par value, shall
be accepted.

5311. If sufficient bids are not received to consume the money in
the sinking fund, and a sum sufficient for the purpose still remains
in the sinking fund, notice shall be given by advertisement for not
less than thirty days, stating that there is an amount, to be
specified in the notice, still remaining in the sinking fund to be
applied to the redemption of the bonds with interest, having the
highest numbers, specifying the numbers. If those bonds are not
presented for redemption, surrender, and cancellation within the time
specified in the notice, they shall thereafter cease to draw
interest. The amount in the sinking fund shall be kept for their
redemption when presented, but no more shall be paid than the amount
of principal and interest due at the expiration of the time specified
in the notice.

5312. Any city or city and county availing itself of the provisions
of this article, may, by ordinance or in such manner as other
municipal legislative acts are enacted by it, prescribe further
conditions and provisions for the issuance and sale of the bonds and
for their redemption which are not inconsistent with the Constitution
of this State, or the provisions of this article, or the charter or
act of incorporation of the city or city and county.

5313. All notices and advertisements provided for in this article
shall be given by publication in a newspaper, if there is one
published within the municipality; if there is none, then by posting
in at least three public places within the municipality. When no
other time is prescribed in this article, the legislative body of the
municipality shall fix a reasonable time. Bonds issued pursuant to
this article, and sold to purchasers in good faith, shall not be held
to be invalid for any defect in any of the notices provided for.