SECTIONS 22850-22851 - California Statutes

PUBLIC UTILITIES CODE

SECTION 22850-22851

22850. In addition to any other powers of the district to finance
improvements and to provide an independent method of financing from
that contained in any other sections of the California Airport
District Act, subject to the provisions of this article a district
may borrow money to provide funds to pay all costs of any public
improvement authorized by this part and may issue revenue bonds to
evidence the indebtedness created by such borrowing.
Such revenue bonds shall constitute special obligations and
evidence a special indebtedness of the district which shall be a
charge upon and payable as to the principal thereof, interest
thereon, and any premiums upon the redemption of any thereof, solely
from such revenues and funds as are specified therein and in the
proceeding for their issuance. They shall not constitute general
obligations of the district, and they shall neither constitute
obligations nor evidence any indebtedness of any other public agency
of which the district may be a part or of the State.
All such bonds shall recite upon their face the substance of the
preceding portions of this section and shall also recite upon their
face that they are issued under this article.

22851. Revenue bonds under this article shall be authorized, issued
and sold under the provisions of the Revenue Bond Law of 1941
(Chapter 6 (commencing with Section 54300), Part 1, Division 2, Title
5, Government Code).