SECTIONS 29700-29705 - California Statutes

PUBLIC UTILITIES CODE

SECTION 29700-29705

29700. At any time after the approval by the board of the creation
of a special service district, as provided in Section 29674, the
board may provide for the submission of a proposition for the
incurring of a bonded indebtedness to be incurred by the district on
behalf of the special service district to pay the costs of acquiring,
constructing or completing the whole or any portion of any transit
facilities, or for acquiring any works, lands, structures, rights,
equipment, or other property necessary or convenient to carry out the
objects, purposes or powers of the district within the boundaries of
a special service district created pursuant to this chapter.

29701. The proposition for incurring a bonded indebtedness under
Section 29700 may be submitted to the voters at the same election as
the proposition to create the special service district held pursuant
to Article 3 (commencing with Section 29680), or at an election
subsequent to the creation of the special service district.

29702. Except as otherwise provided in this chapter, the provisions
of Chapter 8 (commencing wtih Section 29150) relating to general
obligation bonds with the exception of Sections 29150 to 29158,
inclusive, shall substantially govern as to all matters pertaining to
the manner of calling, giving notice and holding the bond election,
the execution, issuance, sale, maturity, redemption, refunding and
validation of the bonds authorized by this article, the payment of
interest from bond funds, the status of the bonds as investments, the
reissuance of bonds, notes, coupons or other evidence of
indebtedness which have been lost, destroyed, damaged or mutilated,
and past due bonds.

29703. Only those registered voters residing within the boundaries
of the special service district shall be entitled to vote on the
proposition for the incurring of a bonded indebtedness. The favorable
vote of three-fifths of all the voters voting on the proposition to
authorize the issuance of bonds at the election held pursuant to
Section 29701 within the special service district as finally
established is required to authorize the issuance of the bonds.

29704. Only the property in the special service district shall be
taxable for the payment of the principal and interest on special
service district bonds. Until the bonds are paid, taxes shall be
levied in substantial compliance with Chapter 7 (commencing with
Section 29120) and Section 29183.

29705. Any proceedings denying the validity of the creation of any
special service district, or of any bonds authorized by the voters
thereof, pursuant to this part, shall be brought within three months
after the date upon which the applicable proposition is approved by
the voters.