SECTIONS 30960-30970 - California Statutes

PUBLIC UTILITIES CODE

SECTION 30960-30970

30960. Whenever the board deems it necessary for the district to
incur a bonded indebtedness for the acquisition, construction,
development, joint development, completion, operation, maintenance,
or repair of any or all improvements, works, property, or facilities
authorized by this part or necessary for, incidental to, or
convenient for carrying out the powers of the district, or for any
other purpose authorized by this part and to provide for the bonded
indebtedness to be payable from taxes levied upon less than all of
the district, it shall, by resolution adopted by a vote of two-thirds
of all members of the board, so declare and state all of the
following:
(a) The purposes for which the proposed debt is to be incurred,
which may include all costs and estimated costs incidental to, or
connected with, the accomplishment of those purposes, including,
without limitation, engineering, inspection, legal, fiscal agents,
financial consultant, and other fees, bond and other reserve funds,
working capital, bond interest estimated to accrue during the
construction period and for a period not to exceed three years
thereafter, and expenses of all proceedings for the authorization,
issuance, and sale of the bonds.
(b) The estimated cost of accomplishing those purposes and the
amount of the principal of the indebtedness to be incurred.
(c) That the board intends to form an improvement district or
districts of a portion or portions of the district which, in the
opinion of the board, will be benefited, the exterior boundaries of
which portion or portions are set forth on a map on file with the
secretary of the district, which map shall govern for all details as
to the extent of the proposed improvement district or districts, and
to call an election in the proposed improvement district or districts
on a date to be fixed for the purpose of submitting to the qualified
voters thereof the proposition of incurring indebtedness by the
issuance of bonds of the district for the improvement district or
districts.
(d) That taxes for the payment of the bonds and the interest
thereon shall be levied exclusively upon the taxable property in the
appropriate improvement district.
(e) The extent to which, if at all, all or a portion of the
revenues of the district are to be used as provided in Section 30803
to pay the principal of, interest on, and sinking fund payments for
the bonds, including the establishment and maintenance of any reserve
fund therefor.
(f) That a general description of the proposed improvement,
together with a map showing the exterior boundaries of the proposed
improvement district or districts with relation to the territory
immediately contiguous thereto and to the proposed improvement, is on
file with the secretary of the district and is available for
inspection by any person or persons interested.
(g) The time and place for a hearing by the board on the questions
of the formation of the proposed improvement district or districts,
the extent thereof, the proposed improvement, the estimated cost, and
the amount of debt to be incurred.
(h) That, at the time and place specified in the resolution, any
person interested, including all persons owning property in the
district or in the proposed improvement district or districts, will
be heard.

30961. Notice of said hearing shall be given by publishing a copy
of the resolution declaring the necessity pursuant to Section 6066 of
the Government Code prior to the time fixed for the hearing in at
least one newspaper published in the district.

30962. At the time and place so fixed, or at any time and place to
which the hearing is adjourned, the board shall proceed with the
hearing. At the hearing, any person interested, including any person
owning property within the district or within the proposed
improvement district or districts, may appear and present any matters
material to the questions set forth in the resolution declaring the
necessity.

30963. The board may change the purposes for which the proposed
debt is to be incurred, or the estimated cost, or the amount of
bonded debt to be incurred, or the boundaries of the proposed
improvement district or districts, or one or all of those matters.
However, the board shall not change the boundaries so as to include
any territory which will not, in its judgment, be benefited by the
improvement.

30964. The purposes, estimated cost, amount of bonded debt, or
boundaries shall not be changed by the board except after notice of
its intention to do so, given by publication pursuant to Section 6061
of the Government Code in at least one newspaper published in the
district. The notice shall state the changed purposes and the
estimated cost and debt proposed and that the exterior boundaries as
proposed to be changed are set forth on a map on file with the
secretary of the district, which map shall govern for all details as
to the extent of the proposed improvement district or districts, and
specify the time and place for hearing on the change or changes,
which time shall be at least 10 days after the publication of the
notice.

30965. At the time and place so fixed, or at any time and place to
which the hearing is adjourned, the board shall proceed with the
hearing. At the hearing, any person interested, including any person
owning property within the district or the proposed improvement
district or districts, may appear and present any matters material to
the changes stated in the notice.

30966. At the conclusion of the hearing, the board shall, by
resolution, determine whether it is deemed necessary to incur the
bonded indebtedness, and, if so, the resolution shall also state the
purposes for which the proposed debt is to be incurred, the estimated
cost of accomplishing those purposes, the amount of the proposed
debt, that the exterior boundaries of the portion or portions of the
district which will be benefited are set forth on a map on file with
the secretary of the district, which map shall govern for all details
as to the extent of the improvement district or districts, and that
each portion or portions of the district set forth on the map shall
thereupon constitute and be known as "Improvement District No. ____
of the Southern California Rapid Transit District," and the
determinations made in the resolution shall be final and conclusive.

30967. After the formation of the improvement district or districts
within the district pursuant to this article, all proceedings for
the authorization and issuance of bonds of the district for the
improvement district or districts shall be limited and shall apply
only to the improvement district or districts; and taxes for the
payment of those bonds and the interest thereon shall be levied
exclusively upon the taxable property in the improvement district or
districts; and the revenues of the district shall be used only to the
extent set forth in the resolution declaring the necessity.

30968. After the board has made its determination of the matters
required to be determined by resolution pursuant to Section 30966,
and if the board deems it necessary to incur the bonded indebtedness,
the board shall, by a further resolution, call a special election in
the improvement district or districts for the purpose of submitting
to the qualified voters thereof the proposition of incurring
indebtedness by the issuance of bonds of the district for the
improvement district or districts. The resolution shall state all of
the following:
(a) That the board deems it necessary to incur the bonded
indebtedness.
(b) The purposes for which the bonded indebtedness will be
incurred.
(c) The estimated cost of accomplishing those purposes.
(d) The amount of the principal of the indebtedness to be
incurred.
(e) The improvement district or districts to be benefited by those
indebtedness, as set forth in the resolution making determinations,
and that a map showing the exterior boundaries of the improvement
district or districts is on file with the secretary of the district,
which map shall govern for all details as to the extent of the
improvement district or districts.
(f) That taxes for the payment of those bonds and the interest
thereon shall be levied exclusively upon the taxable property in the
improvement district or districts; and that revenues of the district
shall be used only to the extent set forth in the resolution
declaring the necessity.
(g) The maximum term the bonds proposed to be issued shall run
before maturity, which shall not exceed 50 years from the date
thereof or the date of each series thereof.
(h) The maximum rate of interest to be paid, which shall not
exceed the maximum rate allowed by law.
(i) The proposition to be submitted to the voters which may
include one or more purposes.
(j) The date of the election.
(k) The manner of holding the election and the procedure for
voting for and against the measure.

30969. Thereafter the provisions relating to the authorization and
issuance of bonds, Sections 30901 to 30914, inclusive, shall apply.

30970. Any action or proceeding, wherein the validity of the
formation of the improvement district or districts or of any bonds or
of the proceedings in relation thereto is contested, questioned, or
denied, shall be commenced within three months from the date of the
election; otherwise, the bonds and all proceedings in relation
thereto, including the formation of the improvement district or
districts, is valid and in every respect legal and incontestable.