SECTIONS 30980-30982 - California Statutes

PUBLIC UTILITIES CODE

SECTION 30980-30982

30980. The district may bring an action to determine the validity
of any of its bonds, equipment trust certificates, warrants, notes,
or other evidences of indebtedness pursuant to Chapter 9 (commencing
with Section 860) of Title 10 of Part 2 of the Code of Civil
Procedure.

30981. Notwithstanding any other provisions of this part or any
other law, the provisions of all ordinances, resolutions and other
proceedings in the issuance by the district of any bonds, bonds with
a pledge of revenues, bonds for improvement districts, revenue bonds,
equipment trust certificates, notes, or any and all evidences of
indebtedness or liability shall constitute a contract between the
district and the holders of such bonds, equipment trust certificates,
notes or evidences of indebtedness or liability and the provisions
thereof shall be enforceable against the district, any or all of its
successors or assigns, the state, any department of the state, or any
officer thereof, by mandamus or any other appropriate suit, action
or proceeding in law or in equity in any court of competent
jurisdiction. Nothing contained in this part or in any other law
shall be held to relieve the district or the territory included
within it from any bonded or other debt or liability contracted by
the district. Upon dissolution of the district or upon withdrawal of
territory therefrom, the property formerly included within the
district or withdrawn therefrom shall continue to be liable for the
payment of all bonded and other indebtedness or liabilities
outstanding at the time of such dissolution or withdrawal the same as
if the district had not been so dissolved or the territory withdrawn
therefrom, and it shall be the duty of the state or other successors
or assigns to provide for the payment of such bonded and other
indebtedness and liabilities. Except as may be otherwise provided in
the proceedings for the authorization, issuance and sale of any
revenue bonds, bonds secured by a pledge of revenues or bonds for
improvement districts secured by a pledge of revenues, revenues of
any kind or nature derived from any revenue-producing improvements,
works, facilities or property owned, operated or controlled by the
district shall be pledged, charged, assigned and have a lien thereon
for the payment of such bonds as long as the same are outstanding,
regardless of any change in ownership, operation or control of such
revenue-producing improvements, works, facilities or property and it
shall, in such later event or events, be the duty of the state or
other successors or assigns to continue to maintain and operate such
revenue-producing improvements, works, facilities or property as long
as bonds are outstanding.

30982. All bonds and other evidences of indebtedness issued by the
district under the provisions of this part, and the interest thereon,
are free and exempt from all taxation within the State of
California, except for transfer, franchise, inheritance and estate
taxes.