SECTIONS 98330-98335 - California Statutes

PUBLIC UTILITIES CODE

SECTION 98330-98335

98330. Bonds authorized by this chapter shall mature serially in
amounts to be fixed by the board; except that payment shall begin not
later than 10 years from the date thereof and shall be completed in
not more than 50 years from that date.

98331. The board may divide any issue of bonds authorized pursuant
to this chapter into two or more series, and may fix different dates
of issuance and different maturity dates for the bonds of each
series. The bonds of each series shall mature serially in amounts to
be fixed by the board, and the board shall fix a date not more than
10 years from the date of issuance of each series for the earliest
maturity of such series and shall fix a date not more than 50 years
from the date of issuance of each series for the final maturity of
such series.

98332. Pending the actual issuance or delivery of bonds, a district
may issue temporary or interim bonds, certificates, or receipts, of
any denomination whatsoever, with or without coupon, and in such form
as may be prescribed by the board, to be exchanged for definite
bonds when ready for delivery.

98333. The bonds shall be issued in such denominations as the board
determines, except that no bonds shall be issued of a denomination
less than one thousand dollars ($1,000) and shall be payable on the
day and at the place or places fixed in the bond, and with interest
at the rate specified therein, payable semiannually.

98334. The board may at any time prior to the issuance and sale of
any bonds provide for the call and redemption of any or all of the
bonds on any interest payment date prior to their fixed maturity at
not exceeding the par value and accrued interest plus a premium of
not exceeding 5 percent upon the principal amount of the bonds, in
which event the call price of such redemption shall be set forth on
the face of the bond. Notice of such redemption shall be published.
If there is no newspaper of general circulation printed and published
within the district, then the publication shall be made in a
newspaper of general circulation, printed and published within the
district, then the publication shall be made in a newspaper of
general circulation, printed and published within the county, or any
part thereof is situated. The first publication shall be at least 30
days prior to the date fixed for the redemption. After the date fixed
for such redemption interest on the bonds thereafter shall cease.

98335. The bonds shall be signed by the chairman of the board or by
such officer of the district as the board shall by resolution
authorize and designate for that purpose. They shall also be signed
by the treasurer, and be countersigned by the auditor. The coupons of
the bonds shall be numbered consecutively and be signed by the
treasurer. All signatures and countersignatures on the bonds, except
one of the signatures or countersignatures on the bonds, may be
printed, lithographed or engraved. If any officer whose signature or
countersignature appears on the bonds or coupons ceases to be such
officer before the delivery of the bonds to the purchaser, the
signature or countersignature is nevertheless valid and sufficient
for all purposes as if he had remained in office until the delivery
of the bonds.