This law allows counties in California to take on debt by issuing bonds for specific purposes. They can acquire bonds issued either by the county itself, any district within the county, or for public improvements like street work. The bonded debt can also be backed by assessments from such improvement projects. Some specific acts mentioned that govern these improvements and bonds include the Road District Improvement Act of 1907, the Acquisition and Improvement Act of 1925, and the Street Opening Bond Act of 1921.

This law is about how counties should invest their funds. The investments should help improve public facilities in the county, avoid raising local taxes that could reduce general county revenue, and provide ways to lower district debt or bonds.

This law section states that bonds mentioned in this article can be issued and sold under Article 1 or any other laws that manage the issuance and sale of general county obligations, unless specified differently in this article.

This law section states that the interest rate on bonds can vary throughout their life. Different rates can be set for different interest payments on the bonds.

This law section explains that if new bonds are being issued to buy already existing bonds, then the election order should clearly outline which bonds are to be bought, the total amount of these bonds, and the highest price the buyer is willing to pay. This stated maximum price cannot be surpassed in the transaction.

This law states that bonds cannot be sold for less than their face value. It also allows for these bonds to be exchanged for existing bonds, as long as the exchange is at their face value and the price of the existing bonds does not exceed the previously determined maximum price.

This law section states that bonds must be redeemed and paid as specified in Article 1.

This law states that taxes needed to pay off bonds will be collected based on standard procedures, unless the bonds are all set to mature at the same time. In that case, taxes must be collected each year to cover the interest and to build up a sinking fund, which is money set aside to pay off the debt eventually.

This law requires that any money made from selling bonds must be kept separate from other county funds in a special account called the 'General improvement fund.'

This section requires the board to use the money from the general improvement fund to buy bonds. These bonds must be issued by the county or for specific local projects like highway, sewer, or drainage improvements within the county.

This law outlines that when a board issues bonds, the money collected from these bonds must generally go into the general improvement fund. However, if the bonds are specifically issued to buy back certain existing bonds, the money should be used only for that buyback purpose. Any extra money, along with any payments received from these bonds, should then be used to pay off the principal and interest of the newly issued bonds.

This law allows the board to sell bonds it has bought, as long as the selling price isn't less than what was originally paid. The money received from selling these bonds, along with any interest that has accumulated, must go into the general improvement fund. This money can then be used to buy more bonds unless the rules don't allow for it.

When a county owns bonds related to district taxes or assessments based on property values, the board of supervisors can decide each year not to collect certain amounts for bond payments if there are delinquencies. They might also choose not to collect for potential future payment failures. However, any taxes or assessments must follow the rules from when the bonds were originally issued, though the total amount can be kept under certain limits specified in this section.

When the board buys bonds for less than their face value, they can decide to lower the total principal amount of those bonds. The new total amount can't be less than the amount they paid for these bonds, based on their face value.

This ordinance outlines the process for reducing an issue of bonds. It specifies what needs to be included, such as the total amount being reduced, what was paid for their purchase, and details about the bonds to be canceled like their numbers and maturity dates. It also states when and where the cancellation will occur. Notably, this ordinance can be challenged through a referendum, meaning the public can vote on it if they disagree.

This law says that unless there's a protest petition against the ordinance, the bonds will be publicly canceled at a specified time and place. Once that's done, the board of supervisors' clerk must record the cancellation details on the board's minutes, noting enough information to clearly identify the canceled bonds and when they were canceled.

This law section explains what happens when certain bonds, created to fund public works or improvements, are canceled. Specifically, if a city or county used bonds from the Improvement Bond Act of 1915 for a project under the Improvement Act of 1911, the unpaid bond amount determines how much local assessments (extra charges on properties benefiting from the improvements) are reduced. The local government board must figure out a way to fairly reduce these charges and properly cancel the portion that corresponds to the canceled bonds while making sure that the remaining charges are still collected according to the original terms.

This law states that bonds issued under this specific article can be set to become due all at once, but the repayment date must be within 20 years from when they were issued.

This law section states that if bonds mature at the same time, a yearly tax needs to be imposed. This tax should be enough to cover the interest payments when they are due and to save up funds to pay the original bond amount by the maturity date. The amount of money collected for the repayment of the bond's principal should at least be equal to dividing the total bond amount by the number of years until maturity.

This law section explains that if a group of bonds is scheduled to all mature at the same time, they can be redeemed early, in numerical order, on any date designated for interest payments. This is only possible if each bond includes a statement that allows for early redemption. If the bond doesn’t include this statement, it cannot be redeemed before its maturity date.

This law requires that every year, at least 60 days before a scheduled interest payment date, the county board must check if there's enough money in the sinking fund to buy back any existing bonds. If there is, they must announce this by publishing a notice in a local newspaper for two weeks. This notice invites people to submit offers to sell these bonds back to the county. The notice must also say how much money is available to redeem the bonds and indicate the specific time and place where these offers will be reviewed.

This law states that if no suitable proposals are submitted or accepted to use the funds set aside for bond redemption, the board should redeem the outstanding bonds in sequential order using the available money.

This law mandates that when bonds are being called for redemption, a notice must be published in a local newspaper every week for two weeks. The first notice must appear at least 30 days before the redemption date.

When a bond is due for redemption, it will be bought back at its face value, along with any interest that has accumulated up to that redemption date.

If bonds are called for redemption and not presented on the set date, the necessary funds to pay the principal and any interest owed up to that date will be put into a special fund. After the redemption date, these bonds will no longer earn interest.

This law establishes an alternative method for issuing bonds and doesn't change any existing bond issuance laws. If the board decides to use this method, the outlined procedure in this article must be followed.