Section § 13081

Explanation

This section explains that, unless there's a specific reason to interpret it differently, the rules outlined in this article are used to understand how to interpret the rest of the chapter.

Unless the context otherwise requires, the provisions of this article govern the construction of this chapter.

Section § 13082

Explanation

This law section explains that the term “bonds” also includes notes, certificates, and other types of debt. It applies only to bonds issued under this specific chapter.

“Bonds” includes the meaning of “notes, certificates and other evidences of indebtedness” and in every case refers only to bonds issued under this chapter, whether so specified or not.

Section § 13083

Explanation

This law clarifies that when the term "refund" is used, it also means to "extend" or "renew." Essentially, if something is refunded, it can also be continued or prolonged.

“Refund” includes the meaning of “extend” and “renew.”

Section § 13084

Explanation

This law section defines the term “assented to by the voters” as a situation where a proposition has been presented to the voters in a district, and a majority of those who voted on it have approved it.

“Assented to by the voters” means that the proposition indicated by the context has been submitted to the voters of the district, and has been assented to by a majority of those voters who voted upon that proposition at the election.

Section § 13085

Explanation

"Payments on principal" refers to any payments made toward the main amount borrowed with a bond. This can occur when the bond matures or through scheduled payments into a sinking fund that's used to pay back the principal. It also covers any extra amounts that must be paid when bonds are redeemed early as required by the sinking fund terms.

“Payments on principal” means payments on account of the principal of bonds, whether upon maturity or by payments into a sinking fund on account of principal, and includes premiums required to be paid on the mandatory redemption of sinking fund bonds.