This section defines "bonds" as revenue bonds that are issued according to the rules outlined in this part of the law.

Before a city in California can issue bonds, the question of using revenue bonds for financing certain projects must be put to a vote by the city's residents at a general or special election. If the majority of voters agree, the city or the designated authority can proceed to issue bonds as needed. However, if the city has previously received voter approval for issuing bonds specifically for parking facilities, it can issue bonds without asking the voters again.

This section allows a legislative body to propose to voters the issuance of revenue bonds for funding specific projects. If a majority of voters approve, the city or authority can issue these bonds, making sure not to exceed the approved amount for the projects mentioned in the proposal.

This law states that certain rules about issuing bonds don't apply if the bonds are being used to fund a project that the city will lease and if the city will pay for the bonds' principal and interest through rental payments under the lease agreement.

This law section allows an authority to borrow money for projects by issuing revenue bonds. These bonds are special financial commitments that are paid back only from specific revenues and funds mentioned in the bond agreement. They do not create any debt for the city or the state.

This law states that certain bonds are special obligations only of the issuing authority, not the city or state. These bonds are paid back only from specified revenues and funds, as detailed in their issuance documents. They will show these details clearly on their face and reference the specific part under which they are issued.

This law explains that an authority has the flexibility to issue bonds and specify how their repayment will be managed. Bonds can be repaid in several ways: solely from the revenue generated by the parking facilities they were used to finance, from income from designated facilities, from the authority's general revenues, from contributions or assistance from local or federal sources, from city parking meter revenues, or a mix of these sources.

In this law, cities can use parking meter revenue (money collected from parking meters) to secure bonds. This means they can promise this revenue to investors as a way to back the bonds, ensuring the bonds can be paid off. The city can dedicate the money from parking meters or special taxes for as long as needed to fund or operate projects approved by the law and to pay off both the main amount (principal) and interest of those bonds.

This section clarifies that various financial methods are allowed for paying off bonds. It states that nothing in the rules forbids the following: First, using money gained from premiums or interest acquired during the sale of the bonds to pay interest or principal. Second, using the income from new bonds issued to refund old ones. Third, using the bond sale proceeds to pay interest during construction, or for up to two years afterwards. Fourth, allowing payment from parties who might have guaranteed the bonds or who bought them. Lastly, using any lawful funds by the issuing authority to cover bond payments.

This law section allows an authority to decide on all details regarding the issuing, selling, and terms of bonds. This can be done through a resolution, contract, or agreement, unless there are specific restrictions mentioned elsewhere in the law. It's about having the freedom to handle all aspects of bond management for the benefit of bondholders.

This law outlines the flexibility an authority has when managing bonds. They can decide on various aspects like the total principal amount, the terms of payment, interest rates, and how the bonds are structured, whether they are paid to whoever holds them or to specific individuals, and if they are registered or unregistered. They can also choose whether these bonds include coupons and handle how they will be issued, sold, redeemed, or refinanced.

This law allows the issuing authority to create a contract with bondholders through any resolutions related to bond authorization. This contract cannot be undone or changed, except in specific ways outlined in the resolution itself.

This law states that simply mentioning the adoption date of a resolution, or the execution date of a contract or agreement, on the face of a bond is enough to include all the terms and conditions of that document into the bond itself. Anyone who buys or holds the bond, or the coupons attached to it, is automatically subject to the rules and agreements outlined in the original documents.

This law gives the authority the power to make promises or agreements to ensure that any bonds are more secure.

This section allows an authority to commit to paying the principal and interest on bonds according to the schedule, locations, and methods detailed in the bond agreements.

This law allows the authority to make a promise (or covenant) to run certain facilities and properties efficiently and economically. These facilities generate revenue that is used to pay off specific bonds. The covenant ensures that operations remain cost-effective to meet financial obligations related to these bonds.

This law allows a governing body, referred to as 'the authority,' to commit to maintaining facilities and properties associated with certain revenue-generating bonds. This includes making necessary repairs, renewals, and replacements to keep everything in good condition.

This law allows a government authority to promise to pay for any labor, materials, supplies, or other expenses that might otherwise become a lien (a legal claim on property) on revenues or properties. The authority uses available funds to ensure these claims are paid, protecting the security backing any bonds they have issued for a project.

This law allows a governing body, known as 'the authority', to make agreements that set limitations or restrictions on their ability to mortgage, sell, or otherwise manage facilities or properties. These agreements are especially relevant if the revenues from these properties are linked to the payment of bonds. The goal is to prevent any actions that could negatively affect the operation of the facilities or the rights of bondholders.

This law allows a governing authority to establish rules requiring it to set, enforce, and collect fees, tolls, rents, or other payments for using certain properties or services tied to the repayment of bonds. This is to ensure there is enough money to pay the bonds' principal and interest, as well as operational and maintenance costs of the facilities.

Additionally, the authority can require any lessee or operator of these facilities to set and collect these charges to guarantee they can pay what is owed to the authority.

This section allows the authority to set up special funds or accounts to ensure they can pay off bonds, including the principal, interest, and any premiums when they're due. These funds, which can be held by the city treasury or in banks, are meant to make sure the money from bonds is used for its intended purpose. The funds established are considered trust funds and must only be used for their specific purpose.

This law allows an authority to set up an agreement, called a covenant, to use money raised from bonds for specific goals, like building a certain facility or achieving another defined objective.

This law allows an authority to set a rule that limits taking on more debt if that debt would be paid from the same funds or money sources that are already being used to pay off existing bonds. This means they can protect those funds from being over-committed.

This law allows an authority to agree to carry insurance on facilities or properties that generate revenue for bond payments. The agreement can specify the type and amount of insurance required and outline how the insurance proceeds are used, especially if they're collected later.

This section allows the authority to set the rules for when bonds can be paid off before they are due if a specific default occurs. It also covers how these terms can be waived.

This law allows the authority to define what can happen if it breaks any promises or obligations outlined in its resolutions, contracts, or agreements.

This law allows the authority to set up a process for changing or waiving certain parts of a resolution, contract, or agreement related to bonds, as long as the bondholders approve. They can organize meetings for bondholders to decide on these changes, and the law will explain how these changes affect all bondholders and the bond-related interest coupons.

This law section talks about rules for changes to bond agreements. It says that certain bonds, which could be held by the authority, the city, or other interested parties, might not be counted as outstanding bonds in certain procedures. This means their holders aren't allowed to vote or agree on changes, but they are still affected by those changes.

This law states that the authority can take any actions it considers necessary to ensure that bonds are secure and appealing to potential buyers.

This law allows the authority to appoint a bank or trust company to act as a trustee for people who hold bonds issued under this part. The trustee can manage and enforce the rights and remedies that are available to the bondholders on their behalf.

This law allows the authority to set the rules and conditions for how trustees manage funds that they receive, hold, or distribute under any resolution, contract, or agreement.

This law section allows a governing body, known as the authority, to define the responsibilities and powers of a trustee in relation to managing bonds. This includes handling the payment of bond principal and interest, redeeming bonds, registering and deregistering bonds, and overseeing any related funds set aside as security for the bonds.

This section allows the issuing authority to create bonds in separate series or divisions, each with unique maturity dates, interest rates, and terms. The authority can continue to authorize and issue additional bonds later, but they must follow any restrictions or promises they've previously made regarding issuing new bonds.

This section explains that different bonds within the same approved series don't all have to look the same or have identical features. They can vary in type, level of security, or interest rates. However, each bond's specific terms must be set by the governing authority.

This law says that bonds can be set up so they can be paid off before they are due, based on terms and conditions decided by the authority in charge. If there's an extra cost to call the bonds early, known as a premium, this must also be decided when the bonds are issued. However, these bonds cannot be redeemed early unless it's specifically mentioned on the bond.

This section explains how signatures on bonds and interest coupons can be formatted. It allows for signatures to be printed, lithographed, or engraved facsimiles. However, on the bonds themselves (not the interest coupons), the signature from the clerk or another designated officer must be signed by hand.

This law says that if someone's signature is on a bond or coupon and they leave their job before those documents are delivered, their signature is still valid as if they were still in their position.

This law explains that bonds issued according to these rules can either be serial bonds, which mature at different times, or sinking fund bonds, which have a separate fund for paying off debt. Each bond cannot have a maturity date longer than 40 years from when it's issued. Also, if a bond issue is split into multiple series or divisions, each one's maturity is calculated based on its own issue date, even if different series have different start dates.

This law allows the authority to sell bonds for less than their face value, but the discount can't be more than 8% of the face value of the bonds. The bonds can have an interest rate up to 8%, which is paid twice a year. All sales of these bonds must follow certain government procedures outlined in another law.

This law allows the authority responsible for issuing bonds to include extra money in the bond amount to create a reserve fund. This fund acts as a security measure to protect the bonds.

This law section allows for interest payments on bonds—issued to fund a project like building or finishing something—to be covered by the money made from selling those bonds. This can happen during the construction phase and up to two years after the project is done, or for another limited time.

This law states that when bonds are being issued, the authority can decide that the repayment of both the principal (the original sum borrowed) and the interest (the cost of borrowing) is to be covered by the earnings from the project financed by those bonds or from other specified sources of revenue.

This law allows an authority to issue temporary or interim bonds, certificates, or receipts before the final bonds are ready. These can be swapped for the definitive bonds once they're available.

This law states that any principal, interest, and income from bonds issued under this section are not subject to state taxes, except for gift, inheritance, and estate taxes.

This section allows an authority to issue, sell, or exchange refunding bonds to pay off or replace its existing revenue bonds. The process for issuing these refunding bonds is generally the same as for other types of bonds. Notably, once a revenue bond method of financing is adopted or approved by voters, there's no need for another vote to issue refunding bonds.

This law explains how refunding bonds can be issued to manage existing bonds. The refunding bonds should cover the costs of paying off the old bonds and any related expenses. These costs include: the difference if the refunding bonds sell for less than their face value, interest on the new bonds from the time they are sold until the old bonds are paid off, any premium needed to retire the old bonds, and the interest on the old bonds until they are retired.

Bonds issued under this section can be bought, sold, or traded like cash, making them flexible financial instruments.

This law states that if there is a need to determine whether bonds are valid or not, a legal action can be initiated under specific procedures outlined in another part of the legal code.