Section
8.03.010 Issuance of bonds
8.03.020 Bonds not debt of city
8.03.030 Bond terms
8.03.040 Bond provisions
8.03.050 Pledge of revenues, money or property lien
8.03.060 No personal liability
8.03.070 Purchase of bonds by city
8.03.080 Actions by bondholders
8.03.090 Refunding bonds
8.03.100 Bond anticipation notes
8.03.110 Validity of bonds
The city is hereby authorized to issue bonds in an aggregate principal amount not to exceed $100,000,000 and to issue such bonds, from time to time, in such series and amounts as are determined by the Council to be necessary or appropriate to provide for the costs of facilities approved by the Council. Bonds shall be negotiable instruments for all purposes, subject only to the provisions of such bonds for registration.
('86 Code, § 8.03.010) (Ord. 3863, passed - - )
(A) All of the bonds hereby authorized to be issued shall be limited obligations of the city payable from all or any specified part of the revenues and the moneys and assets authorized in this title to be pledged or assigned to secure payment of bonds. Such revenues, moneys or assets shall be the sole source of repayment of such issue of bonds. Bonds issued as authorized by this title shall not constitute a debt or liability of the city or a pledge of the faith and credit of the city but shall be payable solely from specified revenues, moneys and assets. The issuance of bonds shall not directly, indirectly, or contingently obligate the city to levy or pledge any form of taxa-tion or to make any appropriation for their payment.
(B) All bonds shall contain on the face thereof a statement to the following effect:
Neither the faith and credit nor the taxing power of the City of Alhambra is pledged to the payment of the principal of or premium, if any, or interest on this bond.
('86 Code, § 8.03.020) (Ord. 3863, passed - - )
Bonds shall be issued as serial bonds, term bonds, installment bonds or pass-through certificates or any combination thereof. The Mayor or City Manager shall determine the terms and timing of the issuance of particular bonds in accord with the resolution of the Council approving the particular facility to be financed thereby. Bonds shall bear such date or dates, mature at such time or times not to exceed 40 years, bear interest at such fixed or variable rate or rates approved by the participating party whose facility is being financed but not to exceed the maximum rate permitted by law, if any, be payable at such time or times, be in such denomina-tions, be in such form, either coupon or registered, carry such registration privileges, be executed in such manner, be payable in lawful money of the United States of America at such place or places, be subject to such terms of redemption and have such other terms and conditions as such resolution, or any indenture to be entered into by the city pursuant to such resolution, shall provide. Bonds shall be sold at either public or private sale and for such prices as the city shall determine.
('86 Code, § 8.03.030) (Ord. 3863, passed - - )
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