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Anaheim Municipal Code
PREFACE
CHARTER OF THE CITY OF ANAHEIM
Title 1 ADMINISTRATION
Title 2 TAXES
Title 3 BUSINESS LICENSES*
Title 4 BUSINESS REGULATION
Title 5 BICYCLES
Title 6 PUBLIC HEALTH AND SAFETY
Title 7 MORALS AND CONDUCT
Title 8 ANIMALS
Title 9 RADIO AND ELECTRONICS
Title 10 PUBLIC SERVICE AND UTILITIES
Title 11 PUBLIC PROPERTY
Title 12 STREETS AND SIDEWALKS
Title 13 PARKS AND BOULEVARDS
Title 14 TRAFFIC
Title 15 BUILDINGS AND HOUSING
Title 16 FIRE
Title 17 LAND DEVELOPMENT AND RESOURCES
Title 18 ZONING
STATUTORY REFERENCES FOR CALIFORNIA CITIES
TABLES
Chapter 1.23 GENERAL OBLIGATION BONDS
Sections:
   1.23.010   Definitions.
   1.23.020   Authority to incur indebtedness.
   1.23.030   Debt limit—Indebtedness defined.
   1.23.040   Measure of indebtedness incurred.
   1.23.050   Election as condition precedent.
   1.23.060   Change of purpose—Special election­Procedure.
   1.23.070   Issuance of bonds.
   1.23.080   Proceeds­Premiums and accrued interest—Price—Use of surplus.
   1.23.090   Delivery—Receipt of price.
   1.23.100   Personal liability.
   1.23.110   Security for bonds issued pursuant to this chapter.
   1.23.120   Tax levy—Duration—Amount­Principal and interest.
   1.23.130   Liberal construction.
   1.23.140   Supplemental and additional powers.
   1.23.150   Effect of this chapter.
1.23.010 DEFINITIONS.
   .010   City. As used in this chapter, "City" means the City of Anaheim, California, a municipal corporation and charter city organized and operating pursuant to the laws of the State of California and its Charter.
   .020   Charter. As used in this chapter, "Charter" means the Charter of the City of Anaheim, adopted by the electors of the City at the Special Municipal Election held on June 2, 1964, approved by the California State Legislature January 14, 1965, as amended.
   .030   Bonds. As used in this chapter, "bonds" means the aggregate principal amount of all bonds authorized by a proposal approved by the City electors pursuant to the Charter.
   .040   Municipal Improvement. As used in this chapter, "municipal improvement" includes buildings, building improvements, electrical, water, sewer, road and other public improvements, lands, and any other real property for the benefit of residents of the City and surrounding areas necessary or convenient to carry out the objects, purposes and powers of the City. (Ord. 4741 § 1 (part); July 29, 1986.)
1.23.020 AUTHORITY TO INCUR INDEBTEDNESS.
   Pursuant to this chapter, the City may incur indebtedness for any municipal improvement requiring an expenditure greater than the amount allowed for it by the annual tax levy. (Ord. 4741 § 1 (part); July 29, 1986.)
1.23.030 DEBT LIMIT — INDEBTEDNESS DEFINED.
   Pursuant to the Charter, the City shall not incur an indebtedness evidenced by general obligation bonds which shall in the aggregate exceed fifteen percent of the total assessed valuation, for purposes of City taxation, of all the real and personal property within the City. Within the meaning of this section, "indebtedness" means bonded indebtedness of the City payable from the proceeds of taxes levied upon taxable property in the City. (Ord. 4741 § 1 (part); July 29, 1986.)
1.23.040 MEASURE OF INDEBTEDNESS INCURRED.
   An indebtedness is incurred within the meaning of this chapter to the extent of the principal amount of bonds sold and delivered. (Ord. 4741 § 1 (part); July 29, 1986.)
1.23.050 ELECTION AS CONDITION PRECEDENT.
   No bonded indebtedness which shall constitute a general obligation of the City may be created unless authorized by the affirmative votes of two-thirds of the electors voting on such proposition at any election at which the question is submitted to the electors and unless in full compliance with the provisions of the Constitution of the State of California and of the Charter. Such election and two-thirds approval shall be a condition precedent to the authorization of bonds pursuant to this chapter. (Ord. 4741 § 1 (part); July 29, 1986.)
1.23.060 CHANGE OF PURPOSE — SPECIAL ELECTION — PROCEDURE.
   When the City Council determines by resolution that the expenditure of money raised by the sale of bonds for the purpose for which the bonds were voted is impracticable or unwise, it may call a special election to obtain the consent of the electors to use the money for some other specified municipal purpose.
   The procedure shall be the same as when the bond proposition was originally submitted. (Ord. 4741 § 1 (part); July 29, 1986.)
1.23.070 ISSUANCE OF BONDS.
   Bonds may be issued as serial bonds or as term bonds or the City Council, in its discretion, may issue bonds of both types. The bonds shall be issued pursuant to resolution of the City Council and shall bear such date or dates, mature at such time or times, be divided into two or more series (which bonds of one series may be made payable at different times from those of any other series), bear interest at such fixed or variable rate or rates, be payable at such time or times, be in such denominations, be in such form, 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 contain such other terms and conditions, as the resolution or resolutions of the City Council may provide. The bonds may be sold at either public or private sale and for such prices as the City Council shall determine. Pending preparation of definitive bonds, the City may issue interim receipts, certificates or temporary bonds which shall be exchanged for such definitive bonds.
   In the discretion of the City Council, any bonds issued under the provisions of this chapter may be secured by a trust agreement or indenture by and between the City and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company within or without the State of California. Such trust agreement or indenture, unless otherwise provided in the resolution providing for the issuance of bonds, may contain such provisions for protecting and enforcing the rights and remedies of the bondholders and of the trustee or trustees and may restrict the individual right of action by bondholders. In addition to the forgoing, any such trust agreement or indenture, unless otherwise provided in the resolution providing for the issuance of bonds, may contain such other provisions as the City Council may deem reasonable and proper for the security on the bondholders. (Ord. 4741 § 1 (part); July 29, 1986.)
1.23.080 PROCEEDS — PREMIUMS AND ACCRUED INTEREST — PRICE — USE OF SURPLUS.
   All premiums and accrued interest received on sale shall be placed in the fund to be used for the payment of principal of and interest on the bonds, and the remainder of the proceeds of the bonds shall be placed in the treasury to the credit of the proper improvement fund and applied exclusively to the purpose and object recited in the resolution of issuance; provided, however, that when said purpose and object has been accomplished any moneys remaining in such improvement fund shall be transferred to the general fund. (Ord. 4741 § 1 (part); July 29, 1986.)
1.23.090 DELIVERY — RECEIPT OF PRICE.
   The City Council may provide for delivery of any bonds at places inside or outside the City or the State of California, and for receipt and transmittal of the purchase price in such manner as it deems appropriate. (Ord. 4741 § 1 (part); July 29, 1986.)
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