13.16.160 Bond plan H - Annual benefit assessment bonds.

   (a)   Powers. There is vested in the council the power to issue annual benefit assessment bonds upon any district created in this title to finance any public improvement authorized by Section 13.04.010.

   (b)   Procedure. All of the provisions of Section 13.16.150 shall apply, except those that refer or relate to vehicle off-street parking facilities. All references to such facilities shall be deemed to refer to the public improvement being financed under this section.

(Ord. 2798 § 7, 1974)

13.16.170 Summary refunding.

   If the council makes the following findings and determinations, any outstanding bonds may be refunded or advance refunded by resolution, fiscal agent agreement, or indenture adopted or approved without notice and hearing or further process:

   (a)   That the total aggregate amount of the principal of and interest on the refunding bonds is less than the total aggregate amount of the principal of and interest on the bonds to be refunded;

   (b)   That each annual installment of principal of and interest on the refunding bonds is less than the corresponding installment on the bond to be refunded; and

   (c)   That the term of the refunding bonds is equal to or less than the remaining term of the bonds to be refunded.

(Ord. 3887 § 1, 1989)

13.16.180 Refunding proceedings without findings.

   If the council is unable to make the findings required by Section 13.16.170, it may proceed with refunding proceedings as appropriate under the applicable bond plan.

(Ord. 3887 § 2, 1989)