Section 43774.
43774. The purchase price of any bonds sold and the accrued interest on them shall be placed in the general improvement fund and may be reinvested in bonds, or, if such reinvestment is not permitted, shall be used to pay principal and interest of the bonds issued pursuant to this article. (Added by Stats. 1949, […]
Section 43775.
43775. During the time the city owns any district bonds payable from taxes or assessments levied wholly or partially in accordance with the assessed value of the land within the district, the legislative body may omit any sum for the payment of principal and interest past due and unpaid because of delinquencies from the amount […]
Section 43776.
43776. When bonds are acquired at less than their par value, the legislative body may reduce the total principal amount of any issue acquired and held by it to a total principal amount to be fixed by ordinance. The reduced total principal amount of the issue shall not be less at par than the total […]
Section 43777.
43777. The ordinance is subject to referendum as other ordinances and shall designate: (a) The issue of bonds to be reduced. (b) The total principal amount of the issue acquired. (c) The purchase price paid for the bonds. (d) The principal amount of the proposed reduction. (e) The numbers, denominations, and maturity dates of the bonds to be canceled. (f) […]
Section 43778.
43778. At the time and place fixed, the bonds shall be publicly canceled, and the city clerk shall enter on the minutes of the legislative body a record of the bonds canceled sufficient to identify them and the fact and date of their cancellation. (Added by Stats. 1949, Ch. 79.)
Section 43779.
43779. If the bonds canceled are issued under the Improvement Bond Act of 1915, the legislative body shall reduce the principal amount of the assessments securing the bonds to the total principal amount of the unpaid and uncanceled bonds of the same issue. (Added by Stats. 1949, Ch. 79.)
Section 43780.
43780. The reduction of assessments shall be carried out by canceling such proportion of the assessments as is necessary, and the legislative body may provide procedure for such cancellation. The uncanceled portion of the assessments is valid and shall be collected pursuant to the statutes under which the original assessments were levied and bonds issued. […]
Section 43781.
43781. When the legislative body of any city has acquired any district bonds pursuant to this article, it may, as an alternative to the procedure prescribed in Sections 43775 to 43780, inclusive, cancel all or any of such district bonds, if in its opinion the public interest and welfare will be better served by such […]
Section 43766.
43766. The interest rate on the bonds need not be the same during the entire term and different rates may be fixed for one or more interest payments. (Added by Stats. 1949, Ch. 79.)
Section 43782.
43782. Before ordering the cancellation, by ordinance the legislative body shall: (a) Determine that the public interest and welfare will be best served by the cancellation of all or part of the principal and interest of the bonds. (b) Designate the issue of bonds to be canceled or the principal amount, numbers, and denominations of the bonds […]