Section 54773.

54773. This chapter shall be known and may be cited as the Teeter Plan Bond Law of 1994. (Added by Stats. 1994, Ch. 293, Sec. 2. Effective July 21, 1994.)

Section 54773.1.

54773.1. The Legislature finds and declares all of the following: (a) There is a need within the state to finance the alternative method of distribution of tax levies and collections of tax sale proceeds authorized pursuant to Sections 4701 to 4717, inclusive, of the Revenue and Taxation Code. (b) That it is the intent of the Legislature […]

Section 54774.

54774. The definitions in this section shall govern the construction and interpretation of this chapter: (a) “Bond purchase agreement” means a contractual agreement executed between the county and one or more investment bankers that underwrite the bonds. (b) “Bonds” means evidences of indebtedness, including, but not limited to, bonds, notes, commercial paper, floating rate and variable maturity […]

Section 54775.

54775. This chapter does not limit any other law and shall be deemed to provide a complete and supplemental method for exercising the powers authorized by this chapter, and shall be deemed as being supplemental to the powers conferred by other applicable laws. The issuance of bonds, financing, or refinancing under this chapter need not […]

Section 54776.

54776. The county may, from time to time, issue its bonds in an aggregate principal amount the county determines necessary to provide sufficient funds for purposes of advancing moneys representing uncollected taxes in accordance with Section 4705 of the Revenue and Taxation Code, provided that the aggregate amount of all the bonds issued in any […]

Section 54777.

54777. (a) The bonds may be issued as serial bonds or as term bonds, in one or more series. The bonds shall be authorized by resolution of the county approved by a majority vote of its board of supervisors, and shall, as provided by the resolution or by the terms of an indenture pursuant to which […]

Section 54778.

54778. Any resolution authorizing any bond or any issue of bonds may contain the following provisions, which shall be a part of the contract with the holders of the bonds to be authorized. (a) Provisions pledging the tax revenues and any other legally available funds of the county to secure the payment of the bonds. (b) Provisions […]

Section 54779.

54779. The county may, out of any funds available therefor, purchase its bonds. The county may hold, pledge, cancel, or resell the bonds, subject to, and in accordance with, agreements with bondholders. (Added by Stats. 1994, Ch. 293, Sec. 2. Effective July 21, 1994.)

Section 54780.

54780. Any bonds issued under this chapter may be secured by an indenture between the county and a corporate trustee or trustees, which may include any trust company or bank having the power of a trust company within or without the State of California. (a) The indenture or the resolution providing for the issuance of the […]

Section 54781.

54781. (a) The county may issue bonds for the purpose of refunding any bonds then outstanding, including the payment of any redemption premium thereon and any interest accrued, or to accrue, on their earliest or any subsequent date of redemption, purchase or maturity of these bonds. The limitations of Section 54776, as to the aggregate principal […]

Section 54782.

54782. Bonds issued by the county are legal investments for all trust funds, the funds of all insurance companies, banks, both commercial and savings, trust companies, executors, administrators, trustees and other fiduciaries, for state school funds and for any funds which may be invested in county, municipal or school district bonds. The bonds are securities […]

Section 54783.

54783. Interest earned on any bond issued by the county shall at all times be free from state personal income tax and corporate income or franchise tax. (Amended by Stats. 1995, Ch. 91, Sec. 54. Effective January 1, 1996.)