54400. The legislative body may determine and provide in the resolution for: (a) The number of series in which the bonds are to be issued. (b) The date the bonds are to bear. (c) The maturity dates of the bonds, not exceeding forty years from their respective dates. (Added by Stats. 1949, Ch. 81.)
54401. If the legislative body divides any issue of bonds into series, it may prescribe, and state in the resolution, different dates for the bonds of each series. The maximum maturity date of each series shall be calculated from the date on the face of each bond separately. (Added by Stats. 1949, Ch. 81.)
54402. The legislative body may determine and provide in the resolution for: (a) The issuance of any bonds or a series in the form of serial bonds or sinking fund bonds with serial or term maturities. (b) The interest of the bonds either fixed or variable, the rate or rates, payable at the times and in the […]
54403. Any premium payable on the bonds shall be in the amount or amounts specified by the legislative body. (Repealed and added by Stats. 1990, Ch. 1130, Sec. 6.)
54404. The bonds are not subject to call or redemption prior to their fixed maturity date unless the right to exercise a call is expressly stated on the face of the bonds. (Added by Stats. 1949, Ch. 81.)
54405. The resolution may provide the terms and conditions upon which the bonds may be declared or become due and payable upon specified defaults. (Added by Stats. 1949, Ch. 81.)
54406. The resolution may provide for the replacement of mutilated, destroyed, stolen, or lost bonds. (Added by Stats. 1949, Ch. 81.)
54407. By resolution, the legislative body may provide the manner for authenticating the bonds and other terms to be contained in the bonds. (Added by Stats. 1949, Ch. 81.)
54408. Pending the preparation of the definitive bonds, interim receipts or temporary bonds, exchangeable for definitive bonds may be issued in the form and with the provisions the legislative body determines. (Added by Stats. 1949, Ch. 81.)
54409. In the absence of an express recital on its face that the bond or interim receipt is nonnegotiable, the bond or interim receipt is a negotiable instrument. (Added by Stats. 1949, Ch. 81.)
54410. In determining the amount of bonds to be issued, the legislative body may include: (a) All costs and estimated costs incidental to or connected with the acquisition, construction, improving or financing of the enterprise. (b) All engineering, inspection, legal and fiscal agent’s fees, costs of the bond election and of the issuance of said revenue bonds, […]
54411. Bonds bearing the signature of officers of the local agency in office on the date of the signing are valid, notwithstanding that before delivery the persons signing have ceased to be officers. (Added by Stats. 1949, Ch. 81.)
54412. The validity of the authorization and issuance of the bonds is not affected by proceedings for the acquisition, construction, or improving of the enterprise or by contracts in connection therewith. (Added by Stats. 1949, Ch. 81.)
54413. Any resolution authorizing bonds may provide that the bonds may recite that it is issued pursuant to this chapter and bonds containing such recital are conclusively deemed valid and issued in conformity with this chapter. (Added by Stats. 1949, Ch. 81.)
54414. Reference on the face of the bonds to the resolution by its date of adoption incorporates the provisions of the resolution and of this chapter into the bonds and their coupons. (Amended by Stats. 1953, Ch. 369.)
54415. Each taker and subsequent holder of the bonds and attached or detached coupons has recourse to all of the provisions of the resolution and of this chapter and is bound by their terms. (Added by Stats. 1949, Ch. 81.)
54416. The legislative body may issue and sell the bonds in the manner it determines. (Added by Stats. 1949, Ch. 81.)
54417. The legislative body may sell the bonds in installments at different times or as an entire series of bonds at one time. (Added by Stats. 1949, Ch. 81.)
54418. The legislative body may sell the bonds at a price above or below par in a manner, at public or private sale, as it determines by resolution. If the legislative body decides to sell the bonds at private sale rather than public sale, the local agency shall send a written statement to the California […]
54419. The sale price of all bonds sold shall include the interest accrued to the date of delivery of and payment for the bonds. (Added by Stats. 1949, Ch. 81.)
