Section 50666.6.

50666.6. The general fund of a local agency is not liable for the payment of the bonds or their interest. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50666.7.

50666.7. The general credit or taxing power of the local agency, other than the revenues pledged, is not liable for the payment of the bonds or their interest. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50666.8.

50666.8. The holder of the bonds shall not compel the exercise of the taxing power by the local agency, other than the revenues pledged, or the forfeiture of its property. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50666.9.

50666.9. The principal of, and interest on, the bonds and any premiums upon the redemption of any thereof are not a debt of the local agency, nor a legal or equitable pledge, charge, lien, or encumbrance, upon any of its property, or upon any of its income, receipts, or revenues except the revenues that have […]

Section 50667.

50667. Every bond shall recite in substance that the principal of, and interest on, the bond are payable solely from the revenues pledged to the payment of the principal and interest and that the local agency is not obligated to pay the principal or interest except from the pledged revenues. (Added by Stats. 1985, Ch. […]

Section 50667.1.

50667.1. The bonds and, any interest on, or income from, the bonds are exempt from taxation in this state, except from bank and corporation franchise, gift, inheritance, and estate taxes. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50667.2.

50667.2. In the resolution authorizing the bonds, the legislative body may insert any of the provisions authorized by this article, which shall become a part of the contract with the bondholders. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50667.3.

50667.3. The legislative body may provide limitations on: (a) The purpose to which the proceeds of sale of any issue of bonds may be applied. (b) The issuance of additional bonds for the same purpose and on the lien of additional bonds. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50667.4.

50667.4. The legislative body may provide for events of default and terms upon which the bonds may be declared due before maturity and the terms upon which the declaration and its consequences may be waived. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50667.5.

50667.5. The legislative body may provide for the rights, liabilities, powers, and duties arising upon the local agency’s breach of any covenants, conditions, or obligations. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50667.6.

50667.6. The legislative body may provide for the vesting in a trustee of the right to enforce covenants to secure payment of, or in relation to, the bonds and the trustee’s powers and duties, and the limitation of his or her liabilities. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50667.7.

50667.7. The legislative body may provide for the terms upon which the bondholders or any percentage of the bondholders may enforce covenants or duties imposed by this article. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50667.8.

50667.8. The legislative body may provide in the resolution authorizing issuance of the bonds for a procedure for amending or abrogating the terms of the resolution with the consent of the holders of a specified number of the bonds. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50667.9.

50667.9. Any resolution containing a procedure specified in Section 50667.8 may also provide for meetings of bondholders or for their written assent without a meeting and the manner of consenting, with or without a meeting. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50668.

50668. The resolution shall specifically state the effect of amendment upon the rights of the holders of all of the bonds and shall be binding upon the holders of all of the bonds issued pursuant to the resolution. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50668.1.

50668.1. The legislative body may provide for any other acts and things necessary, convenient, or desirable to secure the bonds or tending to make them more marketable. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50668.2.

50668.2. The local agency shall pay or cause to be paid the principal and interest of the bonds on the date, at the place, and in the manner mentioned in the bonds and in accordance with the resolution authorizing their issuance. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50668.3.

50668.3. A separate, distinct, and special fund shall be created at or before the issuance of the bonds, which shall be maintained continuously during the time that any of the bonds or the interest thereon are outstanding and unpaid. (Added by Stats. 1985, Ch. 320, Sec. 2.)

Section 50668.4.

50668.4. All pledged revenue shall be deposited in the special fund and payments shall be made therefrom in the order specified in subdivisions (a) to (c), inclusive, of Section 50665.7. (Amended by Stats. 1985, Ch. 1199, Sec. 1.)

Section 50668.5.

50668.5. The local agency shall preserve and protect the security of the bonds and the rights of the bondholders and shall warrant and defend the rights of the bondholders against all claims and demands of all persons. (Added by Stats. 1985, Ch. 320, Sec. 2.)