53398.77. The public financing authority may, by majority vote, issue bonds pursuant to this chapter by adopting a resolution that includes all of the following: (a) A description of the facilities or developments to be financed with the proceeds of the proposed bond issue. (b) The estimated cost of the facilities or developments, the estimated cost of […]
53398.78. (a) If the public financing authority adopts a resolution to issue bonds pursuant to Section 53398.77 for port or harbor infrastructure, it shall, before issuing the bonds, submit the resolution to issue bonds to the affected harbor agency pursuant to Section 1713 of the Harbors and Navigation Code for its preliminary approval. (b) If the harbor […]
53398.83. The public financing authority may, by majority vote, provide for refunding of bonds issued pursuant to this chapter. However, refunding bonds shall not be issued if the total net interest cost to maturity on the refunding bonds plus the principal amount of the refunding bonds exceeds the total net interest cost to maturity on […]
53398.84. The public financing authority or any person executing the bonds shall not be personally liable on the bonds by reason of their issuance. The bonds and other obligations of a district issued pursuant to this chapter are not a debt of the city, county, or state or of any of its political subdivisions, other […]
53398.85. The bonds may be sold at discount not to exceed 5 percent of par at public sale. At least five days prior to the sale, notice shall be published, pursuant to Section 6061, in a newspaper of general circulation and in a financial newspaper published in the City and County of San Francisco and […]
53398.86. If any member of the public financing authority whose signature appears on bonds ceases to be a member of the public financing authority before delivery of the bonds, his or her signature is as effective as if he or she had remained in office. Bonds issued pursuant to this chapter are fully negotiable. (Added […]
53398.87. Upon the approval of its governing board, a city, county, or special district that contains territory within the boundaries of a district, may loan moneys to the district to fund those activities described in the infrastructure financing plan approved and adopted pursuant to Section 53398.69. Moneys loaned pursuant to this provision may be repaid […]
53398.88. (a) Every two years after the issuance of debt pursuant to Section 53398.77, the district shall contract for an independent financial and performance audit. The audit shall be conducted according to guidelines established by the Controller. A copy of the completed audit shall be provided to the Controller, the Director of Finance, and to the […]
