ARTICLE 18. Bond Plans [59640. - 59654.]

Cal. Government Code - GOV 18.
in effect

Cal. Government Code - GOV § 59640. Section 59640.

Serial bonds shall be issued to represent the unpaid reassessments, including unpaid reassessments on tax-deeded land, pursuant to Bond Plan A, B, or C. The legislative body shall determine which bond plan shall be used.

Cal. Government Code - GOV § 59641. Section 59641.

Under Bond Plan A, a bond shall be issued to represent each of the assessments remaining unpaid and shall be entitled “Refunding Bond. Bond Plan A.” Such bonds shall be substantially in the form of the street improvement bonds provided for in the Improvement Act of 1911.

Cal. Government Code - GOV § 59643. Section 59643.

Bond Plan B bonds shall be: (a) Issued in the manner and form provided in the Improvement Bond Act of 1915. (b) Entitled “Refunding Bond. Bond Plan B.” (c) Substantially in the form of the street improvement bonds provided in such act.

Cal. Government Code - GOV § 59644. Section 59644.

Bond Plan C bonds shall be: (a) Issued in the manner and form provided in the Refunding Assessment Bond Act of 1935. (b) Entitled “Refunding Bond. Bond Plan C.” (c) Substantially in the form of the refunding bonds provided in such act.

Cal. Government Code - GOV § 59645. Section 59645.

Any appropriate changes may be made in the wording of the bonds necessary to make them conform to this chapter and the proceedings taken pursuant to this chapter.

Cal. Government Code - GOV § 59648. Section 59648.

Bond Plan A bonds shall have annual coupons attached to them payable in annual order on January 2d of each year after the October 15th following the date of the bonds, until all are paid. Each coupon shall be for an equal annual proportion of the principal of the bonds to which it is attached.

Cal. Government Code - GOV § 59649. Section 59649.

Bond Plan A bonds shall also have semiannual interest coupons attached to them and payable as in the case of bonds issued pursuant to the Improvement Act of 1911.

Cal. Government Code - GOV § 59650. Section 59650.

The bonds issued under Bond Plans A, B, or C may be redeemed or canceled, have the effect, shall be enforced, paid, and subject to the penalties, and, so far as possible, shall be issued and conform to the requirements, of bonds issued under the Improvement Act of 1911, the Improvement Bond Act of 1915, and the Refunding Assessment Bond Act of 1935, respectively. The provisions of such acts apply to such bonds.

Cal. Government Code - GOV § 59651. Section 59651.

Bond Plan A bonds may be issued for a period of not to exceed 29 years from the January 2d succeeding the October 15th following their date.

Cal. Government Code - GOV § 59653. Section 59653.

The determination of the legislative body as to the form and contents of the bonds issued under any of the plans is conclusive, except that the bonds shall state that they are issued pursuant to Bond Plan A, B, or C, as the case may be, of this chapter.

Cal. Government Code - GOV § 59654. Section 59654.

If Bond Plan B or C is used the reassessment and curative clauses and all other bond and assessment provisions of the Improvement Bond Act of 1915 or the Refunding Assessment Bond Act of 1935, respectively, apply.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026

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