Added by Stats. 1951, Ch. 331.
Before ordering the acquisition and cancellation of any bonds, the legislative body shall adopt a resolution declaring its intention to do so.
Article 3 - Resolution of Intention
California Government Code — §§ 59210-59226
Sections (18)
Added by Stats. 1951, Ch. 331.
The resolution shall contain a description of the boundaries of the new district.
Amended by Stats. 1971, Ch. 481.
If the resolution provides that all of the original bonds of only one district are to be acquired and canceled, the exterior boundaries of the new district shall be coterminous with the exterior boundaries of the district as fixed in the original proceedings. The property to be assessed in the new district pursuant to this chapter shall be the property assessed in the original proceedings.
Added by Stats. 1951, Ch. 331.
The original bonds of contiguous or overlapping districts may be acquired and canceled in a single proceeding. All or part of each of such districts shall lie within the local agency whose legislative body proposes to conduct the proceedings.
Amended by Stats. 1971, Ch. 481.
If the resolution of intention provides that all of the original bonds of more than one contiguous or overlapping district are to be acquired and canceled, the exterior boundary of the new district shall encompass all property within the composite area formed by such contiguous or overlapping districts. The property to be assessed in the new district shall be the property assessed in the various original proceedings.
Added by Stats. 1971, Ch. 481.
Less than all of the original bonds of a district or more than one overlapping districts may be acquired and canceled in a single proceeding when all of the original bonds to be acquired and canceled have been issued pursuant to the Improvement Act of 1911. When less than all of the original bonds of a district or districts are to be acquired and canceled the boundaries of the new district shall encompass all properties described in the original bonds to be acquired and canceled.
Added by Stats. 1951, Ch. 331.
No property within the new district shall be charged in the new assessment with any of the debt of a district of which it was not formerly a part.
Added by Stats. 1951, Ch. 331.
In the resolution of intention the new district may be described or reference made to a map, pursuant to the Improvement Act of 1911.
Amended by Stats. 1971, Ch. 481.
The resolution of intention shall:
(a)Refer to the original proceedings with sufficient clarity to identify them.
(b)Indicate the amount of bonds and of each series which were originally issued against each of the districts created under such proceedings.
(c)Indicate the amount of such bonds outstanding against each district when the resolution of intention is adopted.
(d)Refer to the serial numbers of the original bonds and set forth the total amount of such bonds outstanding at the time the resolution of intention is adopted, when less than all of the original bonds of a district are to be acquired and canceled.
Added by Stats. 1951, Ch. 331.
The resolution shall state:
(a)That it is proposed to issue bonds of the new district.
(b)The maximum amount for which and the character of the proposed new bonds.
(c)The maximum term of the bonds.
(d)The maximum rate of interest to be paid on them, not to exceed 7 percent a year.
Added by Stats. 1951, Ch. 331.
The resolution of intention shall state:
(a)The amount of each sum allocated up to the date of the resolution from any source toward the payment and redemption of the original bonds.
(b)That any subsequent allocation, except contributions by way of cancellation of taxes or towards incidental expenses, will be used to reduce the reassessment to be levied.
Added by Stats. 1951, Ch. 331.
The legislative body may recite in the resolution of intention the facts upon which it finds that the public interest, convenience, or necessity require the acquisition and cancellation of the original bonds and the creation of the new district.
Added by Stats. 1951, Ch. 331.
The resolution shall contain a notice of the time and place at which any person objecting to the proposed acquisition and cancellation of the original bonds, to the creation or extent of the new district, or to the issuance of bonds against it, may appear before the legislative body and show cause why the new district should not be created, or new bonds issued to acquire and cancel the original bonds and to pay the cost of the proceedings under the resolution of intention.
Added by Stats. 1951, Ch. 331.
The time shall be not less than 15 nor more than 60 days after the adoption of the resolution.
Added by Stats. 1951, Ch. 331.
The resolution of intention shall be published twice in a newspaper designated in the resolution. The first publication shall be at least 10 days before the date set in the resolution for hearing.
Added by Stats. 1951, Ch. 331.
A notice of the passage of the resolution of intention shall be mailed to each property owner at least 10 days before the date set in the resolution for hearing.
Added by Stats. 1951, Ch. 331.
The notice shall be entitled “Notice to Owners of Proposed Assessment and Bond Refunding.”
Added by Stats. 1951, Ch. 331.
It shall:
(a)Give notice of the passage of the resolution.
(b)Give notice of its date.
(c)Give notice of the time and place of hearing on the resolution.
(d)Briefly describe the substance of the resolution.
(e)Refer to the resolution on file.