Code Section Group

Public Utilities Code - PUC

DIVISION 6. MUNICIPAL UTILITY DISTRICT ACT [11501 - 14403.5]

  ( Division 6 enacted by Stats. 1951, Ch. 764. )

CHAPTER 7. Bonds [13201 - 13341]

  ( Chapter 7 enacted by Stats. 1951, Ch. 764. )

ARTICLE 3. Issue and Sale [13261 - 13263]
  ( Article 3 enacted by Stats. 1951, Ch. 764. )

13261.
  

The bonds may be issued and sold for not less than their par value, but otherwise as the board determines.

(Enacted by Stats. 1951, Ch. 764.)

13262.
  

The proceeds of the bonds shall be placed in the district treasury to the credit of the proper fund, and shall be used exclusively for the objects or purposes for which the bonds were voted.

(Enacted by Stats. 1951, Ch. 764.)

13263.
  

In lieu of the immediate levy of a tax to pay the interest or any part thereof on any bonded indebtedness incurred in accordance with this division, the board may in the estimate of the amount of money necessary to be raised by the bonds include a sum sufficient to pay interest on all of the bonds or part thereof during the period of acquisition, construction, or completion, but for no period in excess of five years.

(Enacted by Stats. 1951, Ch. 764.)

PUCPublic Utilities Code - PUC3.