California Streets and Highways Code 33101 – Bonds shall not be issued in any city until the legislative body, …
Bonds shall not be issued in any city until the legislative body, either at a general or a special election, submits to the electors of the city the question whether the city or the authority, or both, shall be authorized to adopt the revenue bond method of financing projects provided for in this part. If a majority of the voters voting upon the proposition favor the proposition, the authority, or the city, or both, as specified in the proposition, may from time to time issue bonds in accordance with this part. In any city in which the voters have previously authorized the issuance of general obligation bonds or revenue bonds for parking facilities an authority or the city, pursuant to Section 33552, may issue bonds without submitting such proposition to the voters.
(Amended by Stats. 1951, Ch. 1388.)
Terms Used In California Streets and Highways Code 33101
- bonds: means revenue bonds issued pursuant to this part. See California Streets and Highways Code 33100
- City: includes "city and county" and "incorporated town. See California Streets and Highways Code 15
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.