Article 2. Revenue Bonds of California Public Utilities Code >> Division 10. >> Part 3. >> Chapter 7. >> Article 2.
Whenever the board deems it necessary for the district to
incur a revenue bonded indebtedness for the acquisition,
construction, development, joint development, operation, maintenance,
completion, or repair of any or all improvements, works, property,
or facilities authorized by this part or necessary or convenient for
the carrying out of the powers of the district, or for any other
purpose authorized by this part, including, without limitation, the
refunding referred to in Chapter 8 (commencing with Section 31000),
the board shall provide for the issuance of the revenue bonds in
accordance with the Revenue Bond Law of 1941 (Chapter 6 (commencing
with Section 54300) of Part 1 of Division 2 of Title 5 of the
Government Code), as it now exists or may hereafter be amended;
except that, (a) if the board provides for the issuance of the
revenue bonds by ordinance adopted by a vote of two-thirds of all the
members of the board, which ordinance shall be subject to
referendum, and (b) no election is required by Section 30932, no
election need be called or held for the purpose of authorizing the
issuance of the revenue bonds.
Revenue bonds may include one or more purposes; and the purposes
for which revenue bonds may be issued may include, without
limitation, all costs and estimated costs incidental to, or connected
with, the accomplishment of that purpose, or purposes, including,
without limitation, engineering, inspection, legal, fiscal agents,
financial consultant, and other fees, bond and other reserve funds,
working capital, bond interest estimated to accrue during the
construction period and for a period not to exceed three years
thereafter, and expenses of all proceedings for the authorization,
issuance, and sale of the bonds.
The district is hereby declared to be a local agency within
the meaning of the Revenue Bond Law of 1941. The term "enterprise" as
used in the Revenue Bond Law of 1941 shall for all purposes of this
part include any or all improvements, works, property or facilities,
authorized by this part or necessary or convenient for the carrying
out of the powers of the district.
Revenue bonds issued under the provisions of this Article 2
shall be subject to the priorities set forth in Section 30638.
Revenue bonds shall have a priority as to the use of revenues
superior to that of any bonds for improvement districts issued under
Article 5 of this chapter. Revenue bonds having a priority as to the
use of revenues superior to that of any bonds issued under Article 1
of this chapter may be issued if the proposition for the issuance of
such revenue bonds with such priority shall have been submitted by
the board by the same vote required under Article 1 and approved by
the electors by the same vote required under Article 1.