Section 37640 Of Chapter 3. Bonds And Notes From California Health And Safety Code >> Division 24. >> Part 10. >> Chapter 3.
37640
. (a) A local agency may issue its negotiable bonds or notes
for the purpose of financing historical rehabilitation, including the
rehabilitation of (1) single properties for single participating
parties, (2) a series of properties for a single participating party,
(3) single properties for several participating parties, or (4)
several properties for several participating parties. In anticipation
of the sale of such bonds, the local agency may issue negotiable
bond anticipation notes and may renew such notes from time to time.
Bond anticipation notes may be paid from the proceeds of sale of the
bonds of the local agency in anticipation of which they were issued.
Bond anticipation notes and agreements relating thereto and the
resolution or resolutions authorizing such notes and agreements may
contain any provisions, conditions, or limitations which a bond,
agreement relating thereto, or bond resolution of the local agency
may contain except that any such note or renewal thereof shall mature
at a time not later than two years from the date of the issuance of
the original note.
(b) Every issue of its bonds shall be a special obligation of the
local agency payable from all or any part of the revenues specified
in this part. The bonds shall be negotiable instruments for all
purposes, subject only to the provisions of such bonds for
registration.