Article 1. General of California Public Utilities Code >> Division 9. >> Part 2. >> Chapter 5. >> Article 1.

As used in this chapter, "board of supervisors" means the board of supervisors of the principal county.

District bonds may be issued and sold pursuant to this chapter for all of the following purposes:
  (a) Raising money for purchasing real property for airport and spaceport purposes.
  (b) Building and purchasing buildings or structures including hangars, or making alterations, additions, or repairs to the buildings or structures.
  (c) Restoring or rebuilding buildings or structures damaged or destroyed by fire or other public calamity.
  (d) Supplying buildings, structures, and hangars with furnishings and necessary apparatus.
  (e) Improving the grounds of airports and spaceports.
  (f) Acquiring and maintaining lighting equipment and all other equipment, devices, and facilities necessary or convenient for the airports and spaceports.
  (g) Liquidating any indebtedness incurred for these purposes or refunding any valid outstanding indebtedness of the district evidenced by bonds or warrant.
  (h) Paying all costs and expenses incident to the bond election, including engineering, architectural, legal charges, fiscal agent's charges and interest during construction and for a period of not to exceed 12 months after the date of completion of construction.

If the board deems it advisable it may call an election and submit to the electors of the district the question whether district bonds shall be issued and sold. The board shall call a bond election upon the filing with the board of a petition signed by 10 percent of the registered voters of the district.

The board shall call and conduct the bond election in the manner prescribed by this chapter.

The order calling the bond election shall be signed by a majority of the directors.

In the order calling the bond election, the board may submit to the electors as one proposal the question of issuing bonds for all or any of the purposes described in this article, or it may submit as separate questions the issuance of bonds for any of these purposes, singly or in such combinations as it directs in the order.

When bonds issued pursuant to this part have been investigated and certified by any authorized officer of the state and are declared to be legal investments for savings banks, they may be purchased or received in pledge for loans by savings banks, building and loan companies, trust companies, insurance companies, guardians, conservators, executors, administrators, and special administrators, or by any public officer of the state or of any county or other municipal or corporate body in the state having or holding funds which they may legally invest or loan.

If any officer whose signature, countersignature, or attestation appears on the bonds or coupons ceases to be such officer before the delivery of the bonds to the purchaser, the signature, countersignature, or attestation is valid and sufficient for all purposes as if he had remained in office until the delivery of the bonds. The signature on the coupons of the person who is auditor at the date of the bonds is valid although the bonds may be attested by a different person who is auditor at the time of their delivery.