Assembly Bill 2224 - Sonoma Marin Area Rail Transit - Home Page

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AB <strong>2224</strong> — 32 —12345678910111213141516171819202122232425262728293031323334353637383940issued in any amount in excess of the aggregate amount of bondswhich the district has been authorized to issue, less the amount ofany bonds of that authorized issue previously sold, and also less theamount of other bond anticipation notes therefor issued and thenoutstanding. The notes shall be issued and sold in the same manneras the bonds. The notes and the resolution or resolutionsauthorizing them may contain any provisions, conditions, orlimitations that a resolution of the district authorizing the issuanceof bonds may contain.Article 6.Miscellaneous105260. The district may bring an action to determine thevalidity of any of its bonds, equipment trust certificates, warrants,notes, or other evidences of indebtedness pursuant to Chapter 9(commencing with Section 860) of Title 10 of Part 2 of the Codeof Civil Procedure.105261. All bonds and other evidences of indebtedness issuedby the district under the provisions of this part, and the interestthereon, are free and exempt from all taxation within the state,except for transfer, franchise, inheritance, and estate taxes.105262. Notwithstanding any other provisions of this part orany other law, the provisions of all ordinances, resolutions, andother proceedings in the issuance by the district of any bonds,bonds with a pledge of revenues, bonds for improvement districts,revenue bonds, equipment trust certificates, notes, or any and allevidences of indebtedness or liability shall constitute a contractbetween the district and the holders of the bonds, equipment trustcertificates, notes, or evidences of indebtedness or liability and theprovisions thereof shall be enforceable against the district, or anyor all of its successors or assigns, by mandamus or any otherappropriate suit, action, or proceeding in law or in equity in anycourt of competent jurisdiction. Nothing contained in this part orin any other law shall be held to relieve the district or the territoryincluded within it from any bonded or other debt or liabilitycontracted by the district. Upon dissolution of the district or uponwithdrawal of territory therefrom, the property formerly includedwithin the district or withdrawn therefrom shall continue to beliable for the payment of all bonded and other indebtedness orliabilities outstanding at the time of the dissolution or withdrawal93
12345678910111213141516171819202122232425262728293031323334353637383940— 33 —AB <strong>2224</strong>the same as if the district had not been so dissolved or the territorywithdrawn therefrom, and it shall be the duty of the successors orassigns to provide for the payment of the bonded and otherindebtedness and liabilities. Except as may be otherwise providedin the proceedings for the authorization, issuance, and sale of anyrevenue bonds, bonds secured by a pledge of revenues or bonds forimprovement districts secured by a pledge of revenues, revenuesof any kind or nature derived from any revenue-producingimprovements, works, facilities, or property owned, operated orcontrolled by the district shall be pledged, charged, assigned, andhave a lien thereon for the payment of the bonds as long as they areoutstanding, regardless of any change in ownership, operation, orcontrol of those revenue-producing improvements, works,facilities, or property and it shall, in such later event or events, bethe duty of the successors or assigns to continue to maintain andoperate the revenue-producing improvements, works, facilities, orproperty as long as bonds are outstanding.CHAPTER 7.ANNEXATION105280. Territory may be annexed to the district in the mannerprovided in this chapter.105281. A county contiguous to the district may, by majorityvote of the board of supervisors of that county, petition the districtto annex all or part of the territory within the county. Alternatively,the board of the district may propose annexation of any territorycontiguous to the district.105282. If annexation is proposed pursuant to Section105281, the board shall determine whether the additional territoryproposed to be annexed will be benefited by annexation to thedistrict, and shall pass a resolution to that effect. The resolutionshall be passed by a vote of two-thirds of the members of the boardand be approved by the board of supervisors of the county in whichthe territory is situated.105283. The board of supervisors of the county in which theterritory to be annexed is situated shall agree in writing with theboard of directors of the district upon the terms and conditions ofannexation. The agreement may provide for the levy andcollection of special taxes within the county in addition to the taxeselsewhere provided for in this part, the fixing of rates, rentals, and93
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Assembly Bill 2224 - Sonoma Marin Area Rail Transit - Home Page

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