determine, but for not less than their par value, and the proceeds of such bonds shall be placed in the municipal treasury to the credit of the proper improvement fund, and shall be applied exclusively to the purposes and objects mentioned in the ordinance. § 62. Cancellation of unsold bonds. At any time after three years after the date of any election, heretofore or hereafter held, at which an issue of any of the bonds herein provided has or shall have been authorized, the legislative body of the municipality may, by ordinance duly adopted by a two-thirds vote of all of the members of such legislative body, determine that no part of such bond issue, or, if a portion of the bonds so authorized at such election shall have been sold, that no part of the remainder of such issue then remaining unsold, shall be thereafter issued or sold, and upon the taking effect of such ordinance the authority to issue the bonds authorized at such election and described in such ordinance shall cease, and the whole or that portion of the bonds issued pursuant thereto remaining unsold and described in such ordinance shall become void. [New section added April 6, 1917. Stats. 1917, p. 79.] § 7. Tax levy to pay bonds. Sinking fund. The legislative branch of said city, town or municipality shall at the time of fixing the general tax levy, and in the manner for such general tax levy provided, levy and collect annually each year until said bonds are paid, or until there shall be a sum, in the treasury of said city, town or municipality set apart for that purpose to meet all sums coming due for principal and interest on such bonds, a tax sufficient to pay the annual interest on such bonds, and also such part of the principal thereof as shall become due before the time for fixing the next general tax levy. Provided, however, that if the maturity of the indebtedness created by the issue of bonds be made to begin more than one year after the date of the issuance of such bonds, such tax shall be levied and collected at the time and in the manner aforesaid annually each year, suflicient to pay the interest on such indebtedness as it falls due, and also to constitute a sinking fund for the payment of the principal thereof on or before maturity. The taxes herein required to be levied and collected shall be in addition to all other taxes levied for municipal purposes, and shall be collected at the time and in the same manner as other municipal taxes are collected, and be used for no other purpose than the payment of said bonds and accruing interest. [Amendment approved March 19, 1907. Stats. 1907, p. 611.] § 8. Duty of governing authority. Municipalities under charter. It shall be the duty of the legislative branch of every city, town or municipal corporation, wherein public improvements are being made under the provisions of this act, to make all needful rules and regulations for carrying out and maintaining such improvements, to appoint all needful agents, superintendents and engineers to properly look after the construction and operation of such public works, and in all lawful ways to protect and preserve the rights and interests of the municipality; provided, however, that in cities, towns, or municipalities operating under a charter heretofore or hereafter framed under section 8 of article XI of the constitution, and having a board of public works, all the matters and things required in this section to be done and performed by the legis lative branch of the municipality shall be done and performed by the board of public works of such city, town or municipality. § 9. Contracts. Work done jointly with United States. All contracts by a municipality for the construction or completion of any public work or improvement or for furnishing labor or materials therefor as herein provided shall be let and entered into as other contracts are let and entered into, by such municipality; provided, that any municipality of this state may, without awarding a contract for the construction or completion of any public work or improvement, or for furnishing labor or material therefor as herein provided, do any of said work directly, and shall have the power when such municipality elects so to do, to do said work directly, to purchase the materials, hire the labor and do all other things necessary for the doing of said work; and provided, further, that when any of said public work is to be done and performed by any municipality jointly with the government of the United States, the portion of the cost thereof to be borne by such municipality may be turned over to the government of the United States to be expended by it in the performance of said public work, [Amendment approved May 31, 1921; Stats. 1921, p. 893.] This section was also amended in 1907. See Stats. 1907, p. 611. § 92. Expenditure of money raised by sale of bonds. Consent to use for other than original purpose, how given. Whenever the legislative branch of any municipality shall by resolution deem the expenditure of money raised by the sale of bonds under the terms of this act for the purpose for which said bonds were voted impracticable or unwise, said legislative branch of said city, town, or municipal corporation may call a special election to obtain the consent of the people of said city, town, or municipal corporation to use said money for some other specified municipal purpose. The ordinance calling such special election shall recite the new object or purpose for which the said money is proposed to be expended, and shall fix the date on which such special election will be held, the manner of holding such election and the voting for or against the expenditure of said money for said purpose, and in all particulars not recited in said ordinance such election shall be held as provided by law for holding of such municipal elections in such municipality. Such ordinance shall be published once a day for at least seven days in some newspaper published at least six days a week in such municipality, or once a week for two weeks in some newspaper published less than six days a week in such municipality, and one insertion each week for two succeeding weeks shall be a sufficient publication in such newspaper published less than six days per week. In municipalities where no such newspaper is published, such ordinance shall be posted in three public places therein for two succeeding weeks. No other notice of such election need be given. It shall require the votes of two-thirds of all the voters at such special election to authorize the expenditure of the money for the purpose mentioned in the ordinance calling said special election. [New section approved March 19, 1907. Stats. 1907, p. 634.] § 10. Treasurer's bond. Whenever the legislative branch of any municipality shall by resolution deem it necessary, they may require the treasurer of such municipality to give additional bonds for the safe custody and care of the public funds. 1968 § 11 flictv § 12 peal, state ments § 121 which any ci of this this ac purpose or wha fully as expressl or which corporat issued pu same are said inde thorized p. 570.] §1234. proposi tic pursuant may be which the ration ar any such is consolid forth the suant to th the ordina cincts, poll precincts, p set forth in with which consolidated ing by num added June 1915, p. 98, § 13. Act §14. Bond mission, whic ments in one been subseque of the city v mit a bond is bonds for all t one gross amo All acts and parts of acts in con § 11. Repeal of conflicting acts. flict with this act are hereby repealed. § 12. What acts not repealed. This act shall not be deemed to repeal, conflict with or modify any provision of any statute of this state concerning the levy of special taxes for specific public improvements when bond issues are not contemplated. § 122. Proceedings prior to this act declared valid. All proceedings which may have been prior to the passage of this act, taken by any city, town or municipal corporation, incorporated under the laws of this state, in the manner prescribed by the said act of which this act is amendatory, for the incurring of indebtedness for the purpose of acquiring, constructing, completing or repairing any wharf or wharves, shall be and the same are hereby declared to be valid as fully as though the incurring of indebtedness for such purpose had been expressly authorized by said act, and any and all indebtedness incurred, or which may hereafter be incurred, by any such city, town or municipal corporation, or any bonds which may have been or may hereafter be issued pursuant to any such proceedings so taken or had shall be and the same are hereby declared to be valid, as fully as though the creation of said indebtedness or the issuance of said bonds had been expressly authorized by said act. [New section added March 18, 1907. Stats. 1907, p. 570.] § 1234. Consolidation of elections. Any election submitting the proposition of incurring indebtedness and the issuance of bonds called pursuant to the provisions of this act, may be held separately, or may be consolidated with any other election authorized by law at which the qualified voters of such city, town or municipal corporation are entitled to vote; provided, however, that in the event any such election called pursuant to the provisions of this act is consolidated with any other election, the provisions of this act setting forth the procedure for the calling and holding of the election called pursuant to the provisions of this act, shall be complied with, except, that the ordinance calling such election need not set forth the election precincts, polling places and officers of election, but may provide that the precincts, polling places and officers of election shall be the same as those set forth in the ordinance, notice or other proceedings calling the election with which the election called pursuant to the provisions of this act, is consolidated, and shall refer to such ordinance, notice or other proceeding by number and title, or by other definite description. [New section added June 11, 1915. Stats. 1915, p. 1454, and April 16, 1915. Stats. 1915, p. 98, both sections being identical.] § 13. Act takes effect when. This act shall take effect immediately. § 14. Bonds for city plan. In any city having a city planning commission, which commission has approved a number of municipal improvements in one group as constituting a city plan, and which city plan has been subsequently approved by a majority vote of the qualified electors of the city voting thereon, the legislative body of such city may submit a bond issue as authorized by this act, said bond issue to include bonds for all the improvements of said city plan in one bond issue for one gross amount. The approval of such city plan by the electors of the city may be given at the election at which said bond issue is submitted or may have been given at a previous election. Included in the improvements covered by such city plan and bond issue therefor may be land for public use, public buildings including auditoriums and stadiums, parks, streets, transportation facilities, or any of the improvements for which bonds are authorized to be voted by section two of this act, or elsewhere therein. [Amendment approved May 24, 1921; Stats. 1921, p. 641.] The amendatory act of March 19, 1907. Stats. 1907, p. 609, contained the following section: "§ 5. That nothing in this act contained shall be construed as affecting the issue or sale of bonds in pursuance of proceedings begun prior to the taking effect of this act and under the provisions of the act amended hereby." ACT 5179. An act authorizing any municipality to incur indebtedness by the issuance and sale of bonds for the purpose of investing the proceeds arising from the sale thereof in other bonds, evidences of debt or liens issued for public improvements in said municipality. [Approved April 22, 1915. Stats. 1915, p. 109.] Municipal investment bonds. Bonds may be resold. How bonds may be issued. § 1. § 2. § 3. Municipal investment bond fund. § 1. Municipal investment bonds. Bonds may be resold. Any municipality incorporated under the laws of the state of California may incur a bonded indebtedness by the issuance and sale of bonds to be known as "municipal investment bonds," the proceeds from the sale of which shall be used for the purchase of municipal securities or evidences of debt, either of the municipality or of boroughs or districts therein; including municipal bonds, borough bonds, district bonds, or any bonds or liens arising out of the construction or acquiring of public improvements by local assessment within such municipality. Bonds, securities or other evidences of debt so purchased may at any time be resold at a price not less than that at which they were originally purchased by the city. The proceeds from the sale of investment bonds may also be used for the temporary financing of public improvements which shall have been legally authorized to be paid for by special assessments. Money expended from a municipal investment bond fund shall, as soon as practicable, be returned to said fund from the receipts derived from the securities in which it was invested, or from the proceeds of the special assessments levied and collected to meet the cost of such improvements in accordance with the legal procedure that may be prescribed therefor. § 2. How bonds may be issued. Bonds issued under the provisions of this act shall be issued in the manner provided for in an act entitled "An act authorizing the incurring of indebtedness by cities, towns and municipal corporations for municipal improvements, and regulating the acquisition, construction and completion thereof," in effect February twenty-fifth, nineteen hundred and one, and amendments thereto; provided, however, that the ordinance calling the election therein provided for, need not contain any statement as to the prop bond herei § 3 the act this fund to in of bo dences impro thereo said m legisla or held liens s nicipal amount liens so into sa vested § 4. repeal ACT 51 An act the men [Approv See §1. Bon §1. B any porti for the p of such di the acquis or public a part is ceedings 1 they have tofore had ratified, co the power o to issue su bonds alread legal and 1 such bonds faith and cr ment and re vided, that t proposed public improvement, or the estimated cost thereof. Such bonds when issued shall be redeemed and paid as provided in the hereinabove mentioned act. §3. Municipal bond investment bond fund. It shall be the duty of the legislative branch of every municipality availing itself of this act to keep the funds arising from the sale of bonds issued under this act separate and distinct from all other municipal funds, in a fund to be known as the "municipal investment bond fund," and to invest and reinvest the same in bonds of said municipality, or of boroughs or districts therein, or in bonds, or liens or other evidences of debt arising out of the construction or acquisition of public improvements therein by local assessments, and to collect the principal thereof and the interest thereon and place the same in said fund; and said municipality shall have the right to sell, at the discretion of its legislative branch, any such bonds, evidences of debt or liens acquired or held by it; provided, that none of such bonds, evidences of debt or liens shall be sold at a price less than the cost or expense to such municipality of such bonds, evidences of debt or liens respectively. The amount received from the sale of such bonds, evidences of debt or liens so sold, together with the accrued interest thereon, shall be paid into said "municipal investment bond fund," and may be again reinvested as aforesaid. § 4. Prior acts not affected. The provisions of this act shall not repeal or modify the provisions of any other act. ACT 5180. An act to validate bonds issued and sold, or to be issued and sold for the purpose of the acquisition or construction of any public improvement work or public utility in any portion of a municipality. [Approved May 4, 1917. Stats. 1917, p. 229. In effect July 27, 1917.] See following acts. § 1. Bonds issued by portion of municipality validated. § 1. Bonds issued by portion of municipality validated. Where, in any portion of a municipality of this state proceedings have been taken for the purpose of creating an indebtedness, to be represented by bonds of such district, the proceeds from the sale of which are to be used for the acquisition or construction therein of any public improvement work or public utility which the municipality of which such district forms a part is authorized by law to acquire or construct, all acts and proceedings leading up to and including the issuance of such bonds, if they have heretofore been sold, and all such acts and proceedings heretofore had, although the bonds are not yet sold, are hereby legalized, ratified, confirmed and declared valid to all intents and purposes, and the power of said district and of the legislative body of such municipality to issue such bonds is hereby ratified, confirmed and declared, and the bonds already are declared to be and the bonds hereafter sold shall be, the legal and binding obligation of and against such district for which such bonds have heretofore, or may hereafter be, issued, and the full faith and credit of such district is hereby pledged for the prompt payment and redemption of the principal and interest of said bonds; provided, that this act shall not operate to legalize any bonds of any dis |