California Law (Last Updated: March 4, 2014) |
Government Code - GOV |
Title 4. GOVERNMENT OF CITIES |
Division 4. FINANCIAL PROVISIONS |
Chapter 4. Bonds |
ARTICLE 6. Compromise |
Section 43850.
Latest version.
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Whenever a city has an outstanding indebtedness evidenced by bonds the legislative body may submit to the electors of the city, at any election held for that purpose, a proposition:
(a) Declaring all or any of the bonds to be at once due and payable.
(b) Compromising the bonded indebtedness.
(c) Consenting to a judgment in favor of the bondholders.
(d) Providing for the payment of such judgment in installments.
(Added by Stats. 1949, Ch. 79.)