NS-2033 - Providing for the City of Santa Ana Special Tax Financing Law Including General Provisions and Definitions ...

Home Browse Search

Property sold hereunder moy not be sold for less than the amount of the judgment plus postjudgment interest and authorized costs without the consent of the owners of 51 percent by principal amount of the outstanding bonds. Section 20-75. Errors. No special tax installment, interest or penalties thereon, or deed shall be held invalid for any error in computation if the error is found to be comparatively negligible, or is found to be in favor of the owner of the real property affected thereby. Section 20-76. Signatures on bonds or coupons; place bonds are payable. The bonds shall be signed by the Mayor and countersigned by the City Clerk. All signatures on the bonds may be printed, lithographed, or engraved. If any officer whose signature appears on the bonds ceases to be that officer before the delivery of the bonds, his or her signature is as effective as if he or she had remained in office. All bonds shall be payable at the office of the City Treasurer or at the office of any agent designated by the City. Section 20-77. Special tax or charge for outstanding bonded debt. When the City Council fixes and levies special taxes and charges for the community facilities district it shall also fL~ and levy that amount of special taxes and charges within the community facilities district wkich is required for the payment of the principal of and interest on any outstanding bonded debt of the community facilities district, including any necessary replenishment or expenditure of bond reserve funds or accumulation of funds for future bond payments. The special tax or charge shall be levied and collected by the same officers and at the same time and in the same manner that all other special taxes and charges are levied and collected for the community facilities district or in any other manner specified by the City Council. The special taxes and charges shall not exceed the authority granted by article II, article IH or article IV hereof. All of the collections for payment of principal and interest on bonds shall be paid into the community facilities district bond or similar fund and reserve or other fund for the particular community facilities district and shall be used solely for the payment of the principal of and interest on the outstanding bonds of the community facilities district. Section 20-78. Action to determine validity of bonds or special tax levy. An action to determine the validity of bonds issued pursuant to this Code or the validity of any special taxes levied pursuant to this Code may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the California Code of Civil Procedure but shall, notwithstanding the time limits specified in Section 860 of the California Code of Civil Procedure. be commenced within 30 days after the voters approve the issuance of the bonds or the special tax if the action is brought by an interested person pursuant to Section 863 of the California Code of Civil Procedures. Any appeal from a judgment in that action or proceeding shall be commenced within 30 days after entry of judgment. -32-