2007 California Government Code Article 4. Payment Of Unauthorized Indebtedness

CA Codes (gov:30000-30004)

30000.  If it appears to the satisfaction of the board of
supervisors that the county is justly indebted to any person for
money received into the treasury of the county and used by the
county, for an indebtedness which at the time of its creation was not
authorized by law, it shall by ordinance declare that the county is
justly indebted to the person named in the ordinance in a sum stated
therein, and that the question of issuing bonds in the sum stated,
for the purpose of paying the debt shall be submitted to a vote of
the voters of the county.


30001.  The board shall publish a notice calling an election,
submitting to the voters of the county the question whether the bonds
shall be issued.  The notice shall state the amount of bonds and the
purpose for which they are to be issued.  The notice shall be
published and the election held pursuant to Article 1.



30002.  If two-thirds of all the voters voting at the election vote
in favor of issuing the bonds, the board shall issue bonds in the sum
stated in the notice of election, and payable to the creditors named
in the ordinance.


30003.  The bonds shall bear interest at the rate of 5 percent a
year and be payable at the time as the board orders, not exceeding 20
years from date of issuance.  The bonds shall be signed by the chair
of the board of supervisors and the clerk of the board of
supervisors.



30004.  Each year the board shall levy a tax sufficient to pay the
annual interest on the bonds and the principal as it becomes due.