Improvement Bonds
Cal. SHC § 10602.5
California Statutes
When the resolution of intention provides that bonds shall be issued under the Improvement Act of or the Improvement Bond Act of 1915, and when the assessment has been duly confirmed pursuant to
Section 10312, and when the assessment contains an assessment on public property which is subject to assessment pursuant to
Section including, notwithstanding any other provisions of law, public property owned by the city, county or other entity conducting the proceeding, the legislative body may sell such assessment in the same manner and at the same time as provided in
Section 10602. The proceeds of the sale shall be deposited in the fund specified in
Section 10424. The buyer of such an assessment shall, upon paying the purchase price, become the owner of the assessment and shall be entitled to exercise all the rights that an owner of an assessment has under
Section 5302.5. If bonds or certificates are to be issued to represent any assessment or assessments against public property, the legislative body of the entity conducting the proceedings may sell such bonds or certificates in the same manner and at the same time as provided in
Section 10602. The proceeds of the sale shall be deposited in the fund specified in
Section 10424. The buyer of such bonds and of each individual bond shall become an owner of the assessment and shall be entitled to exercise all of the rights of an owner of an assessment under
Section 5302.5 and of a bondholder as provided in
Section 5302.6 and
Chapter 4.5 (commencing with
Section 6468) of Part of Division 7. The buyer of each certificate shall become the owner of the assessment and shall be entitled to exercise all of the rights of an owner of an assessment under