4.08.030 Issuance of improvement bonds.
The council of the city may issue improvement bonds to represent unpaid special assessments levied pursuant to the Municipal Improvement Act of 1913 (commencing with Section 10000 of the California Streets and Highways Code) or the Landscaping and Lighting Act of 1972 (commencing with Section 22500 of the California Streets and Highways Code).
The procedure for the issuance of improvement bonds shall be the Improvement Bond Act of 1915 (commencing with Section 8500 of the California Streets and Highways Code), as now or hereafter amended, with the following exceptions:
A. Notwithstanding the limitations of Section 8651.5 of the California Streets and Highways Code, the council of the city may establish a redemption premium for the retirement of bonds in advance of their normal maturity in any amount or percentage, or in no amount. The premium may be different for different bond maturities or for different dates of advance bond retirement, or both.
(Ord. 1843 NCS §1 (part), 1991.)