47 C. 127, 128 (referred to); 1 C. A. 628, 631, 632, 82 P. 975 (cited-criminal jurisdiction of police court); 3 C. A. 716, 721, 86 P. 996 (provision for police courts). § 4432. CIVIL PRACTICE IN POLICE COURTS. Proceedings in the police courts in civil actions are regulated by part two, title twelve of the Code of Civil Procedure. History: Enacted March 12, 1872. 47 C. 127, 128 (referred to); 134 C. 500, 501, 66 P. 734 (cited); 1 C. A. 628, 631, 82 P. 975 (cited-criminal jurisdiction of police court); 3 C. A. 716, 721, 86 P. 996 (provision for police courts). CHAPTER V. CERTAIN STATUTES RELATING TO CITIES AND TOWNS AND EXISTING CORPORATIONS CONTINUED. § 4442. Certain statutes continued in force. § 4442. CERTAIN STATUTES CONTINUED IN FORCE. Nothing in this code affects any of the provisions of "An act to authorize and direct the municipal authorities of the several cities and incorporated towns of this state to execute certain trusts in relation to the town lands granted to the incorporated cities and towns in this state by the act of congress entitled 'An act for the relief of the inhabitants of cities and towns upon the public lands, approved March second. eighteen hundred and sixty-seven; approved March twentyfour, eighteen hundred and sixty-eight'"; or of "An act to authorize and direct the county judges of the several counties of this state to execute certain trusts in relation to the town lands granted to the unincorporated towns in this state by the act of congress entitled 'An act for the relief of the inhabitants of cities and towns upon the public lands, approved March second, eighteen hundred and sixty-seven; approved March thirtieth, eighteen hundred and sixty-eight""; but such acts are continued in force. History: Enacted March 12, 1872. 110 C. 191, 194, 42 P. 578 (referred to). § 4447. $ 4448. § 4449. Assessment to pay interest on bonds [and principal]; "Bond Fund." Redemption, how made. Failure to levy tax, proceedings to compel. REFUNDING OUTSTANDING § 4445. INDEBTEDNESS. The board of trustees or municipal council of any city having an outstanding indebtedness on the first day of January, eighteen hundred and eighty, evidenced by bonds or warrants thereof, by a vote of two thirds of all the members thereof, are empowered, if they deem it for the public interest, to fund or refund the same, and issue bonds of the city therefor in sums not less than one hundred dollars nor more than one thousand dollars each, having not more than twenty years to run, and bearing a rate of interest not exceeding seven per cent per annum, payable semi-annually, which —, 18—, or at any time before that day, ', or order, at on the first at the pleas Bonds shall be substantially in the following form: No.——. The city of, in the county of in the state of California, for value received, promises to pay the office of the treasurer of said city, in day of ure of the city, the sum of dollars, gold coin of the United States, with interest at the rate of per cent per annum, payable at the office of the said treasurer, semiannually, on the first days of in each year, on presentation and surrender of the interest coupons hereto attached. This bond is issued by the board of trustees (or municipal council, as the case may be), under the provisions of chapter six, of title three, of part four, of the Political Code of California, and in conformity with a resolution of said board of trustees (or municipal council), dated of and day 18. In testimony whereof, the said city, by its board of trustees (or municipal council), has caused this bond to be signed by the president of the board of trustees (or municipal council), and attested by the auditor, with the city seal attached, this day of -, 18. (Seal.) —, president of the board of trustees (or municipal council). Attest: auditor. And the interest coupon shall be in the following form: $ The treasurer of the city of -,county state of California, will pay the holder hereof, on day of —, 18, at his office in of the dollars, gold coin, for interest on city bond No., issued under the provisions of chapter six, of title three, of part four, of the Political Code of California. I city auditor. If the president of the board of trustees (or municipal council), be ex officio auditor, then and in that case said bonds shall be attested by the city clerk instead of the auditor. History: Enacted April 27, 1880, Code Amdts. 1880 (Pol. pt.), p. 105; amended April 4, 1881, Stats. and Amdts. 1881, pp. 35-36. See Kerr's Cyc. Pol. C. for 9 pars. annotation. 112 C. 319, 325, 327, 331, 44 P. 580 (construed and applied). As to authority of cities of first class to refund their indebtedness and to issue bonds therefor, and to provide for payment of same, see Hen. G. L., pp. 918, 919. § 4446. BONDS TO BE DELIVERED TO CITY TREASURER. Whenever bonds issued under this chapter shall be duly executed, numbered consecutively and sealed, they shall be delivered to the city treasurer, and his receipt taken therefor, and he shall stand charged on his official bond with all all bonds delivered to him and the proceeds thereof, and he shall sell the same or exchange them under the directions of the board of trustees, or municipal council, on the best available terms, for any legal indebtedness of the city outstanding on the first day of January, eighteen hundred and eighty; but in neither case for a less sum than the face value of the bonds, and all interest accrued on them at the date of such sale or exchange; and if any portion of the said bonds are sold for money, the proceeds thereof shall be applied exclusively for the payments of liabilities existing against the city at and before the date above named. [Exchange-Cancelation of old bonds.] When they are exchanged for bonds or warrants, or other legal evidences of city indebtedness, the treasurer shall at once proceed to cancel the old bonds and such other evidences of indebtedness by indorsing on the face thereof the amount for which they were received, the word "canceled," and the date of cancelation. He shall also keep a record of bonds sold or exchanged by him, by number, date of sale, amount, date of maturity, the name and post-office address of the purchaser, and, if exchanged, what evidences of indebtedness were received therefor, which record shall be open at all times for inspection by the public. Whenever the holder of any bond shall sell or transfer it, the purchaser shall notify the treasurer of such purchase, giving at the same time the number of the bond transferred, and his post-office address, and every transfer shall be noted on the record. [Treasurer to report statement of bonds sold, etc.] The treasurer shall also report, under oath, to the board, at each regular session, a statement of all bonds sold or exchanged by him since the preceding report, and the date of such sale or exchange, and when exchanged, a list or description of the city indebtedness exchanged therefor, and the amount of accrued interest received by him on such sale or exchange, which latter sum shall be charged to him as money received by him on bond fund, and so entered by him on his books; but such bonds shall not be sold or exchanged for any indebtedness of the city, except by the approval of the board of trustees or municipal council of said city. No sale shall be made of any such bonds, except to the highest bidder, after advertising bids for the purchase of the same for not less than three weeks, in at least one newspaper published in the county, the right being reserved in such advertisement to reject any or all such bids. History: Enacted April 27, 1880, Cbde Amdts. 1880 (Pol. pt.), pp. 106-107. 112 C. 319, 325, 44 P. 580 (cited). § 4447. ASSESSMENT TO PAY INTEREST ON BONDS [AND PRINCIPAL]; “BOND FUND." The board of trustees, or municipal council, shall cause to be assessed and levied each year, upon the taxable property of the city, in addition to the levy authorized for other purposes, a sufficient sum to pay the interest on outstanding bonds issued in conformity with the provisions of this chapter, accruing before the next annual levy, and such proportion of the principal that at the end of five years the sum raised from such levies shall equal at least twenty per cent of the amount of bonds issued: at the end of eight years at least forty per cent of the amount, and at and before the date of maturity of the bonds shall be equal to the whole amount of the principal and interest; and the money arising from such levies shall be known as the "bond fund," and shall be used for the payment of bonds and interest coupons, and for no other purpose whatever; and the treasurer shall open and keep in his books a separate and special account thereof, which shall at all times show the exact condition of said bond fund. History: p. 107. Enacted April 27, 1880, Code Amdts. 1880 (Pol. pt.), 112 C. 319, 325, 44 P. 580 (cited). § 4448. REDEMPTION, HOW MADE. Whenever the amount in the hands of the treasurer belonging to the bond fund, after setting aside the sum required to pay the interest maturing before the next levy, is sufficient to redeem one or more bonds, he shall notify the owner of such bond or bonds, by advertising in any newspaper published in the county, not less than once a week, for three successive weeks, and in some newspaper of general circulation published in the city of San Francisco, not less than once a week, for three successive weeks, that he is, prepared to pay the same, with all interest accrued thereon; and if not presented for payment or redemption within forty days after the first publication of such notice, the interest on such bonds shall cease and the amount due thereon shall be set aside for its payment when |