[Ord. #2036, § 1]
The City Council, exercising the powers reserved to the City
under Section 5 of Article XI of the Constitution of the State of
California and pursuant to Sections 400 and 401 of the Charter of
the City of Compton, may, by resolution, issue and sell revenue bonds
for any City purpose or purposes.
[Ord. #2036, § 1]
Except as otherwise expressly provided in the Charter of the
City of Compton, the procedure for the issuance of such bonds shall
be the procedure now set forth in the Revenue Bond Law of 1941 (commencing
with Government Code Section 54300), and by this reference, with the
exception herein after stated, the provisions of such Revenue Bond
Law are incorporated herein, provided, however that no election to
authorize the issuance of such bonds shall be required and to that
end Government Code Sections 54380 through 54387 are not incorporated
herein and shall not be applicable to the issuance of such bonds.
The City Council may, by resolution, supplement the procedures for
the issuance of such bonds now set forth in such Revenue Bonds Law,
or by resolution may follow any procedure which is hereafter amendatory
of such Revenue Bond Law.
