Section 6040 - DefinitionsThe following terms as used in Article 5 of this chapter shall have the meaning defined below and shall prevail over the definitions of the same terms in Section 6000.
(a) "Date of the Bond Issue" means the date of Sale.(b) "Default" means the event defined in Government Code section 53359.5(c)(1).(c) "Draw on Reserve Fund" means the event defined in Government Code section 53359.5(c)(2).(d) "Final Maturity" means the point at which the holders of all bonds constituting an Issue have been fully repaid the Principal amount of the bond(s) plus accrued interest and redemption premium, if applicable.(e) "Mello-Roos Yearly Fiscal Status Report" means the collection of all information that is required to be supplied to the Commission pursuant to Government Code section 53359.5(b).(f) "Mello-Roos Draw on Reserve/Default Report" means the the notification that is required pursuant to Government Code section 53359.5(c).(g) "Outstanding" means all bonds constituting an issue have not reached a condition of Final Maturity.(h) "Reporting Year" means the year beginning July 1 through June 30.(i) "Retired" means that all bonds constituting an Issue have reached the condition of Final Maturity.Cal. Code Regs. Tit. 4, § 6040
1. New article 5 (sections 6040-6043) and section filed 2-28-2017; operative 4-1-2017 (Register 2017, No. 9). Note: Authority cited: Section 8855(e), Government Code. Reference: Section 53359.5, Government Code.
1. New article 5 (sections 6040-6043) and section filed 2-28-2017; operative 4/1/2017 (Register 2017, No. 9).