CHAPTER 18. California School Finance Authority [17170. - 17199.6.]

Chapter 18 added by Stats. 1996, Ch. 277, Sec. 2.

§§ 17170–17199.6 · 39 sections

§ 17170 This chapter shall be known and may be cited as the California School Finance Authority Act.
§ 17171 The Legislature hereby finds and declares that it is in the interest of the state and its people for the state to do all of the following: (a) Reconstruct,…
§ 17172 There is in the state government the California School Finance Authority. The authority is a public instrumentality, and the exercise by the authority of the…
§ 17173 As used in this chapter, the following words and terms shall have the following meanings, unless the context indicates or requires another or different meaning…
§ 17174 (a) The authority shall be comprised of the following members: (1) The Treasurer, who shall serve as chairperson. (2) The Director of the State Department of…
§ 17175 (a) Upon the first appointment of its members, and thereafter on or after March 31 of each year, the authority shall elect from its members a vice chairperson…
§ 17176 (a) Except as otherwise provided by subdivision (b), the Attorney General shall be the legal counsel for the authority. (b) Upon the approval of the Attorney…
§ 17177 The executive director or other person designated by resolution of the authority shall maintain a record of the proceedings of the authority, and shall be…
§ 17178 Two members of the authority shall constitute a quorum. The affirmative vote of a majority of a quorum shall be necessary for any action taken by the…
§ 17179 The provisions of this chapter shall be administered by the authority, which shall have and is hereby vested with all powers reasonably necessary to carry out…
§ 17180 The authority is hereby authorized to do all of the following: (a) Adopt bylaws for the regulation of its affairs and the conduct of its business. (b) Adopt an…
§ 17180.5 (a) In addition to the powers authorized pursuant to Section 17180, the authority shall perform its duties under the Charter School Facilities Program to…
§ 17181 (a) The California School Finance Authority Fund is hereby created in the State Treasury, to be administered by the authority. Notwithstanding Section 13340 of…
§ 17182 (a) Except as otherwise provided in subdivision (b), all expenses incurred by the authority in implementing this chapter shall be payable solely from funds…
§ 17183 (a) From time to time, the authority, by resolution, may issue its revenue bonds in order to provide funds for any of the purposes of this chapter. Bonds may…
§ 17183.5 In enacting this chapter, it is the intent of the Legislature to provide financing only for projects demonstrated by the participating party to be financially…
§ 17184 (a) In the discretion of the authority, any revenue bonds of the authority issued under this chapter may be secured by a trust agreement, or by indenture by…
§ 17185 (a) Notwithstanding any other provision of law, revenue bonds issued under this chapter are not and shall not be deemed to constitute a debt or liability of…
§ 17186 (a) Any holder of revenue bonds issued under this chapter, or any coupons appertaining thereto, or the trustee or trustees under any trust agreement,…
§ 17187 All moneys received under this chapter, whether received as proceeds from the sale of revenue bonds or as revenues, are trust funds to be held and applied…
§ 17188 (a) The authority may provide for the issuance of the revenue bonds of the authority for the purpose of refunding any bonds, or any series or issue of the…
§ 17189 (a) Revenue bonds issued by the authority under this chapter shall be designated as securities in which all banks, bankers, savings banks, trust companies, and…
§ 17190 (a) Any bonds issued under this chapter, their transfer, and income therefrom shall at all times be free from taxation of every kind by the state and by all…
§ 17191 (a) The State of California pledges and agrees with the holders of the bonds issued pursuant to this chapter, and with those parties who may enter into…
§ 17192 (a) Pledges by or to the authority of revenues, moneys, accounts, accounts receivable, contract rights, or other rights to payment of any other kind made by or…
§ 17193 (a) The authority shall fix, revise, charge, and collect rents for the use of each project owned by the authority, and may contract with any person,…
§ 17194 The authority may authorize any participating party to act as its agent in the performance of acts specifically approved by the authority, and all acts…
§ 17195 Whenever the principal and interest on bonds issued by the authority to finance the cost of a project or working capital, or to refinance the outstanding…
§ 17196 (a) This chapter shall be deemed to provide a complete, additional, and alternative method for accomplishing the acts authorized in this chapter, and shall be…
§ 17197 To the extent that the provisions of this chapter are inconsistent with any other provisions of any general statute, or a special act or parts thereof, the…
§ 17198 Any net earnings of the authority beyond that necessary for the retirement of any obligations issued by the authority, or to implement the purposes of this…
§ 17199 Upon the dissolution of the authority, title to all property owned by the authority shall vest in the successor authority created by the Legislature, if any,…
§ 17199.1 (a) Any participating party, exclusively for the purpose of securing financing or refinancing of projects or working capital pursuant to this chapter through…
§ 17199.15 Notwithstanding any other law, if any bonds that were issued for purposes of borrowing pursuant to paragraph (3) of subdivision (a) of Section 17199.1 to fund…
§ 17199.2 An action may be commenced under Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure to determine the validity of any…
§ 17199.3 (a) The total amount of revenue bonds that may be issued and outstanding at any time for purposes of this chapter shall not exceed four billion four hundred…
§ 17199.4 (a) Notwithstanding any other law, any participating party, in connection with securing financing or refinancing of projects, or working capital pursuant to…
§ 17199.5 Notwithstanding Section 17199.4, if the bonds were subject to a credit enhancement agreement provided by a public credit provider pursuant to Section 17193.5…
§ 17199.6 The authority is delegated exclusive control over the use and allocation of the volume cap described in Section 142(k) of the federal Internal Revenue Code, or…