CHAPTER 2. California Educational Facilities Authority Act [94100. - 94213.]
Chapter 2 enacted by Stats. 1976, Ch. 1010.
§§ 94100–94213 · 50 sections
ARTICLE 1. Purpose §§ 94100–94103 · 5 sections
- § 94100 It is the purpose of this chapter to accomplish all of the following: (a) To give this and future generations of youth the fullest opportunity to learn and…
- § 94101 This chapter shall be known and may be cited as the California Educational Facilities Authority Act.
- § 94102 All assets and obligations of the California Student Loan Authority, as of the effective date of the act that enacts this section during the 1995–96 Regular…
- § 94102.1 In addition to the definition provided in Section 94110, “student loan” may also mean loan assumptions pursuant to Article 5 (commencing with Section 69612) of…
- § 94103 (a) Notwithstanding any other provision of law, no city, county, city and county, district, or other local jurisdiction shall operate, or request or authorize…
ARTICLE 2. Definitions § 94110 · 1 section
- § 94110 As used in this chapter, the following words and terms have the following meanings, unless the context indicates or requires another or different meaning or…
ARTICLE 3. Organization of Authority and General Powers and Duties Thereof §§ 94120–94125 · 5 sections
- § 94120 (a) There is in the state government an authority known as the California Educational Facilities Authority. The authority constitutes a public instrumentality…
- § 94121 The powers of the authority shall be vested in the members thereof in office from time to time and a majority of the total authorized membership of the…
- § 94123 Notwithstanding any other provision of law neither of the following is a conflict of interest: (a) Service by a trustee, director, officer, or employee of a…
- § 94124 The authority shall maintain an office in the City of Sacramento.
- § 94125 The authority may employ an executive director and such other persons as are necessary to enable it properly to perform the duties imposed upon it by this…
ARTICLE 4. Powers and Duties; Notes and Bonds §§ 94140–94156 · 17 sections
- § 94140 The authority shall have power to do all of the following: (a) Adopt bylaws for the regulation of its affairs and the conduct of its business. (b) Adopt and…
- § 94141 All expenses incurred in carrying out the provisions of this chapter shall be payable from funds provided the authority therefor, and no liability or…
- § 94142 The authority shall establish financial eligibility standards by studying the creditworthiness and earning capacity of each project together with the amount of…
- § 94143 The authority is authorized from time to time to issue its notes for any corporate purpose and renew from time to time any notes by the issuance of new notes,…
- § 94144 (a) The authority is authorized from time to time to issue its bonds for any corporate purpose. In anticipation of the sale of the bonds, the authority may…
- § 94145 In the discretion of the authority, any bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the authority and…
- § 94145.5 A provision that the authority may include in a trust agreement or resolution providing for the issuance of bonds pursuant to this chapter may also be included…
- § 94146 (a) Bonds issued under this chapter shall not be deemed to constitute a debt or liability of the state or of any political subdivision of the state, or a…
- § 94147 (a) The authority may fix, revise, charge, and collect rates, rents, fees, and charges for the use of and for the services furnished or to be furnished by each…
- § 94148 Any holder of bonds issued under the provisions of this chapter or any of the coupons appertaining thereto, and the trustee or trustees under any trust…
- § 94149 All moneys received pursuant to the authority of this chapter, whether as proceeds from selling or incurring bonds, or as revenue, shall be deemed to be trust…
- § 94150 (a) The authority may issue bonds of the authority for the purpose of refunding any bonds or notes of the authority then outstanding, including the payment of…
- § 94151 (a) The authority may loan funds to a participating institution or university applicant and to provide for the issuance of bonds for the purpose of refinancing…
- § 94152 Bonds and notes issued by the authority under the provisions of this chapter are hereby made securities in which all banks, bankers, savings banks, trust…
- § 94154 The State of California pledges and agrees with the holders of the bonds, notes, and other obligations issued pursuant to authority contained in this chapter,…
- § 94155 On or before March 31 in each year the authority shall make an annual report of its activities for the preceding calendar year to the Governor and the…
- § 94156 The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of this state, for the increase of their commerce,…
ARTICLE 4.1. California Student Loan Refinancing Program §§ 94157–94165 · 9 sections
- § 94157 As used in this article, unless the context requires otherwise, the following terms have the following meanings: (a) “Executive director” means the Executive…
- § 94158 (a) The California Student Loan Refinancing Program is hereby established under the administration of the authority. The goal of the program is to help college…
- § 94159 (a) The authority shall establish a loss reserve account for each financial institution with which the authority enters into a contract. (b) The loss reserve…
- § 94160 (a) If a financial institution seeks to enroll a qualified loan in the program in order to obtain the protection against loss provided by its loss reserve…
- § 94161 (a) The authority shall establish procedures under which financial institutions may submit claims for reimbursement for losses incurred as a result of…
- § 94162 Notwithstanding Section 10231.5 of the Government Code, the authority shall annually submit a report to the Governor and the Legislature that describes the…
- § 94163 The authority may enter into agreements with financial institutions, or with other agencies of the state, to provide necessary assistance in carrying out the…
- § 94164 Notwithstanding the other provisions of this article, the authority may facilitate the development of a secondary market for a qualified loan under the program…
- § 94165 The authority may adopt emergency regulations for the implementation of the program. Any emergency regulations that may be adopted by the authority under this…
ARTICLE 5. Conflicts of Interest § 94170 · 1 section
- § 94170 Except as otherwise expressly provided in this chapter, any member, officer, agent or employee of the authority who is interested, either directly or…
ARTICLE 6. Examination and Visitorial Power of State; Assistance of State Employees §§ 94180–94181 · 2 sections
- § 94180 The State Controller and his legally authorized representatives are hereby authorized and empowered from time to time to examine the accounts and books of the…
- § 94181 The authority shall be entitled to call to its assistance and avail itself of the services of such employees of any state department or agency as it may…
ARTICLE 7. Construction of Facilities §§ 94190–94195 · 6 sections
- § 94190 (a) In addition to the foregoing powers, the authority shall have power to accomplish both of the following: (1) Upon application of the participating college,…
- § 94191 The authority also shall have power: (a) To make loans to any participating private college, participating nonprofit entity, or university applicant for the…
- § 94192 For the purpose of obtaining and securing loans under Section 94191, every participating private college, participating nonprofit entity, or university…
- § 94193 Moneys of the authority received from any participating private college, participating nonprofit entity, or university applicant in payment of any sum due to…
- § 94194 (a) Whenever the authority under Section 94190 undertakes to construct, acquire, or otherwise provide a project and to lease the same to a private college or…
- § 94195 Any pledge of moneys, earnings, income, or revenues authorized with respect to participating private colleges, participating nonprofit entities, or university…
ARTICLE 8. Construction §§ 94210–94213 · 4 sections
- § 94210 This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes hereof.
- § 94211 Nothing contained in this chapter shall be deemed or construed to create or constitute a debt, liability, or a loan or pledge of the credit of the state.
- § 94212 (a) This chapter shall be deemed to provide a complete, additional, and alternative method for doing the things authorized by this chapter, and shall be…
- § 94213 The powers granted to the authority by this chapter may be exercised without regard or reference to any department or agency of the state. All other general or…