ARTICLE 2. The State University Revenue Bond Act of 1947

Heading of Article 2 amended by Stats. 1985, Ch. 106, Sec. 26.

§§ 90010–90083 · 74 sections

§ 90010 This article may be cited as “The State University Revenue Bond Act of 1947.”
§ 90011 (a) The following terms wherever used or referred to in this article, or in any indenture entered into pursuant to this article, shall have the following…
§ 90012 The board, for the purposes of this article, has power and is hereby authorized, in addition to and amplification of all other powers conferred upon the board…
§ 90013 (a) The board may issue revenue bond anticipation notes, in anticipation of the sale of revenue bonds. Before issuing any of these notes, the board shall, by…
§ 90014 Notes authorized to be issued under this article shall be sold by the Treasurer, for cash, in the manner that the Treasurer shall be directed by a resolution…
§ 90015 The validity of the authorization and issuance of any revenue bonds or revenue bond anticipation notes by the board is not dependent on nor affected in any way…
§ 90016 The board shall issue revenue bonds and revenue bond anticipation notes in its name and as its obligation, but no bond or note issued or sold pursuant to this…
§ 90017 The board shall determine the time, form, and manner of the issuance of revenue bonds and revenue bond anticipation notes.
§ 90018 The board may enter into indentures providing for the aggregate principal amount, date or dates, maturities, interest rates, denominations, form, registration,…
§ 90019 An indenture pursuant to which bonds are issued may include any and all of the covenants and agreements on the part of the board as the board deems necessary…
§ 90020 An indenture may provide that payments of principal and interest of bonds shall be secured by all or by part of revenues.
§ 90021 An indenture may include a clause relating to the bonds issued thereunder requiring the board to pay or cause to be paid punctually the principal of all such…
§ 90022 An indenture may include a clause relating to the bonds issued thereunder, requiring the board to operate the project continuously, to the extent practicable…
§ 90023 An indenture may include a clause relating to the bonds issued thereunder requiring the board to make all necessary repairs, renewals and replacements to any…
§ 90024 An indenture may include a clause relating to the bonds issued thereunder requiring the board to preserve and protect the security of the bonds and the rights…
§ 90025 An indenture may include a clause relating to the bonds issued thereunder requiring the board to pay and discharge or cause to be paid and discharged all…
§ 90026 An indenture may include a clause relating to the bonds issued thereunder which limits, restricts, or prohibits any right, power or privilege of the board to…
§ 90027 An indenture may include a clause relating to the bonds issued thereunder requiring the board to fix, prescribe, and collect rates, rentals, or other charges…
§ 90028 An indenture may include a clause relating to the bonds issued thereunder requiring the board to hold or cause to be held in trust the revenues or any part of…
§ 90029 An indenture may include a clause defining the power of the board in applying the proceeds of the sale of any issue of bonds for the acquiring, constructing,…
§ 90030 An indenture may include a clause limiting the power of the board to issue additional bonds for the purpose of acquiring, constructing or completing any…
§ 90031 An indenture may include a clause requiring, specifying or limiting the kind, amount and character of insurance to be maintained by the board on any project,…
§ 90032 An indenture may include a clause providing the events of default and the terms and conditions upon which any or all of the bonds of the board then or…
§ 90033 An indenture may include a clause designating the rights, limitations, powers and duties arising upon breach by the board of any of the covenants, conditions,…
§ 90034 An indenture may include a clause prescribing a procedure by which the terms and conditions of the indenture may be subsequently amended or modified with the…
§ 90035 An indenture may include a clause or clauses providing for such other acts and matters as may be necessary or convenient or desirable in order better to secure…
§ 90036 The State Treasurer shall act as trustee for the board and the holders of bonds issued hereunder, and the board may authorize the trustee to act on behalf of…
§ 90037 The board shall prescribe the duties and powers of the trustee with respect to the issuance, authentication, sale and delivery of the bonds and the payment of…
§ 90038 The board may provide for one or several issues of bonds and may issue bonds in series or may divide any issue into one or more divisions and fix different…
§ 90039 Bonds may be issued as coupon bonds or as registered bonds. The board may provide for the interchange of coupon bonds for registered bonds and registered bonds…
§ 90040 Bonds shall bear interest at a fixed or variable rate of not to exceed 12 percent per annum, payable in the time, form, and manner set forth in the indenture…
§ 90041 Notwithstanding the provisions of Sections 90013, 90040, and 90048, the rate of interest which bonds or notes may bear and the yield resulting to the purchaser…
§ 90042 Bonds may be callable upon any terms, conditions, and upon any notice as the board may determine, and upon the payment of the premium as may be fixed by the…
§ 90043 The board may provide for the payment of the principal and interest of bonds at any place within or without the State of California, and in specified coin or…
§ 90044 The board may provide for the execution and authentication of bonds and notes by the manual, lithographed or printed facsimile signature of officers of the…
§ 90045 Bonds shall bear dates prescribed by the board. Bonds may be serial bonds or sinking fund bonds with those maturities as the board may determine. No bond by…
§ 90046 Immediately after the adoption of a resolution by the board directing the preparation of any bonds or notes authorized under this article, the Treasurer shall…
§ 90047 When the bonds authorized to be issued under this article are duly executed, they shall be sold by the Treasurer, for cash, in those parcels and numbers as the…
§ 90048 Bonds and notes may be sold at either public or private sale. The board may fix terms and conditions for the sale or other disposition of any authorized issue…
§ 90049 The board may provide for the security of bonds. The board may use and expend all or any part of any funds or proceeds of any property owned by it, whether…
§ 90050 All costs and expenses incident to the issuance and sale of notes may be paid out of the proceeds of the sale of the notes. All costs and expenses incident to…
§ 90051 The board may provide that notes or bonds and the interest thereon shall be secured by all or by part of revenues of a project upon the basis of which the…
§ 90052 Pending the actual issuance or delivery of revenue bonds, the board may issue temporary or interim bonds, certificates or receipts of any denomination…
§ 90053 The board may provide for the replacement of lost, destroyed or mutilated notes, bonds, and coupons.
§ 90054 Bonds and notes issued pursuant to the provisions of this article and the interest or income therefrom are exempt from all taxation in this state other than…
§ 90055 Notwithstanding any other provision of law, all notes and bonds hereafter sold and delivered pursuant to the provisions of this article are legal investments…
§ 90056 The board may provide for the issuance, sale, or exchange of refunding bonds for the purpose of redeeming or retiring any revenue bonds issued under the…
§ 90057 Funding or refunding bonds may be issued in a principal amount sufficient to provide funds for the payment of all bonds to be funded or refunded thereby, and…
§ 90058 All bonds and notes issued under the provisions of this article are negotiable instruments, except when registered in the name of a registered owner.
§ 90059 Before issuing any bond or bonds pursuant to the provisions of this article, the board shall by resolution declare the purpose for which the proceeds of the…
§ 90060 The board has full charge of the acquisition, construction and completion of all projects authorized by them and may proceed with such work forthwith.
§ 90061 The board may construct any project and acquire all property necessary therefor on such terms and conditions as it may deem advisable. When any part of the…
§ 90062 Title to all property acquired by the board and the revenues and income therefrom is in the State of California. The title to any moneys, revenues, sinking…
§ 90063 At all times the operation, maintenance, control, repair, construction, reconstruction, alteration and improvement of any project are vested in the board…
§ 90064 The board may use for the payment of the costs of acquisition, construction or completion of any project any funds made available to the board by the State of…
§ 90065 The board may insure against loss of revenues from any cause whatsoever and the proceeds of any insurance shall be used for the payment of bonds or notes and…
§ 90066 The board may insure against public liability or property damage. The board may provide in an indenture for the carrying of this or any other insurance in the…
§ 90067 When authorized by resolution of the board, as provided in this article, the State Treasurer shall prepare and procure the printing or engrossing of notes,…
§ 90068 The board shall fix rents, charges and fees for all projects acquired, constructed or completed under the terms of this article for the use thereof by any…
§ 90069 Rent, charges, and fees collected in error may be refunded by the board in accordance with regulations prescribed by the board. Refunds of rent, charges, and…
§ 90070 The board may include in an indenture those limitations as to competitive projects, both as to location and comparative rentals, as may be deemed necessary or…
§ 90071 The board may also include in an indenture a covenant that no project acquired, constructed or completed from the proceeds of revenue bonds issued under the…
§ 90072 The holder of any bond or note issued pursuant to this article may by mandamus or other appropriate proceeding require and compel the performance of any of the…
§ 90073 The proceeds from the sale of all bonds and notes authorized under this article, except those proceeds used to redeem outstanding bonds or notes, shall be…
§ 90074 To the extent and in the manner provided in the indenture or in a resolution authorizing the issuance of notes, all revenues received from the operation of any…
§ 90075 For the payment of the principal and interest of the notes and bonds authorized to be issued under this article, an interest and redemption fund in the State…
§ 90076 Any balance remaining in any of the funds created by this article after payment of all costs, expenses, and charges authorized to be expended therefrom, may be…
§ 90077 Moneys in the California State University Dormitory Construction Fund may be invested by the board subject only to limitations which may be provided in any…
§ 90078 After all of the notes and revenue bonds shall have been fully paid and discharged, or provision for their payment and discharge irrevocably made, any surplus…
§ 90079 All money in the funds created by the provisions of this article is hereby appropriated for expenditure in carrying out the purposes herein provided.
§ 90080 The article shall be liberally construed to carry out the objects and purposes and the declared policy of the State of California as in this article set forth.
§ 90081 An action may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure to determine the validity of…
§ 90082 Notwithstanding any other law, the Controller may use the moneys in the State College Dormitory Building Maintenance and Equipment Reserve Fund for loans to…
§ 90083 The board may pledge revenues received in accordance with Section 89770 to secure bonds issued in accordance with this article for capital expenditures, as…