ARTICLE 4. Local Bond Pooling

Article 4 added by Stats. 1985, Ch. 868, Sec. 6.

§§ 6584–6599.3 · 36 sections

§ 6584 This article shall be known and may be cited as the Marks-Roos Local Bond Pooling Act of 1985.
§ 6584.5 The Legislature finds and declares all of the following: (a) That there is a critical need within the state to expand, upgrade, and otherwise improve the…
§ 6585 All of the following definitions govern the construction and interpretation of this article: (a) (1) Except as provided in paragraphs (2) and (3), “authority”…
§ 6586 It is the Legislature’s intent that this article be used to assist local agencies in financing public capital improvements, working capital, liability and…
§ 6586.5 (a) Notwithstanding Section 6587, an authority, or any entity acting on behalf of or for the benefit of an authority, may not authorize bonds to construct,…
§ 6586.7 (a) A copy of the resolution adopted by an authority authorizing bonds or any issuance of bonds, or accepting the benefit of any bonds or proceeds of bonds,…
§ 6587 This article does not limit any other law authorizing, or providing for, the financing of public capital improvements. Likewise, this article does not limit…
§ 6588 In addition to other powers specified in an agreement pursuant to Article 1 (commencing with Section 6500) and Article 2 (commencing with Section 6540), the…
§ 6588.5 (a) An authority that was in existence at the time of the enactment of this section may purchase, with the proceeds of its bonds or its revenue, VLF…
§ 6588.6 (a) An authority that was in existence on July 28, 2009, may purchase, with the proceeds of its bonds or its revenue, Proposition 1A receivables from one or…
§ 6588.7 (a) An authority whose financing activities are limited to financing utility projects and projects for the use or benefit of public agencies providing water,…
§ 6588.8 (a) This section shall be known and may be cited as the Water Bill Savings Act. (b) For purposes of this section, the following terms have the following…
§ 6589 An authority may enter into a bond purchase agreement with a local agency or agencies. The bond purchase agreement shall specify the maximum rate of interest,…
§ 6590 The authority may, from time to time, issue its bonds in the principal amount as the authority determines necessary to provide sufficient funds for its…
§ 6590.1 (a) In the case of bonds issued by an authority to acquire local obligations, the offering documents for the bonds shall clearly delineate investment criteria…
§ 6590.2 (a) An authority shall solicit at least three bids, and select the highest bid, for any guaranteed investment contract purchased with the proceeds of bonds…
§ 6591 (a) The authority is authorized from time to time to issue bonds to provide funds to achieve its purposes. (b) Bonds may be authorized to finance any of the…
§ 6591.1 (a) No broker, dealer, municipal securities dealer, or other firm that underwrites a bond issue of an authority shall serve as financial advisor or investment…
§ 6592 Any resolution authorizing any bonds or any issue of bonds may contain the following provisions, which shall be a part of the contract with the holders of the…
§ 6592.1 A resolution authorizing bonds or any issuance of bonds or accepting the benefit of any bonds or the proceeds of bonds shall be adopted by an authority only…
§ 6592.5 (a) No bonds issued by any local agency shall be purchased pursuant to this article by an authority at a price to yield in excess of 1 percent of the yield of…
§ 6593 No member of the governing body of the authority shall be personally liable on the bonds or be subject to any personal liability or accountability by reason of…
§ 6594 The authority may, out of any funds available therefor, purchase its bonds. The authority may hold, pledge, cancel, or resell the bonds, subject to, and in…
§ 6595 Any bonds issued under this article may be secured by a trust agreement between the authority and a corporate trustee or trustees, which may include any trust…
§ 6595.3 (a) The authority may issue bonds for the purpose of refunding any bonds, notes, or other securities of the authority then outstanding, including the payment…
§ 6595.5 Bonds issued by the authority are legal investments for all trust funds, the funds of all insurance companies, banks, both commercial and savings, trust…
§ 6595.7 (a) The authority is not required to pay any property taxes or assessments upon, or with respect to, any public capital improvement or any property acquired…
§ 6596 The State of California does hereby pledge to, and agrees with, the holders of any bonds issued under this article, and with those parties who may enter into…
§ 6597 All public capital improvements financed by the authority shall pay interest within a reasonable time after the authority receives revenues or proceeds from…
§ 6597.5 All public capital improvements financed by the authority shall be constructed or completed subject to the rules and regulations of the authority. When the…
§ 6598 Interest earned on any bonds issued by the authority shall at all times be free from state personal income tax and corporate income tax.
§ 6598.5 Local agencies may request advice from the California Debt and Investment Advisory Commission pursuant to Section 8859 regarding the formation of local bond…
§ 6599 (a) In an action filed 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…
§ 6599.1 (a) The legislative body shall, no later than 30 days prior to the sale of any bonds pursuant to this article, give written notice of the proposed sale to the…
§ 6599.2 Notwithstanding Sections 863 and 869 of the Code of Civil Procedure, the Attorney General or the Treasurer may jointly or separately file an action pursuant to…
§ 6599.3 Notwithstanding any other provision of law, an action may be brought under Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil…