ARTICLE 6.5. Building Certificates
Article 6.5 added by Stats. 1959, Ch. 2070.
§§ 53800–53814 · 15 sections
- § 53800 The following terms whenever used in this article have the meanings given in this section except where the context clearly indicates otherwise: (a) “Local…
- § 53801 The board may issue certificates to the investing agency pursuant to this article to obtain funds to pay the cost of public buildings, secure the payment of…
- § 53802 Certificates issued pursuant to this article are negotiable instruments and are transferable between local agencies and state agencies or between such agencies…
- § 53803 The board has no power at any time or in any manner to pledge the credit or taxing power of the local agency.
- § 53804 The preparation of plans and specifications of any public building constructed pursuant to this article shall be the responsibility of the board.
- § 53805 The local agency shall be responsible for the maintenance and repair of all public buildings constructed, acquired or operated by the board.
- § 53806 The certificates shall be authorized by resolutions of the board, and shall bear such dates, mature at such time or times not exceeding 25 years from their…
- § 53807 The certificates shall be sold by the board at their face value to the investing agency. Such certificates are a legal investment by the investing agency…
- § 53808 Any resolutions authorizing the issue of certificates may contain provisions which are part of the contract with the investing agency as to: (a) Pledging all…
- § 53809 The board may provide, by resolution, for the issuance of refunding certificates for the purpose of refunding any certificates of the board issued pursuant to…
- § 53810 The treasurer of the local agency shall act as trustee for the board and the holders of the certificates issued under this article and the board may authorize…
- § 53811 The rights and remedies conferred by this article upon or granted to certificate holders are in addition to and not in limitation of any rights and remedies…
- § 53812 A trustee, appointed pursuant to Section 53811, or acting under a deed of trust, indenture, or other agreement, whether or not all certificates have been…
- § 53813 In addition to all other rights and all other remedies the holder of certificates of the board may by an action at law enforce his rights against the board,…
- § 53814 All money received by the board from whatever source derived, shall be transmitted by the board at least once in every calendar month to the county treasurer,…