CHAPTER 6.3. Employee Rental Housing
Heading of Chapter 6.3 renumbered from Chapter 6.4 by Stats. 1984, Ch. 144, Sec. 148.
§§ 54700.1–54702.15 · 36 sections
ARTICLE 1. Definitions §§ 54700.1–54700.8 · 8 sections
- § 54700.1 The definitions set forth in this article govern the construction of this chapter, unless the context requires otherwise.
- § 54700.2 “Bonds” means bonds, notes or other evidence of indebtedness issued by a city pursuant to this chapter and secured by rental or lease revenues derived from…
- § 54700.3 “Local agency” means a city, a city and county or a county.
- § 54700.4 “Construct” or “construction” means all activities necessary or incidental to the construction of housing including, but not limited to, acquisition of…
- § 54700.5 “Employee” means an employee of the local agency, the state or any political subdivision thereof, special district, including a school district, or any other…
- § 54700.6 “Housing” means any dwelling or residential structure, including, but not limited to, single-family detached dwellings, multi-family dwellings or modular…
- § 54700.7 “Legislative body” means the city council or the board of supervisors, as the case may be.
- § 54700.8 “State” means the State of California and, where the context requires, any agency or instrumentality thereof.
ARTICLE 2. Powers and Procedures §§ 54701.1–54701.13 · 13 sections
- § 54701.1 A local agency may construct or cause to be constructed rental housing for employees.
- § 54701.2 A local agency may issue bonds pursuant to this chapter for the purpose of financing the construction of rental housing for employees and for the purpose of…
- § 54701.3 Rental and lease revenues derived from rental housing for employees shall be the sole revenues of the local agency pledged for the repayment of bonds issued…
- § 54701.4 A local agency may retain engineers, architects, accountants, financial consultants, bond counsel, or other services as may be necessary in the judgment of the…
- § 54701.5 In addition to all other powers granted by this chapter, a local agency may do all things necessary or convenient to carry out the purposes of this chapter.
- § 54701.6 Notwithstanding any other provision of law, the legislative body may award contracts for the construction of housing for employees by negotiation or following…
- § 54701.7 Construction of housing for employees pursuant to this chapter shall be exempt from the provisions of Section 30213 of the Public Resources Code.
- § 54701.8 A local agency may accept financial or other assistance from any public or private source, and may expend any funds so accepted for any of the purposes of this…
- § 54701.9 Contributions for any of the purposes of this chapter by a city, the state or any political subdivision thereof, a special district, including a school…
- § 54701.10 Bonds issued under the provisions of this chapter shall not be deemed to constitute a debt or liability of the local agency for which is pledged the faith and…
- § 54701.11 All construction shall be undertaken or completed subject to the rules and regulations of the local agency. A local agency may acquire by deed, purchase,…
- § 54701.12 A local agency shall require that contractors and subcontractors engaged in construction financed under this chapter shall provide equal opportunity for…
- § 54701.13 Not less than 20 percent of the total number of units of housing for rent which are financed, or for which financing has been extended or committed, pursuant…
ARTICLE 3. Bonds and Notes §§ 54702.1–54702.15 · 15 sections
- § 54702.1 (a) A local agency may, from time to time, issue its bonds for the purpose of financing construction of rental housing for employees. In anticipation of the…
- § 54702.2 In determining the amount of bonds to be issued, the local agency may include all costs of the issuance of such bonds, bond reserve funds, and bond interest.
- § 54702.3 The bonds may be issued as serial bonds or as term bonds, or the local agency, in its discretion, may issue bonds of both types. The bonds shall be authorized…
- § 54702.4 Any resolution or resolutions authorizing any bonds or any issue of bonds may contain provisions respecting any of the following terms and conditions, which…
- § 54702.5 No member of the legislative body nor any person executing the bonds shall be liable personally on the bonds or be subject to any personal liability or…
- § 54702.6 The local agency may purchase its bonds from any source of funds available therefor. The local agency may hold, pledge, cancel, or resell such bonds, subject…
- § 54702.7 In the discretion of the local agency, any bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the local…
- § 54702.8 Any holder of bonds issued under the provisions of this chapter or any of the coupons appertaining thereto, and the trustee or trustees appointed pursuant to…
- § 54702.9 Any local agency may provide for the issuance of bonds of the city for the purpose of refunding any bonds of the local agency then outstanding, including the…
- § 54702.10 Notwithstanding any other provision of law, revenue bonds issued pursuant to this chapter shall be legal investments for all trust funds, insurance companies,…
- § 54702.11 The exercise of the powers granted by this chapter shall be in all respects for the benefit of the people of this state and for their health and welfare. Any…
- § 54702.12 If the jurisdiction of the local agency to order a proposed act is not affected, an omission of any officer or the local agency in proceedings under this…
- § 54702.13 This chapter is full authority for the issuance of bonds by a local agency for the purpose of financing construction of rental housing for employees.
- § 54702.14 This chapter shall be deemed to provide a complete, additional, and alternative method for doing the things authorized thereby, and shall be regarded as…
- § 54702.15 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…