CHAPTER 8. Redevelopment Construction Loans
Chapter 8 added by Stats. 1975, Ch. 48.
§§ 33750–33799 · 39 sections
ARTICLE 1. General Provisions and Definitions §§ 33750–33753 · 5 sections
- § 33750 The Legislature finds and declares that it is necessary and essential that redevelopment agencies be authorized to make long-term, low-interest loans through…
- § 33751 The Legislature further finds and determines that a program to provide residential construction financing would accomplish the following: (a) Facilitate…
- § 33751.5 The Legislature further finds and declares that the construction and rehabilitation of residences intended for occupancy primarily by persons and families of…
- § 33752 It is the intent of the Legislature, in enacting this chapter, to strengthen the vitality and promote the completion of urban redevelopment for the general…
- § 33753 The definitions set forth in Article 1 (commencing with Section 33000) of Chapter 1 of this part shall govern the construction of this chapter. Additionally,…
ARTICLE 2. Powers and Procedures §§ 33760–33769 · 14 sections
- § 33760 (a) Within its territorial jurisdiction, an agency may determine the location and character of any residential construction to be financed under this chapter…
- § 33760.5 (a) Notwithstanding the requirements of Section 33760, agencies which operate within a jurisdiction, the population of which is in excess of 600,000 persons,…
- § 33760.7 The same notice requirements as specified in Section 65863.10 of the Government Code shall apply to multifamily rental housing that receives financial…
- § 33761 An agency may issue revenue bonds for the purpose of financing residential construction authorized by this chapter and for the purpose of funding or refunding…
- § 33761.5 (a) (1) When refunding revenue bonds for multifamily housing which were previously issued pursuant to this chapter, the agency shall ensure that rental units…
- § 33762 An agency may establish limitations respecting fees, charges, and interest rates to be used by qualified mortgage lenders for financing residential…
- § 33763 (a) No loan shall be made for financing except through a qualified mortgage lender. (b) All mortgage loans made for financing pursuant to this chapter from the…
- § 33763.5 All loans made by a redevelopment agency shall be made according to a regulation that contains standards, qualifications, and criteria for the making and…
- § 33764 An agency may employ engineering, architectural, accounting, collection, or other services, including services in connection with the servicing of loans made…
- § 33765 In addition to all other powers specifically granted by this chapter, an agency may do all things necessary or convenient to carry out the purposes of this…
- § 33766 Revenues and the proceeds of mortgage insurance or guarantee claims, if any, shall be the sole source of funds pledged by an agency for repayment of its…
- § 33767 All residential construction shall be undertaken or completed subject to the rules and regulations of the agency. An agency may acquire by deed, purchase,…
- § 33768 The provisions of Chapter 16 (commencing with Section 7260) of Division 7 of Title I of the Government Code shall not apply to owners or tenants of any…
- § 33769 (a) An agency shall require that any residence that is constructed with financing obtained under this chapter shall be open, upon sale or rental of any portion…
ARTICLE 3. Bonds and Notes §§ 33775–33784 · 12 sections
- § 33775 (a) An agency may, from time to time, issue its negotiable revenue bonds for the purpose of making or purchasing mortgage or construction loans, or making…
- § 33775.5 In determining the amount of bonds to be issued, the agency may include all costs of the issuance of such revenue bonds, bond reserve funds, and bond interest…
- § 33776 The revenue bonds may be issued as serial bonds or as term bonds, or the redevelopment agency, in its discretion, may issue revenue bonds of both types. The…
- § 33777 Any resolution or resolutions authorizing any revenue bonds or any issue of revenue bonds may contain provisions respecting any of the following terms and…
- § 33777.5 When not immediately required to provide financing under this chapter, revenues and the proceeds of revenue bonds may be invested in any securities or…
- § 33778 Neither the members of the agency nor any person executing the revenue bonds shall be liable personally on the revenue bonds or be subject to any personal…
- § 33779 The agency shall have the power out of any funds available therefor to purchase its revenue bonds. The agency may hold, pledge, cancel, or resell such revenue…
- § 33780 In the discretion of the agency, any revenue bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the agency…
- § 33781 Any holder of revenue bonds issued under the provisions of this chapter or any of the coupons appertaining thereto, and the trustee or trustees appointed…
- § 33782 Any agency may provide for the issuance of the revenue bonds of the agency for the purpose of refunding any revenue bonds of the agency then outstanding, or…
- § 33783 Notwithstanding any other provision of law, revenue bonds issued pursuant to this chapter shall be legal investments for all trust funds, insurance companies,…
- § 33784 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…
ARTICLE 4. Residential Construction §§ 33790–33799 · 8 sections
- § 33790 An agency may not finance mortgage or construction loans which have not been authorized by prior written agreement between the agency and the participating…
- § 33791 An agency may enter into loan agreements with any participating party relating to residential construction of any kind or character. The terms and conditions…
- § 33792 All moneys received pursuant to the provisions of this chapter, whether revenues or proceeds from the sale of revenue bonds or proceeds of mortgage insurance…
- § 33795 This chapter being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect its purposes.
- § 33796 If the jurisdiction of the agency to order a proposed act is not affected, an omission of any officer or the agency in proceedings under this chapter or any…
- § 33797 This chapter is full authority for the issuance of bonds by an agency for the purpose of financing residential construction.
- § 33798 This chapter shall be deemed to provide a complete, additional, and alternative method for doing the things authorized thereby, and shall be regarded as…
- § 33799 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…