PART 5. LOCAL HOUSING FINANCE AGENCIES [52000. - 52106.]

Part 5 added by Stats. 1979, Ch. 1069.

§§ 52000–52106 · 82 sections

CHAPTER 1. Legislative Findings and Declarations §§ 52000–52009 · 10 sections
- § 52000 The Legislature finds and declares that the subject of housing is of vital importance to the health, safety, and welfare of the residents of this state, for…
- § 52001 The Legislature finds and declares that there exists within the state a serious shortage of decent, safe, and sanitary housing which is affordable to many…
- § 52002 The Legislature finds and declares that it is necessary and essential that counties and cities be authorized to directly or indirectly make long-term,…
- § 52003 The Legislature finds and declares that in order to preserve a healthy housing market and avoid a two-tier market where publicly subsidized mortgage capital…
- § 52004 The Legislature finds and declares that the present shortage of decent, safe, and sanitary housing available to potential purchasers in the lower end of the…
- § 52005 The Legislature finds and declares that the revenue bonds provided for in this part are to be used to complement and not compete with home loans made from…
- § 52006 The Legislature finds and declares that the authority to issue revenue bonds to aid in the financing of home purchase is needed in the cities and the counties…
- § 52007 The Legislature finds and declares that the establishment of basic procedures for the issuance of revenue bonds to finance the purchase of residential housing…
- § 52008 The Legislature finds and declares that the construction of federally assisted housing for persons and families of low or moderate income is not a primary…
- § 52009 The Legislature finds and declares all of the following: (a) The ownership and occupancy of a home is a fundamental element in the fabric of the American way…
CHAPTER 2. Definitions §§ 52010–52016 · 11 sections
- § 52010 Unless otherwise indicated by the context, the definitions contained in this chapter shall govern the construction of this part. The definitions contained in…
- § 52011 “Bonds” means the revenue bonds authorized under this part and includes notes and any and all other limited obligations or evidences of indebtedness payable as…
- § 52011.5 “City” or “county” includes a city and county and also includes any agency created by a joint powers agreement under Article 1 (commencing with Section 6500)…
- § 52012 “Home” means real property and improvements thereon consisting of a single dwelling unit and which is owned by a mortgagor who occupies or intends to occupy…
- § 52012.5 For purposes of this chapter, “first-time homebuyer” means a person who is a purchaser of an owner-occupied housing unit and who neither has, nor has had, a…
- § 52013 (a) “Home mortgage” or “mortgage” means an interest-bearing loan made as provided in this part to a mortgagor, whether originated in the manner provided in…
- § 52013.5 (a) “Home mortgage” or “mortgage” means an interest-bearing loan made as provided in this part to a mortgagor, whether originated in the manner provided in…
- § 52014 “Lending institution” means any bank, trust company, savings bank, national banking association, savings and loan association, building and loan association,…
- § 52015 “Mortgagor” means a person or persons who have received a home mortgage on a home and who are deemed by a city or county conducting a program under this part…
- § 52015.5 “Mortgagor” means a person or persons who have received a home mortgage on a home and who are deemed by the City of Gardena under this part to be either a…
- § 52016 “Person” means any individual, partnership, copartnership, firm, company, corporation, limited liability company, lending institution, association, joint stock…
CHAPTER 3. Home Financing §§ 52020–52023 · 5 sections
- § 52020 (a) For purposes of a home financing program authorized by this part, a city or county has the following powers and duties: (1) To acquire, contract, and enter…
- § 52020.5 (a) For purposes of a home financing program authorized by this part, the City of Gardena has the following powers and duties: (1) To acquire, contract, and…
- § 52021 A home financing program authorized by this part shall not be implemented unless the program complies with the land use element and the housing element which…
- § 52022 Notwithstanding Section 711 of the Civil Code, any indebtedness incurred pursuant to a mortgage financed under the terms of this part shall be subject to…
- § 52023 In providing financing for home mortgages pursuant to this part, a lending institution shall incur no liability in any part based on any policy or procedure…
CHAPTER 4. Revenue Bonds §§ 52030–52044 · 16 sections
- § 52030 For purposes of this part, a city or county shall have the following powers: (a) To issue its bonds to defray, in whole or in part, (1) the costs of acquiring…
- § 52031 The exercise of any or all powers granted by this part shall be authorized and the bonds shall be authorized to be issued under this part for the purposes set…
- § 52032 The bonds shall bear interest at such rate or rates, may be payable at such times, may be in one or more series, may bear such date or dates, may mature at…
- § 52033 Any resolution authorizing the issuance of the bonds may contain covenants as to (1) the use and disposition of the revenues and receipts from or with respect…
- § 52034 The bonds shall bear the manual or facsimile signatures of such officers of the issuing city or county as may be designated in the resolution authorizing the…
- § 52035 Bonds issued under this part may be secured by a pledge of, or lien upon the revenues and receipts derived from or with respect to the home mortgages or from…
- § 52036 Any pledge made to secure bonds shall be valid and binding from the time when the pledge is made. The revenues and receipts or property or interests in…
- § 52037 All bonds issued pursuant to this part shall be limited obligations of the city or county issuing the same, payable solely out of the revenues and receipts…
- § 52038 Neither the members of the governing body of a city or county, nor any official or employee of a city or county, nor any person executing bonds issued under…
- § 52039 Any property or interests in property held by or on behalf of a city or county pursuant to the provisions of this part and any bonds issued under the…
- § 52040 Notwithstanding any other provision of law, bonds issued pursuant to this part shall be legal investments for all trust funds, insurance companies, savings and…
- § 52041 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 and any other applicable laws…
- § 52042 A city or county which has issued bonds pursuant to this part or any trustee or custodian on behalf of the city or county, may invest any funds held by it as…
- § 52042.5 Investments under Section 52042 may include mortgage obligations on single-family dwellings purchased from a state or federally chartered savings and loan…
- § 52043 All moneys received pursuant to the provisions of this part, whether revenues or proceeds from the sale of revenue bonds or proceeds of mortgage insurance or…
- § 52044 A city or county may provide for the issuance of the revenue bonds of the city or county for the purpose of refunding any revenue bonds of the city or county…
CHAPTER 5. Miscellaneous Provisions §§ 52051–52054 · 5 sections
- § 52051 The provisions of Chapter 16 (commencing with Section 7260) of Division 7 of Title 1 of the Government Code shall not apply to a mortgagor of any home acquired…
- § 52052 This part is necessary for the health, welfare and safety of the state, its counties and cities and its inhabitants. Therefore, it shall be liberally construed…
- § 52053 (a) Except as provided in subdivision (b), the powers conferred by this part are in addition and supplemental to, and the limitations imposed by this part…
- § 52053.5 Notwithstanding subdivision (b) of Section 52053 or any of the limitations of this part: (a) A charter city having seven community development districts…
- § 52054 If any provision of this part or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or…
CHAPTER 6. California Housing Finance Agency Assistance in Issuing City and County Revenue Bonds for Home Mortgages §§ 52060–52066 · 7 sections
- § 52060 This chapter constitutes an alternative method for cities and counties to issue revenue bonds for providing home mortgages pursuant to the provisions of…
- § 52061 The agency, and any city or county, or a city and a county, may enter into an agreement which provides that the agency sell bonds on behalf of any such city or…
- § 52062 Any agreement made pursuant to Section 52061 shall contain provisions doing all of the following: (a) Limiting the maximum amount of bonds to be issued by a…
- § 52063 Any agreement pursuant to Section 52061 may provide any or all of the following: (a) That the agency will provide, either directly or through agency approved…
- § 52064 Subject only to the other provisions of this chapter and to any agreement between the agency and city or county, the provisions of Chapter 4 (commencing with…
- § 52065 Bonds issued pursuant to this chapter shall not be deemed issues of the agency for any purpose, including being counted within any calculation of the agency’s…
- § 52066 Bonds of more than one city or county may be pooled for purposes of issuance and bond proceeds, reserved or other security for the bonds, including, but not…
CHAPTER 7. Multifamily Rental Housing §§ 52075–52098 · 21 sections
1. ARTICLE 1. Financing §§ 52075–52087 · 12 sections
  - § 52075 (a) Subject to the limitations of this chapter, any city or county may, in addition to any other power conferred by this part, issue revenue bonds as provided…
  - § 52075.1 As used in this chapter, “city or county” includes any city and county.
  - § 52076 Subject to the limitations prescribed in this chapter, a city or county may make, or undertake commitments to make, construction loans and mortgage loans to…
  - § 52077 Subject to the limitations prescribed in this chapter, a city or county may purchase, or undertake, directly or indirectly through lending institutions,…
  - § 52078 For the purposes of this chapter, a city or county shall have the power to issue its bonds to defray, in whole or in part, the costs of studies and surveys,…
  - § 52079 A city or county may, in conjunction with the financing of multifamily rental housing pursuant to this chapter, finance the acquisition, construction,…
  - § 52080 (a) (1) A multifamily rental housing development financed, or for which financing has been extended or committed pursuant to this chapter from the proceeds of…
  - § 52080.5 (a) (1) When refunding revenue bonds for multifamily housing which were previously issued pursuant to Section 52080, the city, county, or city and county shall…
  - § 52081 For purposes of this article, “housing sponsor” means a person as defined in Section 52016.
  - § 52085 The primary purpose of this chapter is to meet the multifamily rental housing needs of persons and families of low or moderate income. The exercise of the…
  - § 52086 Two or more cities in the same county, or a county and one or more cities within the county, or two or more counties, may enter into an agreement to join or…
  - § 52087 The same notice requirements specified in Section 65863.10 of the Government Code shall apply to multifamily rental housing that receives financial assistance…
2. ARTICLE 2. State Assistance §§ 52090–52092 · 5 sections
  - § 52090 This article constitutes an alternative method for cities and counties to issue bonds for making construction loans and mortgage loans for multifamily rental…
  - § 52090.5 The agency and any city or county may enter into an agreement which provides that the agency may sell bonds authorized pursuant to Chapter 4 (commencing with…
  - § 52091 Any agreement made pursuant to Section 52090.5 shall contain all of the following provisions: (a) Limitations on the maximum amount of bonds to be issued by a…
  - § 52091.5 Bonds issued pursuant to this article shall not be deemed bonds of the agency for the purposes of any limitations contained in Section 51350.
  - § 52092 The agency shall adopt uniform regulations for administration of local programs under this article. Local programs conducted by the agency under this article…
3. ARTICLE 3. Miscellaneous § 52095 · 1 section
  - § 52095 Whenever a complaint is received concerning a violation of the restrictions imposed pursuant to Section 52080, the city or county shall investigate promptly…
4. ARTICLE 4. Application to Chartered Cities §§ 52097–52098 · 3 sections
  - § 52097 Except as otherwise provided in this article, this chapter shall not be construed to limit or otherwise restrict the authority of chartered cities to issue…
  - § 52097.5 (a) Multifamily rental housing development financed, or for which financing has been extended or committed, pursuant to this chapter from the proceeds of sale…
  - § 52098 Each city, county, and city and county that has issued bonds pursuant to this chapter or a charter provision or ordinance for the purposes specified in Section…
CHAPTER 8. Loans to Tax-Exempt Organizations §§ 52100–52106 · 7 sections
- § 52100 The Legislature hereby finds and declares that it would be beneficial to empower counties and cities to issue tax-exempt revenue bonds for the purpose of…
- § 52101 A city or county may issue bonds to provide funds to be loaned by the city or county to nonprofit organizations exempt from federal income taxation under…
- § 52102 (a) Occupancy and rent restrictions with respect to housing acquired pursuant to this chapter shall either meet the requirements of subparagraphs (A) and (B)…
- § 52103 A city or county may, in conjunction with the financing of multifamily rental housing pursuant to this chapter, finance the acquisition of commercial property…
- § 52104 Whenever a complaint is received concerning a violation of the restrictions imposed pursuant to Section 52102, the city or county shall investigate promptly…
- § 52105 For the purposes of this chapter, a city or county shall have the power to issue its bonds to defray, in whole or in part, the costs of studies and surveys,…
- § 52106 (a) Bonds issued pursuant to this chapter shall be repayable solely from payments of principal and interest on account of the loans funded thereby. The issuing…