ARTICLE 5. Agency Bonds
Article 5 added by Stats. 1963, Ch. 1812.
§§ 33640–33665 · 28 sections
- § 33640 From time to time an agency may, subject to the approval of the legislative body, issue bonds for any of its corporate purposes. An agency may also, subject to…
- § 33641 An agency may issue any types of bonds which it may determine, including bonds on which the principal and interest are payable: (a) Exclusively from the income…
- § 33641.5 (a) As used in this section: (1) “Collateral” means any revenues, moneys, accounts receivable, contracts rights, and other rights to payment of whatever kind…
- § 33642 Any of such bonds may be additionally secured by a pledge of any revenues or by an encumbrance by mortgage, deed of trust, or otherwise of any redevelopment…
- § 33643 Neither the members of an agency nor any persons executing the bonds are liable personally on the bonds by reason of their issuance.
- § 33644 The bonds and other obligations of any agency are not a debt of the community, the State, or any of its political subdivisions and neither the community, the…
- § 33645 The agency may authorize bonds by resolution. The resolution, trust indenture, or mortgage may provide for: (a) The issuance of the bonds in one or more…
- § 33645.5 Notwithstanding Section 33645 or any other provision of law, the rate of interest on any indebtedness or obligation of an agency which is payable to the…
- § 33646 The bonds may be sold at no less than par less a discount of not to exceed 5 percent, at public sale held after notice published once at least five days prior…
- § 33647 If any agency member or officer whose signature appears on bonds or coupons ceases to be such member or officer before delivery of the bonds, his signature is…
- § 33648 Bonds issued pursuant to this part are fully negotiable.
- § 33649 In any action or proceedings involving the validity or enforceability of any bonds or their security, any such bond reciting in substance that it has been…
- § 33650 In connection with the issuance of bonds, and in addition to its other powers, an agency has the powers prescribed in Sections 33651 to 33659, inclusive.
- § 33651 An agency may: (a) Pledge all or any part of its gross or net rents, fees, or revenues to which its right then exists or may thereafter come into existence.…
- § 33652 An agency may covenant: (a) Against pledging all or any part of its rents, fees, and revenues. (b) Against encumbering all or any part of its real or personal…
- § 33653 An agency may: (a) Covenant as to the bonds to be issued, as to the issuance of such bonds in escrow or otherwise, and as to the use and disposition of the…
- § 33654 An agency may: (a) Covenant as to the consideration or rents and fees to be charged in the sale or lease of a redevelopment project, the amount to be raised…
- § 33655 An agency may prescribe the procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds whose…
- § 33656 An agency may covenant: (a) As to the use of any or all of its real or personal property. (b) As to the maintenance of its real and personal property, its…
- § 33657 An agency may: (a) Covenant as to the rights, liabilities, powers, and duties arising upon the breach by it of any covenant, condition, or obligation. (b)…
- § 33658 An agency may: (a) Vest in a trustee or the holders of bonds or any proportion of them the right to enforce the payment of the bonds or any covenants securing…
- § 33659 An agency may: (a) Exercise all or any part or combination of the powers granted in Sections 33651 to 33658 inclusive. (b) Make covenants other than and in…
- § 33660 In addition to all other rights which may be conferred on him, and subject only to any contractual restrictions binding upon him, an obligee may: (a) By…
- § 33661 By its resolution, trust indenture, mortgage, lease, or other contract, an agency may confer upon any obligee holding or representing a specified amount in…
- § 33662 The bonds are issued for an essential public and governmental purpose, and together with interest on them and income from them are exempt from all taxes.
- § 33663 Notwithstanding any restrictions on investments contained in any laws, the state and all public officers, municipal corporations, political subdivisions, and…
- § 33664 (a) An agency may purchase its bonds as follows: (1) At a price not more than the sum of their principal amount and accrued interest plus (if the bonds…
- § 33665 All of the provisions of this article are subject to the limitations of Article 3 (commencing with Section 33620) of this chapter.