ARTICLE 7. Miscellaneous [1006.1. - 1006.16.]
Article 7 added by Stats. 1970, Ch. 1488.
§§ 1006.1–1006.16 · 16 sections
- § 1006.1 All debentures and the income therefrom are at all times exempt from taxation in the State of California, except for transfer, inheritance, and gift taxes.
- § 1006.2 All debentures shall be legal investments for all trust funds, for the funds of all insurance companies, banks (both commercial and savings), trust companies,…
- § 1006.3 Any money or funds which may by law be invested in bonds of the State of California may be invested in debentures.
- § 1006.4 Whenever any bonds of the State of California may by law be used as security for the performance of any act or the deposit of any public money, debentures may…
- § 1006.5 All debentures, subject to the provisions for registration contained therein, are negotiable instruments under the law merchant.
- § 1006.6 The department may include in the proceedings authorizing the issuance of debentures any provisions not inconsistent with this chapter which limit, restrict or…
- § 1006.7 The department may provide in the proceedings authorizing issuance of debentures for the establishment of one or more reserve funds out of the proceeds of the…
- § 1006.8 The State Treasurer may sell any of the debentures authorized under this chapter to the United States of America or to any of its departments, agencies or…
- § 1006.9 Warrants for the payments to be made on account of the debentures either as to principal, interest, premium, or otherwise, shall be duly drawn by the State…
- § 1006.10 Notwithstanding anything contained in this chapter, the proceeds received from the sale of debentures and any revenues received by the department from pledged…
- § 1006.11 This chapter shall be liberally construed to carry out the objects and purposes and the declared public policy of the State of California as in this chapter…
- § 1006.12 If any section, subdivision, sentence, clause or phrase of this chapter is for any reason held to be unconstitutional or invalid or unenforceable, such…
- § 1006.13 This chapter shall not operate to rescind or repeal any act of the State of California now or hereafter enacted providing for the issuance of general…
- § 1006.14 All money in any of the funds created or authorized to be created in any resolution of issuance under the provisions of this chapter is hereby appropriated for…
- § 1006.15 The purchaser shall make an initial payment of at least 10 percent of the selling price of the property, in case of a farm, and 5 percent in the case of a…
- § 1006.16 The department shall require that all applicants under this article qualify under the applicable federal laws and regulations governing the permitted uses of…