DIVISION 22. CALIFORNIA URBAN WATERFRONT AREA RESTORATION FINANCING AUTHORITY ACT [32000. - 32208.]
Division 22 added by Stats. 1983, Ch. 1264, Sec. 1.
§§ 32000–32208 · 64 sections
CHAPTER 1. General Provisions and Definitions §§ 32000–32028 · 14 sections
ARTICLE 1. General Provisions §§ 32000–32003 · 4 sections
- § 32000 This division shall be known and may be cited as the California Urban Waterfront Area Restoration Financing Authority Act.
- § 32001 The Legislature finds and declares that it is essential that the state, in cooperation with local governments, use all practical means and measures to restore,…
- § 32002 As to urban waterfront areas in the coastal zone, the purpose of this division is to carry out and make effective Chapter 7 (commencing with Section 31300) of…
- § 32003 This division is necessary for the welfare of the state and its inhabitants and shall be liberally construed to implement its purposes.
ARTICLE 2. Definitions §§ 32020–32028 · 10 sections
- § 32020 Unless the context otherwise requires, the definitions in this article govern the interpretation of this division.
- § 32021 “Authority” means the California Urban Waterfront Area Restoration Financing Authority established pursuant to Section 32050, and any board, commission,…
- § 32022 “Bonds” means bonds, notes, bond anticipation notes, commercial paper, and any other evidences of indebtedness.
- § 32023 “Coastal zone” means that area of the state defined in subdivision (a) of Section 31006, except that it includes lands in Contra Costa County from the…
- § 32024 “Conservancy” means the State Coastal Conservancy established pursuant to Section 31100.
- § 32025 “Cost,” as applied to a project, or portion thereof, financed under this division, means all, or any part of, the costs of construction and acquisition of all…
- § 32025.5 “Metropolitan statistical area” means any area so defined by the federal Office of Management and Budget.
- § 32026 “Participating party” means any public or private entity, profit or nonprofit, including, but not limited to, any municipality, county, district, joint powers…
- § 32027 “Project” means an urban waterfront restoration activity located wholly or partly within the coastal zone for which a plan of urban waterfront restoration has…
- § 32028 “Revenue” means all rents, receipts, purchase payments, loan repayments, proceeds of bonds, and all other income or receipts derived by the authority from the…
CHAPTER 2. Organization of the Authority: General Powers and Duties §§ 32050–32059.5 · 11 sections
- § 32050 (a) There is in state government the California Urban Waterfront Area Restoration Financing Authority. The authority constitutes a public instrumentality and a…
- § 32051 All members shall serve thereon without compensation as members of the authority.
- § 32052 This division shall be administered by the authority which shall have, and is hereby vested with, all powers reasonably necessary to carry out its powers and…
- § 32053 The authority shall maintain an office in the City of Sacramento.
- § 32054 The chair shall appoint an executive director who shall not be a member of the authority and who shall serve at the pleasure of the authority and shall employ…
- § 32055 The authority may, in accordance with Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code, adopt the…
- § 32056 (a) The Attorney General shall be the legal counsel for the authority, but, upon approval of the Attorney General, which approval shall not be unreasonably…
- § 32057 Subject to the conditions, restrictions, and limitations of Section 32059, the authority shall have the power to do all the following: (a) Adopt bylaws for the…
- § 32058 The authority shall establish criteria for the selection of projects to receive financial assistance from the authority. The project selection criteria shall…
- § 32059 (a) No project located wholly or partially within the coastal zone shall be eligible for approval unless it has been approved by the conservancy and is located…
- § 32059.5 (a) No project located within the territory of the Sacramento-Yolo Port District, the Stockton Port District, or on a river, lake, or reservoir within a…
CHAPTER 3. Funds: Security for Payment of Bonds: Accounts: Deposits: Investments: Interest and Other Increments §§ 32060–32066 · 8 sections
- § 32060 (a) The California Urban Waterfront Area Restoration Financing Authority Fund is hereby created in the State Treasury. Notwithstanding Section 13340 of the…
- § 32061 All expenses incurred in carrying out this division shall be payable solely from funds provided under the authority of this division, and no liability or…
- § 32061.5 The activities of the conservancy in carrying out its responsibilities under this division shall be deemed to be consistent with and in furtherance of Chapter…
- § 32062 All projects financed by the authority shall be constructed or completed subject to the rules and regulations of the authority.
- § 32063 When the principal of, and interest on, bonds of the authority issued to finance the cost of a particular project for a participating party, including any…
- § 32064 (a) The authority, or its executive director if authorized by resolution of the authority, shall take official action towards the issuance of bonds with…
- § 32065 The authority, not later than March 31 of each year, shall submit to the Legislature a report of its activities for the preceding calendar year ending December…
- § 32066 The Treasurer is the elected representative of the state to approve the issuance of bonds issued by or on behalf of the state pursuant to this chapter to the…
CHAPTER 4. Bonds and Notes §§ 32100–32154 · 22 sections
ARTICLE 1. General §§ 32100–32116 · 17 sections
- § 32100 The total amount of bonds which may be outstanding at any one time under this division shall not exceed six hundred fifty million dollars ($650,000,000). Bonds…
- § 32101 The Legislature may, by statute, authorize the authority to issue bonds in excess of the amount specified in Section 32100.
- § 32102 (a) The authority is authorized from time to time to issue its negotiable bonds to provide funds to achieve its purposes. (b) Bonds may be authorized to…
- § 32103 Except as otherwise expressly provided by the authority, every issue of its bonds shall be general obligations of the authority payable from any revenues or…
- § 32104 Subject to the limitations in Sections 32100 and 32101, the bonds may be issued as serial bonds or as term bonds, or the authority may, in its discretion,…
- § 32105 The bonds or notes shall be sold by the Treasurer within 60 days after receipt of a certified copy of the authority’s resolution authorizing the sale of the…
- § 32106 Any resolution or resolutions authorizing any bonds or any issue of bonds may contain the following provisions, which shall be a part of the contract with the…
- § 32107 Neither the members of the authority nor any person executing the bonds or notes shall be liable personally on the bonds or notes or be subject to any personal…
- § 32108 The authority may, out of any funds available therefor, purchase its bonds or notes. The authority may hold, pledge, cancel, or resell the bonds, subject to…
- § 32109 In the discretion of the authority, any bonds issued under this division may be secured by a trust agreement by and between the authority and a corporate…
- § 32110 (a) The trust agreement or the resolution providing for the issuance of the bonds may pledge or assign the revenues to be received or proceeds of any contract…
- § 32111 Notwithstanding any other provision of law, the Treasurer shall not be deemed to have a conflict of interest by reason of acting as trustee pursuant to this…
- § 32112 All expenses incurred in carrying out the provisions of this trust agreement or resolution may be treated as a part of the cost of the operation of a project.
- § 32113 Bonds issued under this division do not constitute a debt or liability of the state or of any political subdivision thereof, other than the authority, or a…
- § 32114 (a) The authority may provide for the issuance of bonds of the authority for the purpose of refunding any bonds, notes, or other securities of the authority…
- § 32115 Bonds issued by the authority are legal investments for all trust funds, the funds of all insurance companies, banks, both commercial and savings, trust…
- § 32116 No liability shall be incurred by the authority beyond the extent to which moneys have been provided under this division, except that, for the purposes of…
ARTICLE 2. Supplemental Bond Provisions §§ 32150–32154 · 5 sections
- § 32150 The authority is not required to pay any property taxes or assessments upon, or with respect to, an urban waterfront restoration project or any property…
- § 32151 Subject to Section 32153, the existence of the authority may be terminated by statute at any time by the Legislature. Upon dissolution of the authority, the…
- § 32152 This division provides a complete, additional, and alternative method for the doing of the things authorized thereby, and shall be regarded as supplemental and…
- § 32153 The State of California does hereby pledge to, and agree with, the holders of any obligations issued under this division, and with those parties who may enter…
- § 32154 The powers granted to the authority by this division may be exercised without regard or reference to any department or agency of the state. All other general…
CHAPTER 5. Construction and Leases of Facilities §§ 32200–32208 · 9 sections
- § 32200 The authority may contract with any participating party for the construction of an urban waterfront restoration project by the participating party. All…
- § 32201 The authority may, as lessor or lessee, enter into leases and agreements with any participating party relating to the acquisition, construction, and…
- § 32202 The authority may enter into contracts of sale with any participating party covering any urban waterfront restoration project financed by the authority. The…
- § 32203 As an alternative to leasing or selling an urban waterfront restoration project to a participating party, the authority may finance the acquisition,…
- § 32204 All moneys received pursuant to this division, whether as proceeds from the sale of bonds, notes, or other evidence of indebtedness or as revenues, are trust…
- § 32205 Any holder of bonds, notes, or other obligations issued under this division or any of the coupons appertaining thereto, and the trustee or trustees under any…
- § 32206 The exercise of the powers granted by this division shall be in all respects for the benefit of the people of this state, for their health and welfare, and…
- § 32207 If the jurisdiction of the authority to order a proposed act is not affected, an omission of any officer or of the authority in the proceedings under this…
- § 32208 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…