CHAPTER 4. Powers and Functions of Authority [81645. - 81662.]

Chapter 4 added by Stats. 2002, Ch. 849, Sec. 1.

§§ 81645–81662 · 16 sections

1. ARTICLE 1. Powers §§ 81645–81649 · 5 sections

   • § 81645 The authority may exercise the powers that are expressly granted by this division, together with other powers that are reasonably implied from those expressed…
   • § 81646 (a) The authority may make contracts of any nature, including, but not limited to, contracts to employ labor, to indemnify and hold harmless, and to do all…
   • § 81647 The authority may take by grant, purchase, bequest, devise, or lease and may hold, enjoy, lease, sell, or otherwise dispose of real and personal property of…
   • § 81648 The authority may apply for and receive state and federal grants, loans, and other financial assistance.
   • § 81649 Nothing in this division changes the governance, control, or ownership of the regional water system.
2. ARTICLE 2. Financial Matters §§ 81650–81658 · 8 sections

   • § 81650 The board shall adopt a budget for each fiscal year.
   • § 81651 The accounts of the authority shall be audited annually in accordance with generally accepted auditing standards by independent certified public accountants…
   • § 81652 The authority may borrow money, incur indebtedness, and issue notes and bonds as provided in this division, or as otherwise authorized by law.
   • § 81653 (a) The authority may issue revenue bonds upon the adoption of an ordinance by a two-thirds vote of all of the voting members of the board, after notice and…
   • § 81654 The authority may issue bonds for the purpose of refunding any revenue bonds of the authority, whether due or not due.
   • § 81655 The authority may issue negotiable promissory notes to acquire funds for any authority purpose. The notes shall have a term not to exceed five years. The total…
   • § 81656 Bonds and other evidences of indebtedness issued by the authority are legal investments for all trust funds and for funds of all insurers, commercial and…
   • § 81658 (a) The proceeds of revenue bonds issued by the authority in accordance with this division may be used only on projects designed and intended in substantial…
3. ARTICLE 3. Controversies §§ 81660–81662 · 3 sections

   • § 81660 The authority may sue and be sued in all actions and proceedings and in all courts and tribunals of competent jurisdiction.
   • § 81661 All claims for money or damages against the authority are governed by Part 3 (commencing with Section 900) and Part 4 (commencing with Section 940) of Division…
   • § 81662 An action to determine the validity of any contract, bond, note, or other evidence of indebtedness may be brought pursuant to Chapter 9 (commencing with…