ARTICLE 2. Financial Matters [81650. - 81658.]

Article 2 added by Stats. 2002, Ch. 849, Sec. 1.

§§ 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…