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Education Code - EDC - EDC § 94102
Education Code - EDC - EDC § 94102
All assets and obligations of the California Student Loan Authority, as of the effective date of the act that enacts this section during the 1995–96 Regular Session, are hereby transferred to, and assumed by, the California Educational Facilities Authority. All of those assets sh
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Education Code - EDC - EDC § 94102.1
Education Code - EDC - EDC § 94102.1
In addition to the definition provided in Section 94110, “student loan” may also mean loan assumptions pursuant to Article 5 (commencing with Section 69612) of Chapter 2 of Part 42 of Division 5.
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Education Code - EDC - EDC § 94103
Education Code - EDC - EDC § 94103
(a) Notwithstanding any other provision of law, no city, county, city and county, district, or other local jurisdiction shall operate, or request or authorize another entity, including, but not necessarily limited to, a corporation, either directly or through an intermediary, to
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Education Code - EDC - EDC § 94110
Education Code - EDC - EDC § 94110
As used in this chapter, the following words and terms have the following meanings, unless the context indicates or requires another or different meaning or intent: (a) “Authority” means the California Educational Facilities Authority created by this chapter or any board, body, c
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Education Code - EDC - EDC § 94120
Education Code - EDC - EDC § 94120
(a) There is in the state government an authority known as the California Educational Facilities Authority. The authority constitutes a public instrumentality and the exercise by the authority of the powers conferred by this chapter shall be deemed and held to be the performance
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Education Code - EDC - EDC § 94121
Education Code - EDC - EDC § 94121
The powers of the authority shall be vested in the members thereof in office from time to time and a majority of the total authorized membership of the authority shall constitute a quorum at any meeting thereof. Action may be taken and motions and resolutions adopted by the autho
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Education Code - EDC - EDC § 94123
Education Code - EDC - EDC § 94123
Notwithstanding any other provision of law neither of the following is a conflict of interest: (a) Service by a trustee, director, officer, or employee of a participating private college, public college, or public university as a member of the authority, provided that the trustee
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Education Code - EDC - EDC § 94124
Education Code - EDC - EDC § 94124
The authority shall maintain an office in the City of Sacramento.
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Education Code - EDC - EDC § 94125
Education Code - EDC - EDC § 94125
The authority may employ an executive director and such other persons as are necessary to enable it properly to perform the duties imposed upon it by this chapter. The authority may, by resolution, delegate to one or more of its members, its executive director, or any other offic
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Education Code - EDC - EDC § 94140
Education Code - EDC - EDC § 94140
The authority shall have power to do all of the following: (a) Adopt bylaws for the regulation of its affairs and the conduct of its business. (b) Adopt and have an official common seal and alter it at pleasure. (c) Sue and be sued in its own name, and plead and be impleaded. (d)
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Education Code - EDC - EDC § 94141
Education Code - EDC - EDC § 94141
All expenses incurred in carrying out the provisions of this chapter shall be payable from funds provided the authority therefor, and no liability or obligation shall be incurred by the authority hereunder beyond the extent to which moneys shall have been provided therefor.
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Education Code - EDC - EDC § 94142
Education Code - EDC - EDC § 94142
The authority shall establish financial eligibility standards by studying the creditworthiness and earning capacity of each project together with the amount of pledged revenues, debt service coverage, and basic security, in addition to establishing machinery to monitor the ongoin
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Education Code - EDC - EDC § 94143
Education Code - EDC - EDC § 94143
The authority is authorized from time to time to issue its notes for any corporate purpose and renew from time to time any notes by the issuance of new notes, whether the notes to be renewed have or have not matured. The authority may issue notes partly to renew notes or to disch
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Education Code - EDC - EDC § 94144
Education Code - EDC - EDC § 94144
(a) The authority is authorized from time to time to issue its bonds for any corporate purpose. In anticipation of the sale of the bonds, the authority may issue bond anticipation notes and may renew the bond anticipation notes from time to time. The bond anticipation notes shall
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Education Code - EDC - EDC § 94145
Education Code - EDC - EDC § 94145
In the discretion of the authority, any bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the authority and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company within or wi
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Education Code - EDC - EDC § 94145.5
Education Code - EDC - EDC § 94145.5
A provision that the authority may include in a trust agreement or resolution providing for the issuance of bonds pursuant to this chapter may also be included in a bond and shall have the same effect.
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Education Code - EDC - EDC § 94146
Education Code - EDC - EDC § 94146
(a) Bonds issued under this chapter shall not be deemed to constitute a debt or liability of the state or of any political subdivision of the state, or a pledge of the faith and credit of the state or of any political subdivision other than the authority, but shall be payable sol
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Education Code - EDC - EDC § 94147
Education Code - EDC - EDC § 94147
(a) The authority may fix, revise, charge, and collect rates, rents, fees, and charges for the use of and for the services furnished or to be furnished by each project, and may contract with any person, partnership, association or corporation, or other body, public or private, in
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Education Code - EDC - EDC § 94148
Education Code - EDC - EDC § 94148
Any holder of bonds issued under the provisions of this chapter or any of the coupons appertaining thereto, and the trustee or trustees under any trust agreement, except to the extent the rights herein given may be restricted by any resolution authorizing the issuance of, or any
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Education Code - EDC - EDC § 94149
Education Code - EDC - EDC § 94149
All moneys received pursuant to the authority of this chapter, whether as proceeds from selling or incurring bonds, or as revenue, shall be deemed to be trust funds to be held and applied solely as provided in this chapter. Notwithstanding any other law, until the funds are appli
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Education Code - EDC - EDC § 94150
Education Code - EDC - EDC § 94150
(a) The authority may issue bonds of the authority for the purpose of refunding any bonds or notes of the authority then outstanding, including the payment of any redemption premium thereon and any interest accrued or to accrue to the earliest date of redemption or subsequent dat
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Education Code - EDC - EDC § 94151
Education Code - EDC - EDC § 94151
(a) The authority may loan funds to a participating institution or university applicant and to provide for the issuance of bonds for the purpose of refinancing working capital or projects not originally funded pursuant to this chapter, such refinancing to include the repayment of
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Education Code - EDC - EDC § 94152
Education Code - EDC - EDC § 94152
Bonds and notes issued by the authority under the provisions of this chapter are hereby made securities in which all banks, bankers, savings banks, trust companies, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance
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Education Code - EDC - EDC § 94154
Education Code - EDC - EDC § 94154
The State of California pledges and agrees with the holders of the bonds, notes, and other obligations issued pursuant to authority contained in this chapter, and with those parties who may enter into contracts with the authority pursuant to this chapter, that the state will not
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Education Code - EDC - EDC § 94155
Education Code - EDC - EDC § 94155
On or before March 31 in each year the authority shall make an annual report of its activities for the preceding calendar year to the Governor and the Legislature. Each such report shall set forth a complete operating and financial statement covering the authority’s operations du