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Education Code - EDC - EDC § 17174
Education Code - EDC - EDC § 17174
(a) The authority shall be comprised of the following members: (1) The Treasurer, who shall serve as chairperson. (2) The Director of the State Department of Finance. (3) The Superintendent of Public Instruction. (b) Each member of the authority may designate an individual from t
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Education Code - EDC - EDC § 17175
Education Code - EDC - EDC § 17175
(a) Upon the first appointment of its members, and thereafter on or after March 31 of each year, the authority shall elect from its members a vice chairperson and a secretary-treasurer, who shall hold office until the following March 31, and shall continue to serve until their su
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Education Code - EDC - EDC § 17176
Education Code - EDC - EDC § 17176
(a) Except as otherwise provided by subdivision (b), the Attorney General shall be the legal counsel for the authority. (b) Upon the approval of the Attorney General, which shall not be unreasonably withheld, the authority may employ legal counsel as, in its judgment, is necessar
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Education Code - EDC - EDC § 17177
Education Code - EDC - EDC § 17177
The executive director or other person designated by resolution of the authority shall maintain a record of the proceedings of the authority, and shall be custodian of all books, documents, and papers filed with the authority, the minute book or journal of the authority, and its
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Education Code - EDC - EDC § 17178
Education Code - EDC - EDC § 17178
Two members of the authority shall constitute a quorum. The affirmative vote of a majority of a quorum shall be necessary for any action taken by the authority. A vacancy in the membership of the authority shall not impair the right of a quorum to exercise all the rights and perf
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Education Code - EDC - EDC § 17179
Education Code - EDC - EDC § 17179
The provisions of this chapter shall be administered by the authority, which shall have and is hereby vested with all powers reasonably necessary to carry out the powers and responsibilities expressly granted or imposed under this chapter.
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Education Code - EDC - EDC § 17180
Education Code - EDC - EDC § 17180
The authority is hereby authorized to do all of the following: (a) Adopt bylaws for the regulation of its affairs and the conduct of its business. (b) Adopt an official seal. (c) Sue and be sued in its own name. (d) Receive and accept gifts, grants, or donations of money for any
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Education Code - EDC - EDC § 17180.5
Education Code - EDC - EDC § 17180.5
(a) In addition to the powers authorized pursuant to Section 17180, the authority shall perform its duties under the Charter School Facilities Program to provide funding for facilities for charter school pupils as set forth in Article 12 (commencing with Section 17078.50) of Chap
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Education Code - EDC - EDC § 17181
Education Code - EDC - EDC § 17181
(a) The California School Finance Authority Fund is hereby created in the State Treasury, to be administered by the authority. Notwithstanding Section 13340 of the Government Code, all moneys in the fund shall be continuously appropriated without regard to fiscal year for the pur
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Education Code - EDC - EDC § 17182
Education Code - EDC - EDC § 17182
(a) Except as otherwise provided in subdivision (b), all expenses incurred by the authority in implementing this chapter shall be payable solely from funds appropriated for purposes of this chapter, and the authority shall not incur liabilities in excess of the amount of those fu
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Education Code - EDC - EDC § 17183
Education Code - EDC - EDC § 17183
(a) From time to time, the authority, by resolution, may issue its revenue bonds in order to provide funds for any of the purposes of this chapter. Bonds may be issued to finance or refinance any of the following: (1) A single project or financing of working capital for a single
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Education Code - EDC - EDC § 17183.5
Education Code - EDC - EDC § 17183.5
In enacting this chapter, it is the intent of the Legislature to provide financing only for projects demonstrated by the participating party to be financially feasible. In demonstrating financial feasibility, the participating party may take into account all of its funds, and may
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Education Code - EDC - EDC § 17184
Education Code - EDC - EDC § 17184
(a) In the discretion of the authority, any revenue bonds of the authority issued under this chapter may be secured by a trust agreement, or by indenture by and between the authority and a corporate trustee or trustees, including the Treasurer or any trust company or bank having
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Education Code - EDC - EDC § 17185
Education Code - EDC - EDC § 17185
(a) Notwithstanding any other provision of law, revenue bonds issued under this chapter are not and shall not be deemed to constitute a debt or liability of the state, or any political subdivision thereof, and are not and shall not be deemed to be a pledge of the faith and credit
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Education Code - EDC - EDC § 17186
Education Code - EDC - EDC § 17186
(a) Any holder of revenue bonds issued under this chapter, or any coupons appertaining thereto, or the trustee or trustees under any trust agreement, indenture, or resolution, may, either at law or in equity, by suit, action, mandamus, or other proceedings, protect and enforce an
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Education Code - EDC - EDC § 17187
Education Code - EDC - EDC § 17187
All moneys received under this chapter, whether received as proceeds from the sale of revenue bonds or as revenues, are trust funds to be held and applied solely as provided in this chapter. Any officer, bank, or trust company with whom those moneys have been deposited, shall act
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Education Code - EDC - EDC § 17188
Education Code - EDC - EDC § 17188
(a) The authority may provide for the issuance of the revenue bonds of the authority for the purpose of refunding any bonds, or any series or issue of the revenue bonds of the authority then outstanding, and may include the payment of any redemption premium for those bonds and an
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Education Code - EDC - EDC § 17189
Education Code - EDC - EDC § 17189
(a) Revenue bonds issued by the authority under this chapter shall be designated as securities in which all banks, bankers, savings banks, trust companies, and other persons engaged in a banking business; all insurance companies, insurance associations, and other persons carrying
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Education Code - EDC - EDC § 17190
Education Code - EDC - EDC § 17190
(a) Any bonds issued under this chapter, their transfer, and income therefrom shall at all times be free from taxation of every kind by the state and by all political subdivisions of the state. (b) The authority is not required to pay any taxes or assessments upon, or with respec
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Education Code - EDC - EDC § 17191
Education Code - EDC - EDC § 17191
(a) The State of California pledges and agrees with the holders of the bonds issued pursuant to this chapter, and with those parties who may enter into contracts with the authority pursuant to the provisions of this chapter, that the state will not limit, alter, or restrict the r
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Education Code - EDC - EDC § 17192
Education Code - EDC - EDC § 17192
(a) Pledges by or to the authority of revenues, moneys, accounts, accounts receivable, contract rights, or other rights to payment of any other kind made by or to the authority pursuant to this chapter shall be valid and binding from the time the pledge is made for the benefit of
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Education Code - EDC - EDC § 17193
Education Code - EDC - EDC § 17193
(a) The authority shall fix, revise, charge, and collect rents for the use of each project owned by the authority, and may contract with any person, partnership, association, corporation, or other body, whether public or private, for that purpose. Any lease entered into by the au
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Education Code - EDC - EDC § 17194
Education Code - EDC - EDC § 17194
The authority may authorize any participating party to act as its agent in the performance of acts specifically approved by the authority, and all acts required under Article 3 (commencing with Section 17280) of Chapter 3 of Part 10.5. The authorizations may include, but are not
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Education Code - EDC - EDC § 17195
Education Code - EDC - EDC § 17195
Whenever the principal and interest on bonds issued by the authority to finance the cost of a project or working capital, or to refinance the outstanding indebtedness of one or more participating parties, including any refunding bonds issued to refund and refinance those bonds, h
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Education Code - EDC - EDC § 17196
Education Code - EDC - EDC § 17196
(a) This chapter shall be deemed to provide a complete, additional, and alternative method for accomplishing the acts authorized in this chapter, and shall be deemed as being supplemental and additional to the powers conferred by other applicable laws, except that the issuance of