Section 6593.
6593. No member of the governing body of the authority shall be personally liable on the bonds or be subject to any personal liability or accountability by reason of the issuance of bonds. (Added by Stats. 1985, Ch. 868, Sec. 6. Effective September 23, 1985.)
Section 6594.
6594. The authority may, out of any funds available therefor, purchase its bonds. The authority may hold, pledge, cancel, or resell the bonds, subject to, and in accordance with, agreements with bondholders. (Added by Stats. 1985, Ch. 868, Sec. 6. Effective September 23, 1985.)
Section 6595.
6595. Any bonds issued under this article may be secured by a trust agreement between the authority and a corporate trustee or trustees, which may include any trust company or bank having the powers of a trust company within or without the state. (a) The trust agreement or the resolution providing for the issuance of the […]
Section 6595.3.
6595.3. (a) The authority may issue bonds for the purpose of refunding any bonds, notes, or other securities of the authority then outstanding, including the payment of any redemption premium thereon and any interest accrued, or to accrue, on their earliest or any subsequent date of redemption, purchase, or maturity of these bonds. The authority may […]
Section 6595.5.
6595.5. Bonds issued by the authority are legal investments for all trust funds, the funds of all insurance companies, banks, both commercial and savings, trust companies, executors, administrators, trustees, and other fiduciaries, for state school funds, and for any funds which may be invested in county, municipal, or school district bonds. These bonds are securities […]
Section 6595.7.
6595.7. (a) The authority is not required to pay any property taxes or assessments upon, or with respect to, any public capital improvement or any property acquired by, or for, the authority under this article, or upon the income therefrom, so long as the authority holds title to the public capital improvement or to the property […]
Section 6596.
6596. The State of California does hereby pledge to, and agrees with, the holders of any bonds issued under this article, and with those parties who may enter into contracts with the authority pursuant to this article, that the state will not limit or alter the rights hereby vested in the authority to finance any […]
Section 6597.
6597. All public capital improvements financed by the authority shall pay interest within a reasonable time after the authority receives revenues or proceeds from bonds as provided under this article. (Added by Stats. 1985, Ch. 868, Sec. 6. Effective September 23, 1985.)
Section 6597.5.
6597.5. All public capital improvements financed by the authority shall be constructed or completed subject to the rules and regulations of the authority. When the principal of, and interest on, bonds of the authority issued to finance the cost of a particular public capital improvement, including any refunding bonds issued to refund and refinance all, […]
Section 6598.
6598. Interest earned on any bonds issued by the authority shall at all times be free from state personal income tax and corporate income tax. (Added by Stats. 1985, Ch. 868, Sec. 6. Effective September 23, 1985.)