Section 55821.
55821. If any provision of this chapter or the application thereof to any person or circumstance is held invalid, that invalidity shall not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable. (Added by […]
Section 55813.
55813. (a) The authority may provide for the issuance, sale, or exchange of refunding bonds to redeem or retire any bonds issued by the authority upon the terms, at the times and in the manner which it determines. (b) The proceeds of any bonds issued for the purpose of refunding outstanding bonds may, in the discretion of […]
Section 55814.
55814. Refunding bonds may be issued in a principal amount sufficient to pay all, or any part of, the principal of the outstanding bonds, the premiums, if any, due upon call and redemption thereof prior to maturity, all expenses of the refunding, and either of the following: (a) The interest upon the refunding bonds from the […]
Section 55815.
55815. (a) The authority may borrow money in anticipation of the sale of bonds which have been authorized pursuant to this chapter, but which have not been sold or delivered, and may issue negotiable bond anticipation notes therefor and may renew the bond anticipation notes from time to time. However, the maximum maturity of any bond […]
Section 55816.
55816. Any limited tax bonds issued pursuant to this chapter are a legal investment for all trust funds, for the funds of insurance companies, commercial and savings banks, and trust companies, and for state school funds. Whenever any money or funds may, by any law now or hereafter enacted, be invested in bonds of cities, […]
Section 55800.
55800. (a) (1) As part of the ballot proposition to approve the imposition of a retail transactions and use tax pursuant to Chapter 2 (commencing with Section 7285) of Part 1.7 of Division 2 of the Revenue and Taxation Code, an authority established pursuant to Section 7285.5 of the Revenue and Taxation Code may seek authorization to […]
Section 55817.
55817. Notwithstanding any other provision of law: (a) The authority and its revenues are exempt from all taxes on, or measured by, income. (b) Bonds issued by the authority are exempt from all property taxation, and the interest on the bonds is exempt from all taxes on income. (c) All property owned by the agency is exempt from […]
Section 55802.
55802. (a) The bonds authorized by the voters pursuant to Section 55800 may be issued at any time by the authority and shall be payable from the proceeds of the tax. The bonds shall be referred to as “limited tax bonds.” The bonds may be secured by a pledge of revenues from the proceeds of the […]
Section 55818.
55818. (a) Bonds issued pursuant to this chapter do not constitute a debt or liability of the state or of any other public agency, other than the authority issuing the bonds, or a pledge of the faith and credit of the state or of any other public agency, other than the issuing authority, but shall be […]
Section 55803.
55803. Limited tax bonds issued under this chapter may be used only for the following purposes: (a) To finance the capital outlay expenditures to carry out the purposes of the retail transactions and use tax imposed by the authority. (b) To pay costs incurred in the issuance of the limited tax bonds. (c) To fund a reserve fund […]