Section 53528.
53528. For the purposes of carrying out this part, the Director of Finance may authorize the withdrawal from the General Fund of an amount or amounts not to exceed the amount of the unsold bonds that have been authorized by the committee to be sold for the purpose of carrying out this part. Any amounts […]
Section 53529.
53529. Notwithstanding any other provision of this part, or of the State General Obligation Bond Law, if the Treasurer sells bonds pursuant to this part that include a bond counsel opinion to the effect that the interest on the bonds is excluded from gross income for federal tax purposes under designated conditions, the Treasurer may […]
Section 53530.
53530. The board may request the Pooled Money Investment Board to make a loan from the Pooled Money Investment Account, in accordance with Section 16312 of the Government Code, for the purposes of carrying out this part. The amount of the request shall not exceed the amount of unsold bonds that the committee has by […]
Section 53531.
53531. All money deposited in the fund that is derived from premiums and accrued interest on bonds sold shall be reserved in the fund and shall be available for transfer to the General Fund as a credit to expenditures for bond interest. (Added by Stats. 2002, Ch. 26, Sec. 8. Approved in Proposition 46 at […]
Section 53532.
53532. The Legislature hereby finds and declares that, inasmuch as the proceeds from the sale of bonds authorized by this part are not “proceeds of taxes” as that term is used in Article XIII B of the California Constitution, the disbursement of these proceeds is not subject to the limitations imposed by that article. (Added by […]
Section 53533.
53533. (a) Moneys deposited in the fund from the sale of bonds pursuant to this part shall be allocated for expenditure in accordance with the following schedule: (1) Nine hundred ten million dollars ($910,000,000) shall be transferred to the Housing Rehabilitation Loan Fund to be expended for the Multifamily Housing Program authorized by Chapter 6.7 (commencing with […]
Section 53534.
53534. (a) The Legislature finds and declares all of the following: (1) The projected budget deficit for the 2003–04 fiscal year represents the largest fiscal imbalance in California history. This imbalance necessitates drastic actions not ordinarily contemplated in usual budget years. (2) In order to address the budgetary imbalance it is necessary to find and […]
Section 53500.
53500. This part shall be known and may be cited as the Housing and Emergency Shelter Trust Fund Act of 2002. (Added by Stats. 2002, Ch. 26, Sec. 8. Approved in Proposition 46 at the November 5, 2002, election.)
Section 53501.
53501. As used in this part, the following terms have the following meanings: (a) “Committee” means the Housing Finance Committee created pursuant to Section 53524. (b) “Fund” means the Housing and Emergency Shelter Trust Fund created pursuant to Section 53520. (Added by Stats. 2002, Ch. 26, Sec. 8. Approved in Proposition 46 at the November 5, 2002, […]
Section 53520.
53520. The proceeds of bonds issued and sold pursuant to this part shall be deposited in the Housing and Emergency Shelter Trust Fund, which is hereby created. Money in the fund shall be allocated and utilized in accordance with Chapter 4 (commencing with Section 53533). (Added by Stats. 2002, Ch. 26, Sec. 8. Approved in […]