California Education Code CHAPTER 18 - California School Finance Authority

• Section 17170.
  This chapter shall be known and may be cited as the California School Finance Authority Act.(Added by Stats. 1996, Ch. 277, Sec. 2. Effective January...
• Section 17171.
  The Legislature hereby finds and declares that it is in the interest of the state and its people for the state to do all of...
• Section 17172.
  There is in the state government the California School Finance Authority. The authority is a public instrumentality, and the exercise by the authority of the...
• Section 17173.
  As used in this chapter, the following words and terms shall have the following meanings, unless the context indicates or requires another or different meaning...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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,...
• Section 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...
• Section 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...
• Section 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...
• Section 17197.
  To the extent that the provisions of this chapter are inconsistent with any other provisions of any general statute, or a special act or parts...
• Section 17198.
  Any net earnings of the authority beyond that necessary for the retirement of any obligations issued by the authority, or to implement the purposes of...
• Section 17199.
  Upon the dissolution of the authority, title to all property owned by the authority shall vest in the successor authority created by the Legislature, if...
• Section 17199.1.
  (a) Any participating party, exclusively for the purpose of securing financing or refinancing of projects or working capital pursuant to this chapter through the issuance, by...
• Section 17199.2.
  An action may be commenced under Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure to...
• Section 17199.3.
  (a) The total amount of revenue bonds that may be issued and outstanding at any time for purposes of this chapter shall not exceed four billion...
• Section 17199.4.
  (a) Notwithstanding any other law, any participating party, in connection with securing financing or refinancing of projects, or working capital pursuant to this chapter, may, in...
• Section 17199.5.
  Notwithstanding Section 17199.4, if the bonds were subject to a credit enhancement agreement provided by a public credit provider pursuant to Section 17193.5 for which...
• Section 17199.6.
  The authority is delegated exclusive control over the use and allocation of the volume cap described in Section 142(k) of the federal Internal Revenue Code,...

Last modified: October 22, 2018