California Education Code ARTICLE 2 - The State University Revenue Bond Act of 1947

• Section 90010.
  This article may be cited as “The State University Revenue Bond Act of 1947.”(Amended by Stats. 1985, Ch. 106, Sec. 27.)
• Section 90011.
  (a) The following terms wherever used or referred to in this article, or in any indenture entered into pursuant to this article, shall have the following...
• Section 90012.
  The board, for the purposes of this article, has power and is hereby authorized, in addition to and amplification of all other powers conferred upon...
• Section 90013.
  (a) The board may issue revenue bond anticipation notes, in anticipation of the sale of revenue bonds. Before issuing any of these notes, the board shall,...
• Section 90014.
  Notes authorized to be issued under this article shall be sold by the Treasurer, for cash, in the manner that the Treasurer shall be directed...
• Section 90015.
  The validity of the authorization and issuance of any revenue bonds or revenue bond anticipation notes by the board is not dependent on nor affected...
• Section 90016.
  The board shall issue revenue bonds and revenue bond anticipation notes in its name and as its obligation, but no bond or note issued or...
• Section 90017.
  The board shall determine the time, form, and manner of the issuance of revenue bonds and revenue bond anticipation notes.(Amended by Stats. 1988, Ch. 740,...
• Section 90018.
  The board may enter into indentures providing for the aggregate principal amount, date or dates, maturities, interest rates, denominations, form, registration, transfer and interchange of...
• Section 90019.
  An indenture pursuant to which bonds are issued may include any and all of the covenants and agreements on the part of the board as...
• Section 90020.
  An indenture may provide that payments of principal and interest of bonds shall be secured by all or by part of revenues.(Enacted by Stats. 1976,...
• Section 90021.
  An indenture may include a clause relating to the bonds issued thereunder requiring the board to pay or cause to be paid punctually the principal...
• Section 90022.
  An indenture may include a clause relating to the bonds issued thereunder, requiring the board to operate the project continuously, to the extent practicable under...
• Section 90023.
  An indenture may include a clause relating to the bonds issued thereunder requiring the board to make all necessary repairs, renewals and replacements to any...
• Section 90024.
  An indenture may include a clause relating to the bonds issued thereunder requiring the board to preserve and protect the security of the bonds and...
• Section 90025.
  An indenture may include a clause relating to the bonds issued thereunder requiring the board to pay and discharge or cause to be paid and...
• Section 90026.
  An indenture may include a clause relating to the bonds issued thereunder which limits, restricts, or prohibits any right, power or privilege of the board...
• Section 90027.
  An indenture may include a clause relating to the bonds issued thereunder requiring the board to fix, prescribe, and collect rates, rentals, or other charges...
• Section 90028.
  An indenture may include a clause relating to the bonds issued thereunder requiring the board to hold or cause to be held in trust the...
• Section 90029.
  An indenture may include a clause defining the power of the board in applying the proceeds of the sale of any issue of bonds for...
• Section 90030.
  An indenture may include a clause limiting the power of the board to issue additional bonds for the purpose of acquiring, constructing or completing any...
• Section 90031.
  An indenture may include a clause requiring, specifying or limiting the kind, amount and character of insurance to be maintained by the board on any...
• Section 90032.
  An indenture may include a clause providing the events of default and the terms and conditions upon which any or all of the bonds of...
• Section 90033.
  An indenture may include a clause designating the rights, limitations, powers and duties arising upon breach by the board of any of the covenants, conditions,...
• Section 90034.
  An indenture may include a clause prescribing a procedure by which the terms and conditions of the indenture may be subsequently amended or modified with...
• Section 90035.
  An indenture may include a clause or clauses providing for such other acts and matters as may be necessary or convenient or desirable in order...
• Section 90036.
  The State Treasurer shall act as trustee for the board and the holders of bonds issued hereunder, and the board may authorize the trustee to...
• Section 90037.
  The board shall prescribe the duties and powers of the trustee with respect to the issuance, authentication, sale and delivery of the bonds and the...
• Section 90038.
  The board may provide for one or several issues of bonds and may issue bonds in series or may divide any issue into one or...
• Section 90039.
  Bonds may be issued as coupon bonds or as registered bonds. The board may provide for the interchange of coupon bonds for registered bonds and...
• Section 90040.
  Bonds shall bear interest at a fixed or variable rate of not to exceed 12 percent per annum, payable in the time, form, and manner...
• Section 90041.
  Notwithstanding the provisions of Sections 90013, 90040, and 90048, the rate of interest which bonds or notes may bear and the yield resulting to the...
• Section 90042.
  Bonds may be callable upon any terms, conditions, and upon any notice as the board may determine, and upon the payment of the premium as...
• Section 90043.
  The board may provide for the payment of the principal and interest of bonds at any place within or without the State of California, and...
• Section 90044.
  The board may provide for the execution and authentication of bonds and notes by the manual, lithographed or printed facsimile signature of officers of the...
• Section 90045.
  Bonds shall bear dates prescribed by the board. Bonds may be serial bonds or sinking fund bonds with those maturities as the board may determine....
• Section 90046.
  Immediately after the adoption of a resolution by the board directing the preparation of any bonds or notes authorized under this article, the Treasurer shall...
• Section 90047.
  When the bonds authorized to be issued under this article are duly executed, they shall be sold by the Treasurer, for cash, in those parcels...
• Section 90048.
  Bonds and notes may be sold at either public or private sale. The board may fix terms and conditions for the sale or other disposition...
• Section 90049.
  The board may provide for the security of bonds. The board may use and expend all or any part of any funds or proceeds of...
• Section 90050.
  All costs and expenses incident to the issuance and sale of notes may be paid out of the proceeds of the sale of the notes....
• Section 90051.
  The board may provide that notes or bonds and the interest thereon shall be secured by all or by part of revenues of a project...
• Section 90052.
  Pending the actual issuance or delivery of revenue bonds, the board may issue temporary or interim bonds, certificates or receipts of any denomination whatsoever, and...
• Section 90053.
  The board may provide for the replacement of lost, destroyed or mutilated notes, bonds, and coupons.(Amended by Stats. 1988, Ch. 740, Sec. 25.)
• Section 90054.
  Bonds and notes issued pursuant to the provisions of this article and the interest or income therefrom are exempt from all taxation in this state...
• Section 90055.
  Notwithstanding any other provision of law, all notes and bonds hereafter sold and delivered pursuant to the provisions of this article are legal investments for...
• Section 90056.
  The board may provide for the issuance, sale, or exchange of refunding bonds for the purpose of redeeming or retiring any revenue bonds issued under...
• Section 90057.
  Funding or refunding bonds may be issued in a principal amount sufficient to provide funds for the payment of all bonds to be funded or...
• Section 90058.
  All bonds and notes issued under the provisions of this article are negotiable instruments, except when registered in the name of a registered owner.(Enacted by...
• Section 90059.
  Before issuing any bond or bonds pursuant to the provisions of this article, the board shall by resolution declare the purpose for which the proceeds...
• Section 90060.
  The board has full charge of the acquisition, construction and completion of all projects authorized by them and may proceed with such work forthwith.(Enacted by...
• Section 90061.
  The board may construct any project and acquire all property necessary therefor on such terms and conditions as it may deem advisable. When any part...
• Section 90062.
  Title to all property acquired by the board and the revenues and income therefrom is in the State of California. The title to any moneys,...
• Section 90063.
  At all times the operation, maintenance, control, repair, construction, reconstruction, alteration and improvement of any project are vested in the board subject to such authorized...
• Section 90064.
  The board may use for the payment of the costs of acquisition, construction or completion of any project any funds made available to the board...
• Section 90065.
  The board may insure against loss of revenues from any cause whatsoever and the proceeds of any insurance shall be used for the payment of...
• Section 90066.
  The board may insure against public liability or property damage. The board may provide in an indenture for the carrying of this or any other...
• Section 90067.
  When authorized by resolution of the board, as provided in this article, the State Treasurer shall prepare and procure the printing or engrossing of notes,...
• Section 90068.
  The board shall fix rents, charges and fees for all projects acquired, constructed or completed under the terms of this article for the use thereof...
• Section 90069.
  Rent, charges, and fees collected in error may be refunded by the board in accordance with regulations prescribed by the board. Refunds of rent, charges,...
• Section 90070.
  The board may include in an indenture those limitations as to competitive projects, both as to location and comparative rentals, as may be deemed necessary...
• Section 90071.
  The board may also include in an indenture a covenant that no project acquired, constructed or completed from the proceeds of revenue bonds issued under...
• Section 90072.
  The holder of any bond or note issued pursuant to this article may by mandamus or other appropriate proceeding require and compel the performance of...
• Section 90073.
  The proceeds from the sale of all bonds and notes authorized under this article, except those proceeds used to redeem outstanding bonds or notes, shall...
• Section 90074.
  To the extent and in the manner provided in the indenture or in a resolution authorizing the issuance of notes, all revenues received from the...
• Section 90075.
  For the payment of the principal and interest of the notes and bonds authorized to be issued under this article, an interest and redemption fund...
• Section 90076.
  Any balance remaining in any of the funds created by this article after payment of all costs, expenses, and charges authorized to be expended therefrom,...
• Section 90077.
  Moneys in the California State University Dormitory Construction Fund may be invested by the board subject only to limitations which may be provided in any...
• Section 90078.
  After all of the notes and revenue bonds shall have been fully paid and discharged, or provision for their payment and discharge irrevocably made, any...
• Section 90079.
  All money in the funds created by the provisions of this article is hereby appropriated for expenditure in carrying out the purposes herein provided.(Enacted by...
• Section 90080.
  The article shall be liberally construed to carry out the objects and purposes and the declared policy of the State of California as in this...
• Section 90081.
  An action may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure...
• Section 90082.
  Notwithstanding any other law, the Controller may use the moneys in the State College Dormitory Building Maintenance and Equipment Reserve Fund for loans to the...
• Section 90083.
  The board may pledge revenues received in accordance with Section 89770 to secure bonds issued in accordance with this article for capital expenditures, as defined...

Last modified: October 22, 2018