California Government Code ARTICLE 2 - Industrial Development Authorities

• Section 91520.
  (a) There is in each public agency a public, corporate instrumentality of the State of California, known as the industrial development authority of the public agency....
• Section 91521.
  (a) The sole purpose of an authority is to undertake projects through the issuance of bonds in accomplishment of the purposes provided in Section 91502, and...
• Section 91522.
  (a) All powers vested in authorities shall be exercisable as their respective boards shall provide, solely in the accomplishment of the purposes of authorities.(b) A board shall...
• Section 91523.
  As an alternate to the appointment of directors pursuant to Section 91522, the governing body may, at its sole discretion and at any time regardless...
• Section 91524.
  (a) The principal office of an authority shall be located at the principal office of the public agency.(b) Each authority shall have a chairperson of its board,...
• Section 91525.
  (a) An authority may appoint such employees and agents, including without limitation financial advisers or consultants, accountants, architects, engineers, or other experts or advisers as it...
• Section 91525.5.
  A member of the board or other officer of an authority or a member of the governing body who has any financial interest, other than...
• Section 91526.
  An authority may:(a) Sue and be sued in its own name.(b) Have an official seal.(c) Have perpetual succession.(d) Make and execute contracts and other instruments and documents.(e) Make, amend, and...
• Section 91527.
  Authorities shall have all powers necessary or appropriate for carrying out the purposes of this title including, without limitation, the following powers, together with all...
• Section 91528.
  An authority shall not have the power to operate any facility as a business, except in the event of a default on any bonds, through...
• Section 91529.
  Companies may apply for financing pursuant to this article by filing with an authority an application therefor which includes all of the following:(a) Such financial, legal,...
• Section 91530.
  (a) Applications for projects or companies not in accordance with the reasonable priorities and criteria that an authority may establish need not be accepted and further...
• Section 91531.
  (a) At any time following adoption of the resolution of intention, the board shall request that the commission make the determinations authorized by this section and...
• Section 91532.
  (a) The commission may provide, by regulation, that at the option of an authority, the commission will make determinations pursuant to subdivision (b) of Section 91531...
• Section 91533.
  Authorities shall undertake projects by entry into project agreements in substance not inconsistent with the following:(a) The company shall comply with (or cause to be complied...
• Section 91534.
  No company shall, by reason of any project agreement, be deemed the agent of an authority in the carrying out of such agreement unless (and...
• Section 91535.
  (a) All bonds issued by an authority in connection with a project shall be special obligations, only, of the authority, payable solely out of the revenues...
• Section 91536.
  In the discretion of an authority, any bonds issued under the provisions of this title may be secured by an indenture. Such indenture may vest...
• Section 91537.
  The issuance of bonds shall be authorized by resolution of the board adopted at any time following the determinations provided for in subdivision (j) of...
• Section 91537.5.
  The bonds may bear interest on the amount or amounts, payable at the time or times, evidenced in the manner and at the fixed or...
• Section 91538.
  Bonds may be sold at the prices that the board directs, at public or private sale, subject to subdivision (b) of Section 91535.(Amended by Stats....
• Section 91539.
  Notwithstanding any other provision of law:(a) Authorities and their revenues, amounts for administration or costs of issuance expenses, and any other income shall be exempt from...
• Section 91540.
  (a) All property, revenues, and funds, owned or possessed by an authority for the purposes of this title, shall be exempt from levy and sale by...
• Section 91541.
  (a) None of the bonds of an authority or any other obligations of an authority shall be deemed to constitute a debt or liability of the...
• Section 91542.
  At such time as all obligations under the project agreements respecting any particular project have been satisfied or otherwise discharged or adequately provided for and...
• Section 91543.
  All general or special laws or parts thereof inconsistent with this title shall be inapplicable to the exercise of any of the powers conferred under...
• Section 91544.
  (a) Whenever the governing body, by ordinance, shall declare that there is no longer a need for an authority to, and that the authority shall not...
• Section 91545.
  Any action pursuant to Section 91544 shall have no effect on, and shall not be deemed to impair, any contracts previously entered into by an...
• Section 91546.
  This title, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect its purposes.(Added by Stats. 1980, Ch.
• Section 91547.
  The State of California does hereby pledge to and agree with the holders of any bonds issued, and with those companies which may enter into...
• Section 91548.
  An action may be brought pursuant to Chapter 9 (commencing with Section 860) of Part 2 of Title 10 of the Code of Civil Procedure,...
• Section 91549.
  (a) Except as may be authorized by other state legislation, this title provides the exclusive authority of public agencies for the undertaking, carrying out, and completion...

Last modified: October 22, 2018