reglab/housing_qa huggingface dataset:
CA Govt Code § 16773 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 4 - State General Obligation Bonds|ARTICLE 5 - Payment, Cancellation, and Redemption of Bonds|Section 16773.

16773.  (a) Whenever any payment of principal of any bonds shall become due, either upon the maturity of any of the bonds or upon the redemption thereof prior to maturity, and whenever any interest on any of the bonds shall fall due, warrants shall be drawn against the appropriation made by the bond act from the General Fund by the Controller in favor of the Treasurer, or state fiscal agents, or other duly authorized agents, pursuant to claims filed with the Controller by the Treasurer, in the amounts so falling due.(b) For any payments of debt service, as defined in subdivision (c) of Section 998.404 of the Military and Veterans Code, with respect to any bonds issued pursuant to a veterans’ farm and home purchase bond act adopted pursuant to Chapter 6 (commencing with Section 980) of Division 4 of the Military and Veterans Code, the Controller shall first draw warrants against the appropriation from the Veterans’ Bonds Payment Fund in Section 988.6 of the Military and Veterans Code, and, to the extent moneys in that fund are insufficient to pay the amount of debt service then due, shall draw warrants against the appropriation made by the bond act from the General Fund for payment of any remaining amount then due.(c) (1) For any payments of debt service, as defined in paragraph (4) of subdivision (a) of Section 16965, with respect to any designated bonds issued pursuant to Proposition 1B, the Controller shall first draw warrants against the appropriation from the Transportation Bond Direct Payment Account of the Transportation Debt Service Fund created by subdivision (a) of Section 16965, and, to the extent moneys in that account are insufficient to pay the amount of debt service then due, shall draw warrants from the General Fund for payment of any remaining amount then due against such appropriation as may be available therefor, including the appropriation made by Proposition 1B.(2) (A) For purposes of this subdivision and Section 16965, “Proposition 1B” means the Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006 (Chapter 12.49 (commencing with Section 8879.20) of Division 1).(B) For purposes of this subdivision, Section 16965, and Section 9400.4 of the Vehicle Code, the term “designated bond” means any designated bond under Proposition 1B, and the term “nondesignated bond” means any bond issued under Proposition 1B, whether issued before or after the enactment of the act adding this subdivision, that is not a designated bond. For purposes of this subdivision, a “designated bond” is an issue of bonds (including refunding bonds) under Proposition 1B that has been designated by the Treasurer upon or prior to its issuance, with the approval of the related finance committee, to be paid pursuant to paragraph (1).(Amended by Stats. 2013, Ch. 35, Sec. 3. (SB 85) Effective June 27, 2013.)
CA Govt Code § 16774 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 4 - State General Obligation Bonds|ARTICLE 5 - Payment, Cancellation, and Redemption of Bonds|Section 16774.

16774.  (a) If the committee determines that any bonds then outstanding, including bonds that by their terms are subject to redemption prior to maturity, should be redeemed or retired prior to maturity, and that money sufficient for that redemption or retirement will be available in the fund or the General Fund at the time proposed for the redemption or retirement, it may, by resolution, direct the Treasurer to call and redeem or retire any of these bonds, at a time specified in the resolution, and the Treasurer shall thereupon either give notice of the proposed redemption and redeem the bonds in accordance with the provisions for redemption provided for in the resolution adopted under Section 16731 pursuant to which the bonds were issued or arrange for the purchase and retirement of the bonds.(b) Money sufficient for the redemption or retirement shall be determined to be available in the General Fund if the Treasurer certifies that either the issuance of refunding bonds under Article 6 (commencing with Section 16780) or the deferral of the planned payment of principal on outstanding bonds has reduced the principal payments required to be made from the General Fund on outstanding bonds during the current fiscal year by an amount equal to, or in excess of, the money required for the redemption or retirement.(c) Money so determined to be sufficient for the redemption or retirement of bonds and available for that purpose shall be transferred from the General Fund to a separate account within the Refunding Escrow Fund created by Section 16784. Notwithstanding Section 13340, money in that account is continuously appropriated without regard to fiscal years for the purposes of this section. Funds in that account shall be held in trust for the benefit of the holders of the bonds which are to be redeemed or retired and used only for the payment of the principal of, and interest and any redemption premium on, or the purchase price of, the bonds which are to be redeemed or retired. Money in the account shall be invested by the Treasurer and any income from that investment shall be credited to the account. Any funds remaining in the account after all of the bonds are redeemed or retired shall be transferred to the General Fund.(Amended by Stats. 2001, Ch. 97, Sec. 8. Effective July 24, 2001.)
CA Govt Code § 16780 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 4 - State General Obligation Bonds|ARTICLE 6 - Refunding Bonds|Section 16780.

16780.  (a) The committee may provide for the issuance and sale or exchange of refunding bonds for the purpose of redeeming, retiring, or purchasing for retirement, outstanding bonds at or before their maturity, if the committee determines that refunding is necessary or advisable in order to do either of the following:(1) To effect a favorable reorganization of the debt structure of the state.(2) To effect a saving in debt service cost to the state, as measured by the present value of that saving.(b) When determining debt service savings for purposes of paragraph (2) of subdivision (a), the committee shall include, as interest on a refunded bond, the interest, if any, that will result from a related hedging contract, as described in subparagraph (A) of paragraph (2) of subdivision (d) of Section 16731. The committee may, when determining debt service savings, for purposes of paragraph (2) of subdivision (a), base the interest of a refunding bond upon the effective fixed interest rate under a hedging contract described in clause (ii) of subparagraph (B) of paragraph (1) of subdivision (d) of Section 16731.(Amended by Stats. 2009, Ch. 205, Sec. 14. (SB 826) Effective January 1, 2010.)
CA Govt Code § 16781 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 4 - State General Obligation Bonds|ARTICLE 6 - Refunding Bonds|Section 16781.

16781.  (a) Except as otherwise provided in this article or in subdivision (b), all of the provisions of this chapter are applicable to the issuance and sale of refunding bonds.(b) (1) Sections 16730 and 16757 are not applicable to the issuance and sale of refunding bonds.(2) Notwithstanding Section 16754.3, refunding bonds may be sold by negotiated sale if the Treasurer determines that it is in the best interest of the state to do so.(Amended by Stats. 1999, Ch. 522, Sec. 4. Effective January 1, 2000.)
CA Govt Code § 16781.5 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 4 - State General Obligation Bonds|ARTICLE 6 - Refunding Bonds|Section 16781.5.

16781.5.  Notwithstanding any other provision of this article, the renewal and reissuance from time to time of commercial paper notes within the amount and time of a program authorized by the committee pursuant to Section 16731.6 shall be considered a refunding of the amount of the commercial paper notes maturing from time to time that complies with this article.(Added by Stats. 1995, Ch. 697, Sec. 4. Effective October 10, 1995.)
CA Govt Code § 16782 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 4 - State General Obligation Bonds|ARTICLE 6 - Refunding Bonds|Section 16782.

16782.  (a) Refunding bonds may be issued in a principal amount sufficient to provide funds, either directly or by the purchase of nonredeemable securities, the principal and interest on which shall provide funds for the payment of any or all of the following:(1) The principal of or purchase price of the bonds to be refunded by the refunding bonds.(2) All expenses incident to the calling, retiring, purchasing, or paying of the outstanding bonds and the issuance of the refunding bonds, including any excess of the par value of the refunding bonds over the selling price thereof.(3) Interest upon the refunding bonds from the date of sale to the date of payment of the bonds to be refunded, whether at maturity, pursuant to the call thereof or pursuant to any agreement with the holders thereof.(4) Any premium necessary in the calling, retiring, or purchase of the outstanding bonds.(5) The interest accruing on the outstanding bonds to the date of their call, retirement, or purchase.(6) Subject to the limitation on those payments contained in subparagraph (A) of paragraph (2) of subdivision (d) of Section 16731, any termination payment owed by the state after offset for any payments made to the state pursuant to any hedging contract that was entered into in connection with the bonds to be refunded.Refunding bonds may be exchanged at not less than their par value and accrued interest for outstanding bonds to be refunded thereby, and this chapter with respect to the sale of bonds does not apply to that exchange.(b) Notwithstanding subdivision (a), the principal amount of any issue of refunding bonds shall not exceed the original aggregate principal amount of the series of bonds to be refunded. If there remains authorized but unissued bonds under the original bond act for the program which was funded by the series of bonds to be refunded, the principal amount of refunding bonds above the original aggregate principal amount of bonds to be refunded shall be charged against such unused authorization.(Amended by Stats. 2006, Ch. 640, Sec. 7. Effective September 29, 2006.)
CA Govt Code § 16783 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 4 - State General Obligation Bonds|ARTICLE 6 - Refunding Bonds|Section 16783.

16783.  Refunding bonds may be issued before the first date upon which the bonds being refunded are subject to call or redemption. The final maturity date of any refunding bonds shall not be later than the final maturity date of the series of bonds being refunded.(Added by Stats. 1987, Ch. 1030, Sec. 3.)
CA Govt Code § 16784 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 4 - State General Obligation Bonds|ARTICLE 6 - Refunding Bonds|Section 16784.

16784.  The Refunding Escrow Fund is hereby created as a special fund in the State Treasury and is continuously appropriated for the purposes of this section. The proceeds of each sale of refunding bonds and any other available moneys shall be (1) set aside in a separate account within the Refunding Escrow Fund, (2) held in trust for the benefit of the holders of either or both of the bonds which are to be refunded or of the refunding bonds as provided in the resolution of the committee authorizing the issuance of the refunding bonds, (3) used only for the payment of the principal of, and interest and any redemption premium on, or the purchase price of the refunded bonds for the payment of interest on the refunding bonds up to the date of the redemption or payment of the bonds to be refunded, and (4) for the other purposes set forth in Section 16782. Moneys in each separate account shall be invested by the Treasurer in accordance with the resolution of the committee providing for the issuance of the refunding bonds, and any income from that investment shall be credited to the account from which the investment was made.(Amended by Stats. 2006, Ch. 640, Sec. 8. Effective September 29, 2006.)
CA Govt Code § 16785 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 4 - State General Obligation Bonds|ARTICLE 6 - Refunding Bonds|Section 16785.

16785.  Refunding bonds shall be valid and binding obligations of the State of California, and the full faith and credit of the State of California shall be pledged for the punctual payment of the principal of and interest on the bonds as the principal and interest become due and payable.(Added by Stats. 1987, Ch. 1030, Sec. 3.)
CA Govt Code § 16786 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 4 - State General Obligation Bonds|ARTICLE 6 - Refunding Bonds|Section 16786.

16786.  This article applies only to the refunding of bonds authorized at a statewide election held after the effective date of this article pursuant to a bond act expressly mentioning the right of the state to refund the bonds so authorized. In any such bond act, the provisions included therein pursuant to subdivisions (c), (d), (e), and (f) of Section 16724 apply to refunding bonds to the same extent and in the same manner as those provisions applied to the bonds being refunded.(Added by Stats. 1987, Ch. 1030, Sec. 3.)
CA Govt Code § 16787 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 4 - State General Obligation Bonds|ARTICLE 6 - Refunding Bonds|Section 16787.

16787.  In any report of outstanding general obligation bonds or bonded debt of the state, the Controller shall include both refunding bonds and bonds which have been refunded but not yet retired, but shall in the same report deduct either the refunded bonds, for the retirement of which sufficient moneys or securities have been deposited in the Refunding Escrow Fund, or the refunding bonds, if interest thereon is pledged to be paid from moneys or securities deposited in the Refunding Escrow Fund until the redemption or payment of the bonds to be refunded, so as to show the net total of bonds or bonded debt to be paid from the General Fund or future revenues of the state other than the income from the investment of the Refunding Escrow Fund.(Added by Stats. 1987, Ch. 1030, Sec. 3.)
CA Govt Code § 16940 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 8 - The California Pension Restructuring Bond Act of 2004|ARTICLE 1 - General Provisions|Section 16940.

16940.  This chapter shall be known and may be cited as the California Pension Restructuring Bond Act of 2004.(Added by Stats. 2004, Ch. 215, Sec. 4. Effective August 11, 2004.)
CA Govt Code § 16941 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 8 - The California Pension Restructuring Bond Act of 2004|ARTICLE 1 - General Provisions|Section 16941.

16941.  It is the intent of the Legislature, in enacting this chapter, to provide for an efficient, equitable, and economical means of satisfying certain pension obligations of the state. Bonds shall be issued pursuant to this chapter only when the Director of Finance determines that the state’s pension obligations are anticipated to be reduced as a result of changes in the Public Employees’ Retirement Law that reduce contributions to the Public Employees’ Retirement System, and it is in the best interest of the state to issue bonds pursuant to this chapter to accelerate a portion of the state’s anticipated lower pension obligations.(Added by Stats. 2004, Ch. 215, Sec. 4. Effective August 11, 2004.)
CA Govt Code § 16942 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 8 - The California Pension Restructuring Bond Act of 2004|ARTICLE 1 - General Provisions|Section 16942.

16942.  The Legislature hereby finds and declares that the state’s obligation to pay its pension obligations to the Public Employees’ Retirement System in the amounts established by the Board of Administration of the Public Employees’ Retirement System, cannot be deferred by the state; that the state’s pension obligations are due and payable at predetermined times; and that the Controller is required to pay those pension obligations when they are due. The Legislature further finds that the state’s pension obligations cannot be included in an accumulated state budget deficit, as defined in Section 1.3 of Article XVI of the California Constitution. Further, the Legislature finds that its pension obligations are imposed by law, and not subject to Section 1 of Article XVI of the California Constitution and that the bonds authorized to be issued under this chapter have the same character under the Constitution as the pension obligations funded or refunded.(Added by Stats. 2004, Ch. 215, Sec. 4. Effective August 11, 2004.)
CA Govt Code § 16943 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 8 - The California Pension Restructuring Bond Act of 2004|ARTICLE 1 - General Provisions|Section 16943.

16943.  Unless the context otherwise requires, the following definitions shall govern the construction of this chapter:(a) “Ancillary obligation” means the obligation of the state under any credit enhancement or liquidity agreement, including any of the following:(1) An obligation in the form of bond insurance, a letter of credit, standby bond purchase agreement, reimbursement agreement, liquidity facility, or other similar arrangement.(2) An obligation under any remarketing agreement, auction agent agreement, broker-dealer agreement, or other agreement relating to the marketing of the bonds, interest rate or other type of swap or hedging contract.(3) An obligation under any investment agreement, forward purchase agreement, or similar structured investment contract, entered into by the committee in connection with any bonds issued under this chapter.(b) “Bonds” means any bonds, notes, bond anticipation notes, interim certificates, debentures, or other obligations or forms of indebtedness issued pursuant to this chapter.(c) “Committee” means the Pension Obligation Bond Committee established pursuant to Section 16920.(d) “Pension obligations” means the obligations of the state or any state agency to the retirement system imposed by the retirement laws in the amounts determined by the board of administration of the retirement system.(e) “Program” means the program established by this chapter under which the committee shall issue bonds for the purpose of funding or refunding pension obligations.(f) “Retirement laws” means Section 17 of Article XVI of the California Constitution and the Public Employees’ Retirement Law (Part 3 (commencing with Section 20000) of Division 5) and any other laws providing for payment to be made by the state or any state agency to the retirement system to provide retirement benefits to employees of the state or any other individuals for which the state has an obligation to pay all or a portion of the contributions to the retirement system to ensure the payment of retirement benefits to those individuals.(g) “Retirement system” means the Public Employees’ Retirement System established pursuant to the Public Employees’ Retirement Law (Part 3 (commencing with Section 20000) of Division 5).(Added by Stats. 2004, Ch. 215, Sec. 4. Effective August 11, 2004.)
CA Govt Code § 16945 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 8 - The California Pension Restructuring Bond Act of 2004|ARTICLE 2 - Issuance of Bonds to Finance the Program|Section 16945.

16945.  The committee is authorized and empowered, for and in the name and on behalf of the state, to do all of the following:(a) Upon the request of the Director of Finance, and following receipt of the determination of the Director of Finance pursuant to Section 16941, issue taxable or tax-exempt bonds for the purpose of funding or refunding pension obligations, paying related costs and ancillary obligations, or refunding any bonds previously issued pursuant to this chapter.(b) Execute debentures or other instruments evidencing the pension obligations.(c) Enter into ancillary obligations and other contracts deemed necessary by the committee in connection with any bonds issued under this chapter.(d) Establish the terms and conditions for the program undertaken pursuant to this chapter.(e) Employ or contract for legal, consulting, underwriting, or other services in connection with the program as may be necessary in the judgment of the committee, as approved by the Treasurer, as agent for sale of the bonds, for the successful financing of the program and the issuance and sale of bonds.(f) In addition to the powers specifically granted in this chapter, do all things necessary or convenient, including delegation of necessary duties to the Director of Finance, as chairperson, and to the Treasurer, as agent for sale of the bonds, to carry out the purposes of this chapter.(Added by Stats. 2004, Ch. 215, Sec. 4. Effective August 11, 2004.)
CA Govt Code § 16946 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 8 - The California Pension Restructuring Bond Act of 2004|ARTICLE 2 - Issuance of Bonds to Finance the Program|Section 16946.

16946.  Every issue of bonds, and any ancillary obligation entered into with respect to those bonds, shall be a debt and liability of the state payable from the General Fund of the state or, in the case of bond anticipation notes, payable from the proceeds of bonds to be issued pursuant to this chapter.(Added by Stats. 2004, Ch. 215, Sec. 4. Effective August 11, 2004.)
CA Govt Code § 16947 (2021)
2021 California Code|Government Code - GOV|TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA|DIVISION 4 - FISCAL AFFAIRS|PART 3 - STATE BONDS|CHAPTER 8 - The California Pension Restructuring Bond Act of 2004|ARTICLE 2 - Issuance of Bonds to Finance the Program|Section 16947.

16947.  (a) The cumulative amount of outstanding bonds issued pursuant to this chapter may not exceed the lesser of (1) the sum of two billion dollars ($2,000,000,000); or (2) the amount which, when added to all anticipated interest and related costs of the bonds, does not exceed the anticipated reduction of the state’s pension obligations as a result of changes in the retirement law that reduce contributions to the retirement system, as determined by the Director of Finance.(b) Notwithstanding subdivision (a), the cumulative amount of bonds issued pursuant to this chapter in any one fiscal year may not exceed the total unpaid amount of the state’s pension obligations for that fiscal year.(c) Bonds may be issued pursuant to this chapter in any two fiscal years after June 30, 2004, but may not be issued in any more than two fiscal years.(Added by Stats. 2004, Ch. 215, Sec. 4. Effective August 11, 2004.)