reglab/statecodes huggingface dataset:
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 6 - Small Business Financial Assistance Act of 2013 › ARTICLE 11 - Reporting › Section 63089.97.

63089.97. Each corporation shall provide to the program manager, in a format prescribed by him or her, the following data and reports:
(a) A summary of all outstanding loans, bonds, and other credit enhancements to which a corporation guarantee, as authorized by this chapter, is attached, on a schedule determined by the program manager.
(b) A summary of all outstanding direct loans and other debt instruments made by a corporation, as authorized by this chapter, on a schedule determined by the program manager.
(c) A summary of all outstanding other financial project obligations made by a corporation, as authorized by this chapter, on a schedule determined by the program manager.
(d) Statement of economic interests from each designated person pursuant to Section 87302.
(e) No later than July 31 of each fiscal year, commencing January 1, 2014, each of the following documents:
(1) A copy of the corporation board approved budget for the current fiscal year.
(2) Projected fiscal year summary of authorized program activities including direct loans, loan guarantees, bond guarantees, and other financial product activity supported by the expansion fund.
(3) A copy of the written plan of operation or strategic plan for the current fiscal year as approved by the corporations board of directors.
(4) A copy of the current and valid articles of incorporation and bylaws of the corporation with noted amendments from the prior fiscal year.
(f) No later than October 31 of each year commencing January 1, 2014, a copy of the corporation’s prior fiscal year audit, auditor findings, if any, and finding responses.
(g) A list by city and county of the number and dollar value of all credit enhancements and debt instruments the corporation entered into, pursuant to this chapter, during the report year, and that are outstanding at the close of the fiscal year.
(h) Any other statistical and other data, reports, or other information required by the directives and requirements or the program manager.
(Amended by Stats. 2015, Ch. 191, Sec. 1. (AB 1537) Effective January 1, 2016.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 6 - Small Business Financial Assistance Act of 2013 › ARTICLE 11 - Reporting › Section 63089.98.

63089.98. (a) Annually, not later than January 1 of each year commencing January 1, 2014, and notwithstanding Section 10231.5, the program manager shall prepare and submit to the Governor and the Legislature, as part of the report required by Section 63035, a report for the preceding fiscal year ending June 30, containing the expansion fund and trust fund financial product activity of each corporation, including all of the following:
(1) Direct loans, guarantees, and other financial products awarded and outstanding balances.
(2) Default and loss statistics.
(3) Employment data.
(4) Ethnicity and gender data of participating contractors and other entities, and experience of surety insurer participants in the bond guarantee program.
(5) Geographic distribution by city and county of the direct loans, guarantees, and other financial products awarded and outstanding at the close of the fiscal year.
(6) Significant events.
(b) The program manager shall post the report on the bank’s internet website.
(Amended by Stats. 2022, Ch. 427, Sec. 14. (SB 1489) Effective January 1, 2023.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 6 - Small Business Financial Assistance Act of 2013 › ARTICLE 12 - Venture Capital Program › Section 63089.99.

63089.99. (a) A venture capital program is hereby established within the bank.
(b) The Governor shall appoint a deputy director who shall have direct authority over the venture capital program and serve at the pleasure of the Governor. Notwithstanding any law in this chapter, the deputy director shall act under the guidance and authority of the executive director.
(c) The venture capital program shall operate pursuant to directives and requirements developed and approved by the bank board.
(d) Pursuant to the venture capital program and to the extent permissible, the bank may do both of the following:
(1) Acquire contract rights, or enter into contracts involving loans or bonds (including without limitation, loans and bonds with shared appreciation rights or contingent interest payments) with respect to investment funds, investment fund management companies, special purpose investment vehicles, trusts, nonprofit entities, small businesses, and other private business entities.
(2) Reinvest the proceeds received by the bank from any loans or contract rights, as described in paragraph (1).
(e) Any loans or contract rights made by the bank pursuant to this section shall be exempt from the usury provisions of Section 1 of Article XV of the California Constitution. This subdivision creates and authorizes exempt classes of transactions and persons pursuant to Section 1 of Article XV of the California Constitution.
(f) An action to determine the validity of any resolution, agreement, or other method of financing authorized or undertaken pursuant to this section may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure.
(Added by Stats. 2022, Ch. 68, Sec. 28. (SB 193) Effective June 30, 2022.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64100.

64100. This division shall be known and may be cited as the California Transportation Financing Authority Act.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64101.

64101. The California Transportation Financing Authority is hereby created in state government. The authority constitutes a public instrumentality, and the exercise by the authority of the powers conferred by this division shall be deemed and held to be the performance of an essential public function.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64103.

64103. (a) The authority shall consist of seven members, as follows:
(1) The Treasurer, who shall serve as the chair of the authority.
(2) The Director of Finance.
(3) The Controller.
(4) The Director of Transportation.
(5) The executive director of the commission.
(6) A local agency representative appointed by the Senate Committee on Rules.
(7) A local agency representative appointed by the Speaker of the Assembly.
(b) Members of the authority shall serve without compensation, but the authority may reimburse its members for necessary expenses incurred in the discharge of their duties.
(c) The Director of Finance may designate an employee of the Department of Finance to act for him or her at all meetings of the authority.
(d) The director of the department may designate an employee of the department to act for him or her at all meetings of the authority.
(e) The executive director of the commission may designate an employee of the commission to act for him or her at all meetings of the authority.
(f) The chair of the authority shall appoint an executive director. The offices of the authority shall be located in the office of the Treasurer. The authority may, by resolution, delegate to one or more of its members or its executive director or any employee of the authority such powers and duties that it may deem proper, including, but not limited to, the power to enter into contracts on behalf of the authority.
(g) Four members of the authority shall constitute a quorum. The affirmative vote of a majority of the members present at a duly constituted meeting of the authority shall be necessary for any action taken by the authority. Additionally, the authority may not take any action unless a quorum is present at the time of the vote.
(Amended by Stats. 2010, Ch. 478, Sec. 4. (AB 2777) Effective January 1, 2011.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64104.

64104. The provisions of this division shall be administered by the authority, which shall have and is hereby vested with all powers reasonably necessary to carry out the powers and responsibilities expressly granted or imposed under this division.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64105.

64105. The objective of the authority shall be to increase the construction of new capacity or improvements for the state transportation system in a manner that is consistent with and will help meet the state’s greenhouse gas reduction goals, air quality improvement goals, and natural resource conservation goals, through the issuance of, or the approval of the issuance of, bonds backed, in whole or in part, by the revenue streams specified in Section 64109.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64106.

64106. (a) The Attorney General shall be the legal counsel for the authority, however, with the approval of the Attorney General, the authority may employ legal counsel as in its judgment is necessary or advisable to carry out the duties and functions imposed upon it by this division, including the employment of bond counsel as may be deemed advisable in connection with the issuance and sale of bonds.
(b) The Treasurer shall be the treasurer for the authority.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64107.

64107. The authority may do any of the following:
(a) Adopt bylaws for the regulation of its affairs and the conduct of its business.
(b) Adopt an official seal.
(c) Sue and be sued in its own name.
(d) Receive and accept from any agency of the United States, any agency of the state, or any municipality, county, or other political subdivision thereof, or from any individual, association, or corporation gifts, grants, or donations of moneys for achieving any of the purposes of this division.
(e) Engage the services of private consultants to render professional and technical assistance and advice in carrying out the purposes of this division.
(f) Receive and accept from any source loans, contributions, or grants for, or in aid of, the construction, financing, or refinancing of a project or any portion of a project in money, property, labor, or other things of value.
(g) Make secured or unsecured loans to, or purchase secured or unsecured loans of, any project sponsor in connection with the financing of a project or working capital in accordance with an agreement between the authority and the project sponsor. However, no loan to finance a project shall exceed the total cost of the project, as determined by the project sponsor and approved by the authority.
(h) Make secured or unsecured loans to, or purchase secured or unsecured loans of, any project sponsor in accordance with an agreement between the authority and the project sponsor to refinance indebtedness incurred by that project sponsor for the costs of projects undertaken or for projects acquired or for working capital.
(i) Mortgage all or any portion of the interest of the authority in a project and the property on which that project is located, whether owned or thereafter acquired, including the granting of a security interest in any property, tangible or intangible, and to assign or pledge all or any portion of the interests of the authority in mortgages, deeds of trust, indentures of mortgage or trust, or similar instruments, notes, and security interests in property, tangible or intangible, of projects for which the authority has made loans, and the revenues therefrom, including payments or income from any thereof owned or held by the authority, for the benefit of the holders of bonds issued to finance or refinance a project or issued to refund or refinance outstanding indebtedness of project sponsors as permitted by this division.
(j) Charge and equitably apportion among project sponsors, the administrative costs and expenses incurred by the authority in the exercise of its powers and duties conferred by this division.
(k) Participate in all things necessary and convenient to carry out its purposes and exercise its powers.
(Amended by Stats. 2013, Ch. 198, Sec. 2. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64107.5.

64107.5. The authority or issuer may do any of the following:
(a) Obtain, or aid in obtaining, from any department or agency of the United States or of the state, any private company, any insurance or guarantee as to, of, or for the payment or repayment of, interest or principal, or both, or any part thereof, on any bond, loan, lease, or obligation, or any instrument evidencing or securing the loan, lease, or obligation, made or entered into pursuant to this division; and notwithstanding any other provisions of this division, to enter into any agreement, contract, or any other instrument whatsoever with respect to that insurance or guarantee, to accept payment in the manner and form as provided therein in the event of default by a project sponsor, and to assign that insurance or guarantee as security for the issuer’s bonds.
(b) Enter into any and all agreements or contracts, including agreements for liquidity and credit enhancement and interest rate swaps or hedges, execute any and all instruments, and do and perform any and all acts or things necessary, convenient, or desirable for the purposes of the issuer or to carry out any power expressly granted by this division.
(c) Invest any moneys held in reserve or sinking funds or any moneys not required for immediate use or disbursement, at the discretion of the issuer, in any obligations authorized by the resolution authorizing the issuance of the bonds secured thereof or authorized by law for the investment of trust funds in the custody of the Treasurer.
(d) Employ and fix the compensation of bond counsel, financial consultants, and advisers as may be necessary in its judgment in connection with the issuance and administration of any bonds and contract for engineering, architectural, accounting, or other services as may be necessary in the judgment of the issuer for the successful development of any project.
(Added by Stats. 2013, Ch. 198, Sec. 3. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64108.

64108. All expenses of the authority incurred in carrying out the provisions of this division shall be payable solely from funds provided pursuant to this division, and no liability shall be incurred by the authority beyond the extent to which moneys shall have been provided under this division, except that for the purposes of meeting the necessary expenses of initial organization and operation of the authority for the period commencing January 1, 2010, and continuing until the date the authority derives money from funds provided to it under the provisions of this division, the authority may borrow moneys as the authority may require. Any moneys borrowed by the authority shall subsequently be charged to and apportioned among project sponsors in an equitable manner and the moneys repaid with appropriate interest over a reasonable period of time. Under no circumstances shall the authority create any debt, liability, or obligation on the part of the State of California payable from any source whatsoever other than the moneys provided under the provisions of this division.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64109.

64109. (a) To the extent permitted by law, in connection with any project financed or refinanced pursuant to this division, the project sponsor may pledge the following revenue sources as security for revenue bonds issued under this division:
(1) Local transportation funds, including, but not limited to, fuel taxes, Article XIX B fuel sales taxes, local transportation sales taxes, other state revenues approved for this purpose by the Legislature or by initiative, and developer fees. To the extent that these revenue sources are within the control of a local agency, the revenue sources may only be pledged with approval of the governing board of the local agency. To the extent that these revenues are within the control of a state agency, the revenue sources may only be pledged with approval by the department and the commission.
(2) Tolls, on facilities where not otherwise prohibited by statute, collected by a project sponsor with the approval of the authority.
(b) Where the authority is issuing bonds to finance or refinance a project, the authority shall accept a project sponsor’s pledge made pursuant to subdivision (a) and pledge those revenues to the repayment of bonds issued to finance or refinance the applicable project.
(Amended by Stats. 2013, Ch. 198, Sec. 4. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64111.

64111. (a) Prior to issuing or approving the issuance of bonds for a project, the authority shall determine that the revenues and other moneys available for a project will be sufficient to pay debt service on the bonds and to operate and maintain the project over the life of the bonds consistent with the objective set forth in Section 64105. The authority may hire outside consultants to assist in making these determinations.
(b) The authority may issue or approve the issuance of bonds to achieve any of its purposes under this division and bonds may be issued without investment grade ratings, as long as the bonds are sold only to qualified institutional buyers or accredited investors who attest upon purchase that they understand the nature of the risks of their investment. The bonds may be taxable or tax exempt and may be sold at public or private negotiated sale. The Treasurer shall serve as the agent for sale for all authority bond issues, and shall be reimbursed from bond proceeds to cover the Treasurer’s costs related to the issuance of these bonds. As used in this subdivision, “accredited investor” shall have the meaning as defined in subdivision (a) of Section 5950, and “qualified institutional buyer” shall have the meaning as defined in subdivision (h) of Section 5950.
(c) A project sponsor for which the authority has granted a request that the project sponsor issue the bonds, in addition to any other powers it may have under any other law, shall have all of the powers of the authority under this division necessary or convenient for the purpose of issuing, securing, and repaying the bonds and financing or refinancing the project.
(d) The issuer may arrange additional credit support for the bond issues. However, the authority may not compel project sponsors to make use of that credit enhancement, nor compel them to contribute to it by becoming part of a common credit or by providing funding for a common reserve or other enhancement mechanism.
(Amended by Stats. 2013, Ch. 198, Sec. 6. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64113.

64113. A project sponsor of a project imposing tolls may incorporate congestion management mechanisms to regulate usage and increase mobility, accessibility, and environmental benefits.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64114.

64114. The authority and the commission shall develop an approval process that results in project approval by the commission and financing approval by the authority in a cooperative manner that is not sequential, in order that both approvals may be delivered to a project at approximately the same time. Both agencies shall work with potential project sponsors to ensure that projects are developed and brought forward for approval in a manner consistent with the commission’s project requirements and the authority’s financing requirements. No less than 30 days prior to approving the project and its financing plan, the commission and the authority shall make available for public review and comment a description of the project and its financing.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64116.

64116. In the discretion of the authority, any bonds issued under this division may be secured by a trust agreement or indenture by and between the issuer and a corporate trustee or trustees, which may be the Treasurer or any trust company or bank having the powers of a trust company within or without the state. The trust agreement, indenture, or the resolution providing for the issuance of those bonds may pledge or assign the revenues to be received from a project sponsor or pursuant to any revenue-producing contract or as pledged by the issuer pursuant to Section 64109. The indenture, trust agreement, or resolution providing for the issuance of those bonds may contain provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including, particularly, provisions as have been specifically authorized to be included in any resolution or resolutions authorizing bonds thereof. The trust agreement or indenture may set forth the rights and remedies of the bondholders and of the trustee or trustees, and may restrict the individual right of action of bondholders. In addition to the foregoing, the indenture, trust agreement, or resolution may contain other provisions as the authority or issuer may deem reasonable and proper for the security of the bondholders.
(Amended by Stats. 2013, Ch. 198, Sec. 9. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64117.

64117. Bonds issued under this division shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof or a pledge of the faith and credit of the state or of the political subdivision, other than the issuer, but shall be payable solely from the funds herein provided. The bonds shall contain on the face thereof a statement to the effect that neither the State of California nor the issuer shall be obligated to pay the principal of, or the interest thereon, except from revenues pledged therefor by the issuer, and that neither the faith and credit nor the taxing power of the State of California or of any political subdivision thereof is pledged to the payment of the principal of or the interest on those bonds. The issuance of bonds under the provisions of this division shall not directly or indirectly or contingently obligate the state or any political subdivision thereof to levy or to pledge any form of taxation therefor or to make any appropriation for their payment.
(Amended by Stats. 2013, Ch. 198, Sec. 10. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64118.

64118. Any holder of bonds issued under this division or any of the coupons appertaining thereto, and the trustee or trustees under any indenture or trust agreement, except to the extent the rights herein given may be restricted by any resolution authorizing the issuance of, or any indenture or trust agreement securing, the bonds, may, either at law or in equity, by suit, action, mandamus, or other proceedings, protect and enforce any and all rights under the laws of the state or granted hereunder or under the resolution or indenture or trust agreement, and may enforce and compel the performance of all duties required by this division or by the resolution, indenture, or trust agreement to be performed by the issuer or by any officer, employee, or agent thereof.
(Amended by Stats. 2013, Ch. 198, Sec. 11. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64119.

64119. All moneys received pursuant to this division, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this division. Until the funds are applied as provided in this division, and notwithstanding any other provision of law, the moneys may be invested in any obligations or securities authorized by resolution authorizing the issuance of the bonds or indenture or trust agreement securing the bonds. Any officer with whom, or any bank or trust company with which, the moneys are deposited shall act as trustee of the moneys and shall hold and apply the moneys for the purposes hereof, subject to any regulations adopted pursuant to this division, and the resolution authorizing the issuance of the bonds or the indenture or trust agreement securing the bonds.
(Amended by Stats. 2013, Ch. 198, Sec. 12. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64120.

64120. (a) The issuer may provide for the issuance of bonds for the purpose of refunding any bonds or any series or issue of bonds of the issuer then outstanding, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption, purchase, or maturity of the bonds.
(b) The proceeds of any bonds issued for the purpose of refunding of outstanding bonds may, in the discretion of the issuer, be applied to the purchase, redemption prior to maturity, or retirement at maturity of any outstanding bonds on their earliest redemption date or dates, upon their purchase or maturity, or paid to a third person to assume the issuer’s obligation to make the payments, and may, pending that application, be placed in escrow to be applied to the purchase, retirement at maturity, or redemption on the date or dates determined by the issuer.
(c) Any proceeds placed in escrow may, pending their use, be invested and reinvested in obligations or securities authorized by resolutions of the issuer, payable or maturing at the time or times as are appropriate to ensure the prompt payment of the principal, interest, and redemption premium, if any, of the outstanding bonds to be refunded at maturity or redemption of the bonds to be refunded either at their earliest redemption date or dates or any subsequent redemption date or dates or for payment of interest on the refunding bonds on or prior to the final date of redemption or payment of the bonds to be refunded. After the terms of the escrow have been fully satisfied and carried out, any balance of the proceeds and interest, income, and profits, if any, earned or realized on the investments thereof may be returned to the issuer for use by the issuer.
(d) All of the refunding bonds are subject to this division in the same manner and to the same extent as other bonds issued pursuant to this division.
(Amended by Stats. 2013, Ch. 198, Sec. 13. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64121.

64121. Bonds issued under this division are hereby made securities in which all banks, bankers, savings banks, trust companies and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all administrators, executors, guardians, trustees and other fiduciaries, and all other persons whatsoever who now are or may hereafter be authorized to invest in bonds or other obligations of the state, may properly and legally invest any funds, including capital belonging to them or within their control; and the bonds, notes, or other securities or obligations are hereby made securities that may properly and legally be deposited with and received by any state or municipal officers or agency of the state for any purpose for which the deposit of bonds or other obligations of the state is now or may hereafter be authorized by law.
(Amended by Stats. 2013, Ch. 198, Sec. 14. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64122.

64122. Any bonds issued under this division, their transfer, and the income therefrom shall at all times be free from taxation of every kind by the state and by all political subdivisions in the state.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64123.

64123. The State of California does pledge to and agree with the holders of the bonds issued pursuant to this division, and with those parties who may enter into contracts with the authority or a project sponsor pursuant to this division, that the state will not limit, alter, or restrict the rights hereby vested in the authority or a project sponsor to finance or refinance projects and to authorize the imposition and collection of tolls and to fulfill the terms of any agreements made with the holders of bonds authorized by this division, and with the parties who may enter into contracts with the authority or a project sponsor pursuant to this division, or in any way impair the rights or remedies of the holders of those bonds or those parties until the bonds, together with interest thereon, are fully paid and discharged and the contracts are fully performed on the part of the authority or a project sponsor. The authority, and the project sponsor, as a public body, corporate and politic, shall have the right to include the pledge herein made in its bonds and contracts.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64124.

64124. A pledge by or to the issuer of revenues, moneys, accounts, accounts receivable, contract rights, and other rights to payment of whatever kind made by or to the issuer pursuant to the authority granted in this division shall be valid and binding from the time the pledge is made for the benefit of pledges and successors thereto. The revenues, moneys, accounts, accounts receivable, contract rights, and other rights to payment of whatever kind pledged by or to the issuer or its assignees shall immediately be subject to the lien of the pledge without physical delivery or further act. The lien of the pledge shall be valid and binding against all parties, irrespective of whether the parties have notice of the claim. The indenture, trust agreement, resolution, or another instrument by which the pledge is created need not be recorded.
(Amended by Stats. 2013, Ch. 198, Sec. 15. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64125.

64125. Each lease agreement, note, mortgage, or other instrument evidencing the obligations of a project sponsor shall provide that the rents or principal, interest, and other charges payable by the project sponsor shall be sufficient at all times, (a) to pay the principal of, sinking fund payments, if any, the premium, if any, and the interest on outstanding bonds issued in respect of such project as the same shall become due and payable, (b) to create and maintain reserves which may, but need not, be required or provided for in the resolution relating to the bonds, and (c) to pay its share of the administrative costs and expenses of the authority. The issuer shall pledge the revenues derived, and to be derived, from a project or from a project sponsor for the purposes specified in (a), (b), and (c) of the preceding sentence and additional bonds may be issued which may rank on a parity with other bonds relating to the project to the extent and on the terms and conditions provided in the bond resolution.
(Amended by Stats. 2013, Ch. 198, Sec. 16. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64126.

64126. When the principal of and interest on bonds issued by the authority to finance the cost of a project or working capital or to refinance outstanding indebtedness of one or more project sponsors, including any refunding bonds issued to refund and refinance those bonds, have been fully paid and retired or when adequate provision has been made to fully pay and retire those bonds, and all other conditions of the resolution, the lease, the trust indenture and any mortgage or deed of trust, security interest, or any other instrument or instruments authorizing and securing the bonds have been satisfied and the lien of the mortgage, deed of trust, or security interest has been released in accordance with the provisions thereof, the authority shall promptly do all things and execute those releases, release deeds, reassignments, deeds, and conveyances necessary and required to convey or release any rights, title, and interest of the authority in the project so financed or refinanced, or securities or instruments pledged or transferred to secure the bonds, to the project sponsor or sponsors.
(Amended by Stats. 2013, Ch. 198, Sec. 17. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64127.

64127. (a) This division shall be deemed to provide a complete, additional, and alternative method for doing the things authorized by this code, and shall be regarded as supplemental and additional to powers conferred by other laws. The issuance of bonds and refunding bonds and the financing or refinancing of projects or the imposition and collection of tolls under this division need not comply with any other law applicable to the issuance of bonds or the collection of tolls, including, but not limited to, Division 13 (commencing with Section 21000) of the Public Resources Code.
(b) Except as provided in subdivision (a), the financing of a project pursuant to this division shall not exempt a project from any requirement of law that is otherwise applicable to the project, and the project sponsor shall provide documentation, before the authority approves the issuance of bonds for the project, that the project has complied with Division 13 (commencing with Section 21000) of the Public Resources Code, or is not a project under that division.
(Amended by Stats. 2013, Ch. 198, Sec. 18. (AB 1070) Effective January 1, 2014.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64128.

64128. To the extent that the provisions of this division are inconsistent with any other provisions of any general statute or special act or parts thereof, the provisions of this division shall be deemed controlling.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64129.

64129. Any net earnings of the authority beyond that necessary for retirement of any obligations issued by the authority or to implement the purposes of this division may inure to the benefit only of the state or the authority.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64130.

64130. Upon dissolution of the authority, title to all property owned by the authority shall vest in the successor authority created by the Legislature, if any, if the successor authority qualifies under Section 103 of the federal Internal Revenue Code of 1954, as amended, and the regulations promulgated thereunder, as an authority entitled to issue obligations on behalf of the State of California the interest on which is exempt from federal income taxation. If no successor authority is so created, title to the property shall vest in the state.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 3 - CALIFORNIA TRANSPORTATION FINANCING AUTHORITY › Section 64131.

64131. Nothing in this division is intended to limit the authority to develop and finance high-occupancy toll lanes pursuant to Section 149.4, 149.5, 149.6, or 149.7 of the Streets and Highways Code, or to limit the ability of any agency that has existing authority to issue bonds.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
2023 California Code › Government Code - GOV › TITLE 6.8 - San Francisco Bay Area Regional Housing Finance › PART 1 - Formation of the Bay Area Housing Finance Authority and General Powers › CHAPTER 1 - General Provisions › Section 64500.

64500. This title shall be known, and may be cited, as the San Francisco Bay Area Regional Housing Finance Act.
(Added by Stats. 2019, Ch. 598, Sec. 1. (AB 1487) Effective January 1, 2020.)
2023 California Code › Government Code - GOV › TITLE 6.8 - San Francisco Bay Area Regional Housing Finance › PART 1 - Formation of the Bay Area Housing Finance Authority and General Powers › CHAPTER 1 - General Provisions › Section 64501.

64501. The Legislature finds and declares the following:
(a) The San Francisco Bay area is facing the most significant housing crisis in the region’s history, as countless residents are facing insurmountable housing costs, spend hours driving every day, are one paycheck away from an eviction, or experience homelessness.
(b) The San Francisco Bay area faces this crisis because, as a region, it has failed to produce enough housing at all income levels, preserve affordable housing, protect existing residents from displacement, provide adequate housing at all income levels in close proximity to jobs, and address the housing issue regionally.
(c) The housing crisis in the San Francisco Bay area is regional in nature and too great to be addressed individually by the region’s 101 cities and 9 counties.
(d) However, the current process is anything but regional; instead each city and county is each responsible for their own decisions around housing.
(e) The San Francisco Bay area faces an annual funding shortfall of two billion five hundred million dollars ($2,500,000,000) in its efforts to address the affordable housing crisis.
(f) Regional funding is necessary to help address the housing crisis in the San Francisco Bay area by reducing the severe imbalance between jobs and housing and delivering resources and technical assistance at a regional scale, including:
(1) Providing critically needed funding to affordable housing projects across the San Francisco Bay area.
(2) Providing staff support to local jurisdictions that require capacity or technical assistance to expedite the preservation and production of housing.
(3) Funding tenant services, such as emergency rental assistance and access to counsel, thereby complementing this cost and responsibility of local jurisdictions.
(4) Monitoring and reporting on progress at a regional scale.
(Added by Stats. 2019, Ch. 598, Sec. 1. (AB 1487) Effective January 1, 2020.)
2023 California Code › Government Code - GOV › TITLE 6.8 - San Francisco Bay Area Regional Housing Finance › PART 1 - Formation of the Bay Area Housing Finance Authority and General Powers › CHAPTER 1 - General Provisions › Section 64502.

64502. For purposes of this title:
(a) “Affordable housing” is defined as housing that is restricted by recorded document to provide the housing at an affordable housing cost, as defined in Section 50052.5 of the Health and Safety Code, or an affordable rent, as defined in Section 50053 of the Health and Safety Code, as applicable.
(b) “Authority” means the Bay Area Housing Finance Authority established pursuant to Section 64510.
(c) “Board” means the governing board of the Bay Area Housing Finance Authority.
(d) “Executive board” means the executive board of the Association of Bay Area Governments.
(e) “Extremely low income households” has the same meaning as the term is defined in Section 50106 of the Health and Safety Code.
(f) “Lower income households” has the same meaning as that term is defined in Section 50079.5 of the Health and Safety Code.
(g) “Low- or moderate-income households” has the same meaning as “persons and families of low or moderate income,” as defined in Section 50093 of the Health and Safety Code.
(h) “San Francisco Bay area” means the entire area within the territorial boundaries of the Counties of Alameda, Contra Costa, Marin, Napa, San Mateo, Santa Clara, Solano, and Sonoma, and the City and County of San Francisco.
(i) “Very low income households” has the same meaning as the term is defined in Section 50105 of the Health and Safety Code.
(Amended by Stats. 2023, Ch. 758, Sec. 1. (AB 1319) Effective January 1, 2024.)
2023 California Code › Government Code - GOV › TITLE 6.8 - San Francisco Bay Area Regional Housing Finance › PART 1 - Formation of the Bay Area Housing Finance Authority and General Powers › CHAPTER 1 - General Provisions › Section 64503.

64503. The Legislature finds and declares that providing a regional financing mechanism for affordable housing production, preservation, and tenant protections in the San Francisco Bay area, as described in this section and Section 64501, is a matter of statewide concern and is not a municipal affair as that term is used in Section 5 of Article XI of the California Constitution. Therefore, this title applies to all cities within the San Francisco Bay area, including charter cities.
(Added by Stats. 2019, Ch. 598, Sec. 1. (AB 1487) Effective January 1, 2020.)
2023 California Code › Government Code - GOV › TITLE 6.8 - San Francisco Bay Area Regional Housing Finance › PART 1 - Formation of the Bay Area Housing Finance Authority and General Powers › CHAPTER 2 - The Bay Area Housing Finance Authority and Governing Board › Section 64510.

64510. (a) (1) The Bay Area Housing Finance Authority is hereby established with jurisdiction extending throughout the San Francisco Bay area.
(2) The authority shall be governed by the same board that governs the Metropolitan Transportation Commission. The authority shall be a separate legal entity from the Metropolitan Transportation Commission.
(b) The formation and jurisdictional boundaries of the authority are not subject to the Cortese-Knox-Hertzberg Local Government Reorganization Act of 2000 (Division 3 (commencing with Section 56000) of Title 5).
(c) The authority’s purpose is to raise, administer, and allocate funding and provide technical assistance at a regional level for tenant protection, affordable housing preservation, and new affordable housing production.
(d) The authority shall be staffed by the existing staff of the Metropolitan Transportation Commission or any successor agency, with the understanding that additional staff with expertise in affordable housing finance will be needed to administer the funding authorized in this chapter.
(e) It is the intent of the Legislature that the powers granted to the authority and the executive board under this title shall be transferred to a future regional agency if an agency, under one governing board, is established to replace the Metropolitan Transportation Commission and the Association of Bay Area Governments and integrate regional transportation and housing funding and policy decisions within the San Francisco Bay area, subsequent to a robust public engagement process at the regional level.
(Added by Stats. 2019, Ch. 598, Sec. 1. (AB 1487) Effective January 1, 2020.)
2023 California Code › Government Code - GOV › TITLE 6.8 - San Francisco Bay Area Regional Housing Finance › PART 1 - Formation of the Bay Area Housing Finance Authority and General Powers › CHAPTER 2 - The Bay Area Housing Finance Authority and Governing Board › Section 64512.

64512. A member of the authority board shall exercise independent judgment on behalf of the interests of the residents, the property owners, and the public in furthering the intent and purposes of this title.
(Added by Stats. 2019, Ch. 598, Sec. 1. (AB 1487) Effective January 1, 2020.)
2023 California Code › Government Code - GOV › TITLE 6.8 - San Francisco Bay Area Regional Housing Finance › PART 1 - Formation of the Bay Area Housing Finance Authority and General Powers › CHAPTER 2 - The Bay Area Housing Finance Authority and Governing Board › Section 64513.

64513. (a) The authority board shall hold its first meeting at a time and place within the San Francisco Bay area fixed by the chair of the authority board.
(b) After the first meeting described in subdivision (a), the authority board shall hold meetings at times and places determined by the authority board.
(Added by Stats. 2019, Ch. 598, Sec. 1. (AB 1487) Effective January 1, 2020.)
2023 California Code › Government Code - GOV › TITLE 6.8 - San Francisco Bay Area Regional Housing Finance › PART 1 - Formation of the Bay Area Housing Finance Authority and General Powers › CHAPTER 2 - The Bay Area Housing Finance Authority and Governing Board › Section 64514.

64514. (a) The authority board may make and enforce rules and regulations necessary for governing the authority, the preservation of order, and the transaction of business.
(b) In exercising the powers and duties conferred on the authority by this title, the authority board may act by resolution.
(Added by Stats. 2019, Ch. 598, Sec. 1. (AB 1487) Effective January 1, 2020.)
2023 California Code › Government Code - GOV › TITLE 6.8 - San Francisco Bay Area Regional Housing Finance › PART 1 - Formation of the Bay Area Housing Finance Authority and General Powers › CHAPTER 3 - Powers of the Bay Area Housing Finance Authority › Section 64522.

64522. The executive board and the authority shall not do either of the following:
(a) Regulate or enforce local land use decisions.
(b) Acquire property by eminent domain.
(Added by Stats. 2019, Ch. 598, Sec. 1. (AB 1487) Effective January 1, 2020.)