reglab/statecodes huggingface dataset:
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 1 - General › Section 33606.

33606. An agency shall adopt an annual budget containing all of the following specific information, including all activities to be financed by the Low and Moderate Income Housing Fund established pursuant to Section 33334.3:
(a)  The proposed expenditures of the agency.
(b)  The proposed indebtedness to be incurred by the agency.
(c)  The anticipated revenues of the agency.
(d)  The work program for the coming year, including goals.
(e)  An examination of the previous year’s achievements and a comparison of the achievements with the goals of the previous year’s work program.
The annual budget may be amended from time to time as determined by the agency. All expenditures and indebtedness of the agency shall be in conformity with the adopted or amended budget.
When the legislative body is not the redevelopment agency, the legislative body shall approve the annual budget and amendments of the annual budget of the agency.
(Amended (as amended by Stats. 1984, Ch. 1523) by Stats. 1990, Ch. 1608, Sec. 17.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 1 - General › Section 33607.

33607. A county may require a community redevelopment agency to reimburse the county for any expenses incurred by the county in performing any of the services required to be performed by the county for the redevelopment agency pursuant to Sections 33670, 33675, and 33676 for a project area as to which no payments are made by the agency to the county in accordance with subdivision (b) of Section 33401 and no agreement has been entered into and either of the following situations exist:
(a)   A final redevelopment plan for the project area is adopted on or after January 1, 1986.
(b)   A final redevelopment plan for the project area was adopted prior to January 1, 1986, but its boundaries are changed on or after January 1, 1986, to add land to, or to exclude land from, the project area. However, in the case of a project area which changes its boundaries on or after January 1, 1986, to add land to the project area, the reimbursement shall relate only to expenses incurred by the county with respect to the added area.
(Added by Stats. 1985, Ch. 246, Sec. 1.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 1 - General › Section 33607.7.

33607.7. (a) This section shall apply to a redevelopment plan amendment for any redevelopment plans adopted prior to January 1, 1994, that increases the limitation on the number of dollars to be allocated to the redevelopment agency or that increases, or eliminates pursuant to paragraph (1) of subdivision (e) of Section 33333.6, the time limit on the establishing of loans, advances, and indebtedness established pursuant to paragraphs (1) and (2) of subdivision (a) of Section 33333.6, as those paragraphs read on December 31, 2001, or that lengthens the period during which the redevelopment plan is effective if the redevelopment plan being amended contains the provisions required by subdivision (b) of Section 33670. However, this section shall not apply to those redevelopment plans that add new territory.
(b) If a redevelopment agency adopts an amendment that is governed by the provisions of this section, it shall pay to each affected taxing entity either of the following:
(1) If an agreement exists that requires payments to the taxing entity, the amount required to be paid by an agreement between the agency and an affected taxing entity entered into prior to January 1, 1994.
(2) If an agreement does not exist, the amounts required pursuant to subdivisions (b), (c), (d), and (e) of Section 33607.5, until termination of the redevelopment plan, calculated against the amount of assessed value by which the current year assessed value exceeds an adjusted base year assessed value. The amounts shall be allocated between property taxes and educational facilities, including, in the case of amounts paid commencing with the 2011–12 fiscal year, land acquisition, facility construction, reconstruction, remodeling, maintenance, or deferred maintenance, according to the appropriate formula in paragraph (3) of subdivision (a) of Section 33607.5. In determining the applicable amount under Section 33607.5, the first fiscal year shall be the first fiscal year following the fiscal year in which the adjusted base year value is determined.
(c) The adjusted base year assessed value shall be the assessed value of the project area in the year in which the limitation being amended would have taken effect without the amendment or, if more than one limitation is being amended, the first year in which one or more of the limitations would have taken effect without the amendment. The agency shall commence making these payments pursuant to the terms of the agreement, if applicable, or, if an agreement does not exist, in the first fiscal year following the fiscal year in which the adjusted base year value is determined.
(Amended by Stats. 2015, Ch. 13, Sec. 45. (AB 104) Effective June 24, 2015.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 1 - General › Section 33607.8.

33607.8. (a)  Notwithstanding any other provision of law, a redevelopment agency may make payments from tax increment funds to an affected taxing entity that is a state water supply contractor in accordance with both of the following requirements:
(1)  The payment shall not exceed the amount that, but for the activities of the redevelopment agency, otherwise would have been received by the affected taxing entity pursuant to a tax that was originally approved by the state’s voters prior to July 1, 1978.
(2)  The payments shall be made for the purpose of funding the payments of the state water supply contractor pursuant to its water supply contract with the Department of Water Resources for the costs of building, operating, maintaining, and replacing the State Water Resources Development System.
(b)  Allocations made by a redevelopment agency for payments made pursuant to subdivision (a) shall not cause any reduction in payments to an affected taxing entity pursuant to paragraph (2) of subdivision (a) of Section 33607.5.
(c)  For purposes of this section:
(1)  “State Water Resources Development System” has the same meaning as used in Section 12931 of the Water Code.
(2)  “State water supply contractor” has the same meaning as used in Section 11975 of the Water Code.
(Added by Stats. 1995, Ch. 137, Sec. 1. Effective January 1, 1996.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 2 - Community Redevelopment Agency Administrative Fund › Section 33610.

33610. At any time after the agency created for any community becomes authorized to transact business and exercise its powers, the legislative body of the community may appropriate to the agency such amounts as the legislative body deems necessary for the administrative expenses and overhead of the agency. The money appropriated may be paid to the agency as a grant to defray the expenses and overhead, or as a loan to be repaid upon such terms and conditions as the legislative body may provide.
In addition to the common understanding and usual interpretation of the term, “administrative expense” includes, but is not limited to, expenses of redevelopment planning and dissemination of redevelopment information.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 2 - Community Redevelopment Agency Administrative Fund › Section 33611.

33611. Each agency transacting business and exercising powers under this part shall annually submit to the legislative body of the community a proposed budget of its administrative expenses.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 2 - Community Redevelopment Agency Administrative Fund › Section 33612.

33612. The legislative body may adopt an annual budget for the administrative expenses of the agency in such amounts as it deems necessary and may provide such conditions and restrictions upon the expenditure or encumbrance of the money appropriated pursuant to the budget as it deems advisable.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 2 - Community Redevelopment Agency Administrative Fund › Section 33613.

33613. The money appropriated for administrative expenses shall be kept in the treasury of the community in a special fund to be known as the community redevelopment agency administrative fund, and money shall be drawn from the fund to meet the administrative expenses of the agency in substantially the same manner as money is drawn by other agencies and departments of the community subject to budgetary control.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 2 - Community Redevelopment Agency Administrative Fund › Section 33614.

33614. The money appropriated by the legislative body to the community redevelopment agency administrative fund is money granted by the community to defray the administrative expenses of the agency which is performing a public function of the community.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 2 - Community Redevelopment Agency Administrative Fund › Section 33615.

33615. Each such agency shall file with the legislative body a detailed report of all its transactions, including a statement of all revenues and expenditures, at monthly, quarterly, or annual intervals as the legislative body may prescribe.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 3 - Redevelopment Revolving Fund › Section 33620.

33620. At any time after it has adopted a resolution declaring that there is need for an agency to function in the community, the legislative body may establish a redevelopment revolving fund to be kept in the treasury of the community.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 3 - Redevelopment Revolving Fund › Section 33621.

33621. For the purpose of raising money to be deposited in the redevelopment revolving fund, the legislative body may appropriate money or the community may issue and sell its general obligation bonds.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 3 - Redevelopment Revolving Fund › Section 33622.

33622. By resolution of the legislative body adopted by a majority vote, any money in the redevelopment revolving fund may be expended from time to time for:
(a)  The acquisition of real property in any project area.
(b)  The clearance, aiding in relocation of site occupants, and preparation of any project area for redevelopment.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 3 - Redevelopment Revolving Fund › Section 33623.

33623. By resolution of the legislative body adopted by a two-thirds vote, any money in the redevelopment revolving fund may be paid to the agency, upon such terms and conditions as the legislative body may prescribe for any of the following purposes:
(a)  Deposit in a trust fund to be expended for the acquisition of real property in any project area.
(b)  The clearance of any project area for redevelopment.
(c)  Any expenses necessary or incidental to the carrying out of a redevelopment plan which has been adopted by the legislative body.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 3 - Redevelopment Revolving Fund › Section 33624.

33624. All money received by the agency from the sale, lease, or encumbering of property acquired with money from the redevelopment revolving fund in excess of the money required to repay the loans and interest thereon authorized by this part shall be redeposited in the fund.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 3 - Redevelopment Revolving Fund › Section 33625.

33625. All other provisions of this part that relate to financing are subject to Sections 33433, 33434, and 33624.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 3 - Redevelopment Revolving Fund › Section 33626.

33626. The legislative body of any community may abolish the redevelopment revolving fund whenever it finds that the purposes for which it was established have been accomplished.
The legislative body of any community may, with the consent of the agency, withdraw money from the redevelopment revolving fund whenever and to the extent that it finds that the amount of money therein exceeds the amount necessary to finance existing or planned purposes for which its expenditure is authorized by the provisions of this article. All money withdrawn from the fund by reason of its being reduced in size, or its abolition, and all money which, after abolition, would have been required to be deposited or redeposited in the fund, shall be transferred to the general obligation bond redemption fund of the community or to the general fund of the community, as directed by the legislative body.
(Amended by Stats. 1963, Ch. 1025.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 4 - Community Appropriations and General Obligation Bonds › Section 33630.

33630. The community may issue and sell its general obligation bonds for any or all of the following purposes: raising money to be deposited in the redevelopment revolving fund, or providing funds with which to redeem before maturity, retire at maturity, or purchase agency bonds issued under Article 5 (commencing with Section 33640) of this chapter. General obligation bonds issued pursuant to this article may be authorized and issued in a principal amount sufficient to provide funds for the payment of any or all of the following:
(a)  The estimated amount of money to be raised to be deposited in the redevelopment revolving fund.
(b)  The principal amount of agency bonds proposed to be so redeemed, retired or purchased.
(c)  The estimated amount of any premiums required to be paid in connection with the redemption or purchase of such agency bonds.
(d)  The estimated amount of any due and unpaid interest or accrued interest on such agency bonds which must be paid at the time the same are redeemed, retired or purchased.
(e)  The amount of interest on such general obligation bonds estimated to accrue during the period from the date thereof until the portion of taxes allocated to and paid into the special fund of the redevelopment agency under the provisions of Section 33670 pledged or to be pledged to the repayment of an advance to the agency for any purpose authorized by this article or by Article 3 (commencing with Section 33620) of this chapter equals the annual amount of the interest upon such bonds due and payable thereon in the next succeeding year, such period not to exceed 10 years from the date of such general obligation bonds or the first series thereof; provided, that such amount shall not include any interest estimated to accrue during any year for which interest on agency bonds proposed to be so redeemed, retired or purchased has been provided from the proceeds of sale of such agency bonds.
(f)  The estimated amount of all expenses incidental to or connected with the redemption, retirement or purchase of such agency bonds and the authorization, issuance and sale of such general obligation bonds.
All agency bonds redeemed, retired or purchased with the proceeds of such general obligation bonds shall be canceled and shall not be reissued.
The legislative body may fix a date, not more than 10 years from the date of issuance of any such general obligation bonds, for the earliest maturity of each issue or series of such bonds.
(Amended by Stats. 1967, Ch. 1079.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 4 - Community Appropriations and General Obligation Bonds › Section 33631.

33631. If the redevelopment plan contains the provision authorized by Section 33670, the agency and the legislative body of the community may, either before or after the authorization of general obligation bonds for the purposes permitted by Section 33630, enter into an agreement that the principal amount of any such general obligation bonds sold for such purposes, together with all interest which the community may pay thereon, shall constitute a loan by the community to the agency for the purpose of refinancing the redevelopment project, and that, subject to any prior pledge of or claim upon the moneys in the special fund provided for in said section 33670, the moneys accruing to such special fund are irrevocably pledged to the repayment of such loan until there has been repaid to the community from time to time from such special fund the principal amount of such general obligation bonds plus all interest which the community may pay thereon, less such part, if any, of the proceeds of such general obligation bonds which were not used for such purposes, and less any premiums and accrued interest received by the community upon the sale of such general obligation bonds.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 4 - Community Appropriations and General Obligation Bonds › Section 33632.

33632. Any surplus existing in the general obligation bond redemption fund after payment of principal and interest shall be transferred to the general fund of the community.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 4 - Community Appropriations and General Obligation Bonds › Section 33633.

33633. Except as otherwise provided in this part, any general obligation bonds issued by any community pursuant to this article shall be authorized and issued in the manner and within the limitations prescribed by law or the charter of the community for the issuance and authorization of such bonds for public purposes generally. Irrespective of any limitation as to the amount of general obligation bonds which may be issued a community may issue such bonds for the purposes prescribed in this article, in excess of the limitation, in such amount as may be authorized by the voters of the community at any general or special election.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33640.

33640. From time to time an agency may, subject to the approval of the legislative body, issue bonds for any of its corporate purposes. An agency may also, subject to the approval of the legislative body, issue refunding bonds for the purpose of paying or retiring bonds previously issued by it.
(Amended by Stats. 1977, Ch. 797. See provisions for inoperation in subd. (a) of Section 34189.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33641.

33641. An agency may issue any types of bonds which it may determine, including bonds on which the principal and interest are payable:
(a)  Exclusively from the income and revenues of the redevelopment projects financed with the proceeds of the bonds, or with the proceeds together with financial assistance from the state or federal government in aid of the projects.
(b)  Exclusively from the income and revenues of certain designated redevelopment projects whether or not they were financed in whole or in part with the proceeds of the bonds.
(c)  In whole or in part from taxes allocated to, and paid into a special fund of, the agency pursuant to the provisions of Article 6 (commencing with Section 33670).
(d)  In whole or in part from taxes imposed pursuant to Section 7280.5 of the Revenue and Taxation Code which are pledged therefor.
(e)  From its revenues generally.
(f)  From any contributions or other financial assistance from the state or federal government.
(g)  By any combination of these methods.
(Amended by Stats. 1993, Ch. 942, Sec. 32. Effective January 1, 1994. See provisions for inoperation in subd. (a) of Section 34189.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33641.5.

33641.5. (a)  As used in this section:
(1)  “Collateral” means any revenues, moneys, accounts receivable, contracts rights, and other rights to payment of whatever kind or other property subject to the pledge provided for or created in a pledge document.
(2)  “Pledge document” means the resolution, indenture, trust agreement, loan agreement, lease, installment sale agreement, reimbursement agreement, pledge agreement, or similar agreement in which the pledge is provided for or created.
(3)  “Pledge” means a committment of, by the grant of a lien on and a security interest in, the collateral referred to in a pledge document.
(b)  A pledge of collateral by a redevelopment agency to secure, directly or indirectly, the payment of the principal or redemption price of, or interest on, any bonds, or any reimbursement agreement with any provider of credit to bonds, which is issued by or entered into by an agency shall be valid and binding in accordance with the terms of the pledge document from the time the pledge is made for the benefit of pledgees and successors thereto.
The collateral shall immediately be subject to the pledge, and the pledge shall constitute a lien and security interest which immediately shall attach to the collateral and be effective, binding, and enforceable against the pledgor, its successors, purchasers of the collateral, creditors, and all others asserting the rights therein, to the extent set forth, and in accordance with, the pledge document irrespective of whether those parties have notice of the pledge and without the need for any physical delivery, recordation, filing, or further act.
(Added by Stats. 1989, Ch. 1264, Sec. 8.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33642.

33642. Any of such bonds may be additionally secured by a pledge of any revenues or by an encumbrance by mortgage, deed of trust, or otherwise of any redevelopment project or other property of the agency or by a pledge of the taxes referred to in subdivision (c) of Section 33641, or by any combination thereof.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33643.

33643. Neither the members of an agency nor any persons executing the bonds are liable personally on the bonds by reason of their issuance.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33644.

33644. The bonds and other obligations of any agency are not a debt of the community, the State, or any of its political subdivisions and neither the community, the State, nor any of its political subdivisions is liable on them, nor in any event shall the bonds or obligations be payable out of any funds or properties other than those of the agency; and such bonds and other obligations shall so state on their face. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33645.

33645. The agency may authorize bonds by resolution. The resolution, trust indenture, or mortgage may provide for:
(a)  The issuance of the bonds in one or more series.
(b)  The date the bonds shall bear.
(c)  The maturity dates of the bonds.
(d)  The rate or maximum rate of interest on the indebtedness, which shall not exceed the maximum rate permitted by Section 53531 of the Government Code, and need not be recited if the rate does not exceed 4
1
/
2
percent. The interest may be fixed or variable and may be simple or compound. The interest shall be payable at the time or times determined by the agency.
(e)  The denomination of the bonds.
(f)  Their form, either coupon or registered.
(g)  The conversion or registration privileges carried by the bonds.
(h)  The rank or priority of the bonds.
(i)  The manner of their execution.
(j)  The medium of payment.
(k)  The place of payment.
( l)  The terms of redemption with or without premium to which the bonds are subject.
(m)  The maximum amount of bonded indebtedness in compliance with, and not to exceed, the limit specified in the redevelopment plan as required in Section 33334.1.
The resolution, trust indenture, or mortgage shall provide that tax-increment funds allocated to an agency pursuant to Section 33670 shall not be payable to a trustee on account of any issued bonds when sufficient funds have been placed with the trustee to redeem all outstanding bonds of the issue.
(Amended by Stats. 1987, Ch. 212, Sec. 2. Effective July 23, 1987. See provisions for inoperation in subd. (a) of Section 34189.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33645.5.

33645.5. Notwithstanding Section 33645 or any other provision of law, the rate of interest on any indebtedness or obligation of an agency which is payable to the federal government or any agency or instrumentality thereof or on any such indebtedness or obligation guaranteed by the federal government or any instrumentality thereof may be at a rate higher than the limitation established in Section 33645, or any other law, if such rate is the rate established by the federal government or any instrumentality thereof. Any such indebtedness or obligation shall be in such form and denomination, have such maturity, and be subject to such conditions as may be prescribed by the federal government or agency or instrumentality thereof.
(Added by Stats. 1979, Ch. 29.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33646.

33646. The bonds may be sold at no less than par less a discount of not to exceed 5 percent, at public sale held after notice published once at least five days prior to the sale in a newspaper of general circulation published in the community, or, if there is none, in a newspaper of general circulation published in the county. The bonds may be sold at not less than par to the federal government at private sale without any advertisement.
The amendment to this section made at the 1969 Regular Session of the Legislature shall be applicable to bonds of a redevelopment agency which have been authorized by the agency prior to the effective date of the amendment but which have not been issued prior to such date.
(Amended by Stats. 1969, Ch. 600.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33647.

33647. If any agency member or officer whose signature appears on bonds or coupons ceases to be such member or officer before delivery of the bonds, his signature is as effective as if he had remained in office.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33649.

33649. In any action or proceedings involving the validity or enforceability of any bonds or their security, any such bond reciting in substance that it has been issued by the agency to aid in financing a redevelopment project is conclusively deemed to have been issued for a redevelopment project and the project is conclusively deemed to have been planned, located, and constructed pursuant to this part.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33650.

33650. In connection with the issuance of bonds, and in addition to its other powers, an agency has the powers prescribed in Sections 33651 to 33659, inclusive.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33651.

33651. An agency may:
(a)  Pledge all or any part of its gross or net rents, fees, or revenues to which its right then exists or may thereafter come into existence.
(b)  Encumber by mortgage, deed of trust, or otherwise all or any part of its real or personal property, then owned or thereafter acquired.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33652.

33652. An agency may covenant:
(a)  Against pledging all or any part of its rents, fees, and revenues.
(b)  Against encumbering all or any part of its real or personal property, to which its right or title then exists or may thereafter come into existence.
(c)  Against permitting any lien on such revenues or property.
(d)  With respect to limitations on its right to sell, lease, or otherwise dispose of all or part of any redevelopment project.
(e)  As to what other, or additional debts or obligations it may incur.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33653.

33653. An agency may:
(a)  Covenant as to the bonds to be issued, as to the issuance of such bonds in escrow or otherwise, and as to the use and disposition of the bond proceeds.
(b)  Provide for the replacement of lost, destroyed, or mutilated bonds.
(c)  Covenant against extending the time for the payment of its bonds or interest.
(d)  Redeem the bonds, covenant for their redemption, and provide the redemption terms and conditions.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33654.

33654. An agency may:
(a)  Covenant as to the consideration or rents and fees to be charged in the sale or lease of a redevelopment project, the amount to be raised each year or other period of time by rents, fees, and other revenues, and as to their use and disposition.
(b)  Create or authorize the creation of special funds for money held for redevelopment or other costs, debt service, reserves, or other purposes, and covenant as to the use and disposition of such money.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33655.

33655. An agency may prescribe the procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds whose holders are required to consent thereto, and the manner in which such consent may be given.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33656.

33656. An agency may covenant:
(a)  As to the use of any or all of its real or personal property.
(b)  As to the maintenance of its real and personal property, its replacement, the insurance to be carried on it, and the use and disposition of insurance money.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33657.

33657. An agency may:
(a)  Covenant as to the rights, liabilities, powers, and duties arising upon the breach by it of any covenant, condition, or obligation.
(b)  Covenant and prescribe as to events of default and terms and conditions upon which any or all of its bonds or obligations become or may be declared due before maturity, and as to the terms and conditions upon which such declaration and its consequences may be waived.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33658.

33658. An agency may:
(a)  Vest in a trustee or the holders of bonds or any proportion of them the right to enforce the payment of the bonds or any covenants securing or relating to the bonds.
(b)  Vest in a trustee the right, in the event of a default by the agency, to take possession of all or part of any redevelopment project, to collect the rents and revenues arising from it and to dispose of such money pursuant to the agreement of the agency with the trustee.
(c)  Provide for the powers and duties of a trustee and limit his liabilities.
(d)  Provide the terms and conditions upon which the trustee or the holders of bonds or any proportion of them may enforce any covenant or rights securing or relating to the bonds.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33659.

33659. An agency may:
(a)  Exercise all or any part or combination of the powers granted in Sections 33651 to 33658 inclusive.
(b)  Make covenants other than and in addition to the covenants expressly authorized in such sections of like or different character.
(c)  Make such covenants and to do any and all such acts and things as may be necessary, convenient, or desirable to secure its bonds, or, except as otherwise provided in this part, as will tend to make the bonds more marketable notwithstanding that such covenants, acts, or things may not be enumerated in this part.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33660.

33660. In addition to all other rights which may be conferred on him, and subject only to any contractual restrictions binding upon him, an obligee may:
(a)  By mandamus, suit, action, or proceeding, compel the agency and its members, officers, agents, or employees to perform each and every term, provision, and covenant contained in any contract of the agency with or for the benefit of the obligee, and require the carrying out of any or all such covenants and agreements of the agency and the fulfillment of all duties imposed upon it by this part.
(b)  By suit, action, or proceeding in equity, enjoin any acts or things which may be unlawful, or the violation of any of the rights of the obligee.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33661.

33661. By its resolution, trust indenture, mortgage, lease, or other contract, an agency may confer upon any obligee holding or representing a specified amount in bonds, the following rights upon the happening of an event or default prescribed in such resolution or instrument, to be exercised by suit, action, or proceeding in any court of competent jurisdiction:
(a)  To cause possession of all or part of any redevelopment project to be surrendered to any such obligee.
(b)  To obtain the appointment of a receiver of all or part of any redevelopment project of the agency and of the rents and profits from it. If a receiver is appointed, he may enter and take possession of the redevelopment project or any part of it, operate and maintain it, collect and receive all fees, rents, revenues, or other charges thereafter arising from it, and shall keep such money in separate accounts and apply it pursuant to the obligations of the agency as the court shall direct.
(c)  To require the agency and its members and employees to account as if it and they were the trustees of an express trust.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33662.

33662. The bonds are issued for an essential public and governmental purpose, and together with interest on them and income from them are exempt from all taxes.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33663.

33663. Notwithstanding any restrictions on investments contained in any laws, the state and all public officers, municipal corporations, political subdivisions, and public bodies, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business, all insurance companies, insurance associations, and other persons carrying on an insurance business, and all executors, administrators, guardians, conservators, trustees, and other fiduciaries may legally invest any sinking funds, money, or other funds belonging to them or within their control in any bonds or other obligations issued by an agency. Such bonds and other obligations are authorized security for all public deposits. It is one of the purposes of this part to authorize any persons, firms, corporations, associations, political subdivisions, bodies and officers, public and private, to use any funds owned or controlled by them, including, but not limited to, sinking, insurance, investment, retirement, compensation, pension, and trust funds, and funds held on deposit, for the purchase of any such bonds or other obligations. This part does not relieve any person, firm, or corporation from any duty of exercising reasonable care in selecting securities.
(Amended by Stats. 1979, Ch. 730.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 5 - Agency Bonds › Section 33665.

33665. All of the provisions of this article are subject to the limitations of Article 3 (commencing with Section 33620) of this chapter.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 6 - Taxation › Section 33670.5.

33670.5. Section 33670 fulfills the intent of Section 16 of Article XVI of the Constitution. To further carry out the intent of Section 16 of Article XVI of the Constitution, whenever that provision requires the allocation of money between agencies such allocation shall be consistent with the intent of the people when they approved Section 16 of Article XVI of the Constitution. Whenever money is allocated between agencies by means of a comparison of assessed values for different years, that comparison shall be based on the same assessment ratio. When there are different assessment ratios for the years compared, the assessed value shall be changed so that it is based on the same assessment ratio for the years so compared.
(Added by Stats. 1978, Ch. 1207.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 6 - Taxation › Section 33670.9.

33670.9. (a)  For a period of 20 years commencing on July 1, 1996, the Orange County Development Agency shall transfer to the general fund of the County of Orange an amount equal to four million dollars ($4,000,000) a year in two equal installments on June 15 and February 15 of each year. The Orange County Development Agency shall not incur any obligation with respect to loans, advances of money, or indebtedness, whether funded, refunded, assumed, or otherwise, that would impair its ability to make the foregoing transfers or that would cause the foregoing transfers to violate Section 16 of Article XVI of the California Constitution or subdivision (b) of Section 33670. Funds allocated to low- and moderate-income housing pursuant to Section 33334.2 shall not be used for purposes of this section.
(b)  This section shall not take effect unless and until (1) a plan of adjustment is confirmed in Case No. SA-94-22272-JR in the United States Bankruptcy Court for the Central District of California or (2) a trustee is appointed pursuant to Chapter 10 (commencing with Section 30400) of Division 3 of Title 3 of the Government Code.
(Added by Stats. 1995, Ch. 745, Sec. 4. Effective January 1, 1996. Section conditionally operative by its own provisions.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 6 - Taxation › Section 33671.

33671. In any redevelopment plan or in the proceedings for the advance of moneys, or making of loans, or the incurring of any indebtedness (whether funded, refunded, assumed, or otherwise) by the redevelopment agency to finance or refinance, in whole or in part, the redevelopment project, the portion of taxes mentioned in subdivision (b) of Section 33670 may be irrevocably pledged for the payment of the principal of and interest on such loans, advances, or indebtedness.
(Added by Stats. 1963, Ch. 1812.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 6 - Taxation › Section 33671.5.

33671.5. Whenever any redevelopment agency is authorized to, and does, expressly pledge taxes allocated to, and paid into a special fund of, the agency pursuant to Section 33670, to secure, directly or indirectly, the obligations of the agency including, but not limited to, bonded indebtedness and agreements pursuant to subdivision (b) of Section 33401, then that pledge heretofore or hereafter made shall have priority over any other claim to those taxes not secured by a prior express pledge of those taxes.
(Added by Stats. 1989, Ch. 1264, Sec. 9.)
2023 California Code › Health and Safety Code - HSC › DIVISION 24 - COMMUNITY DEVELOPMENT AND HOUSING › PART 1 - COMMUNITY REDEVELOPMENT LAW › CHAPTER 6 - Financial Provisions › ARTICLE 6 - Taxation › Section 33672.

33672. As used in this article the word “taxes” shall include, but without limitation, all levies on an ad valorem basis upon land or real property. As used in this article, “taxes” shall not include any amounts of money deposited in a Sales and Use Tax Compensation Fund pursuant to Section 97.68 of the Revenue and Taxation Code or a Vehicle License Fee Property Tax Compensation Fund pursuant to Section 97.70 of the Revenue and Taxation Code.
(Amended by Stats. 2004, Ch. 211, Sec. 14. Effective August 5, 2004.)