reglab/statecodes huggingface dataset:
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 3 - Home Financing › Section 52022.

52022. Notwithstanding Section 711 of the Civil Code, any indebtedness incurred pursuant to a mortgage financed under the terms of this part shall be subject to acceleration and the balance owing declared immediately due and payable upon the sale of the home to a purchaser who does not meet the required qualifications for borrowers of subdivision (f) of Section 52020 or any more stringent qualifications as the city or county may require.
(Amended by Stats. 1980, Ch. 466.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 3 - Home Financing › Section 52023.

52023. In providing financing for home mortgages pursuant to this part, a lending institution shall incur no liability in any part based on any policy or procedure which has been adopted by the city or county unless it is contained in the contract between the lending institution and the city or county, its officers, agents or trustees.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52030.

52030. For purposes of this part, a city or county shall have the following powers:
(a)  To issue its bonds to defray, in whole or in part, (1) the costs of acquiring home mortgages or making loans to lending institutions in order to enable them to make home mortgages, (2) the costs of studies and surveys, insurance premiums, underwriting fees, legal, accounting and marketing services incurred in connection with the issuance and sale of bonds, including bond and mortgage reserve accounts; and trustee, custodian and rating agency fees, and (3) such other costs as are reasonably related to the foregoing.
(b)  To sell or otherwise dispose of any home mortgages, in whole or in part, or to loan sufficient funds to any person to defray, in whole or in part, the costs of purchasing home mortgages, so that the revenues and receipts to be derived with respect to the home mortgages, together with any insurance proceeds, reserve accounts and earnings thereon, shall be designed to produce revenues and receipts at least sufficient to provide for the prompt payment at maturity of principal, interest and redemption premiums, if any, upon all bonds issued to finance such costs.
(c)  To pledge any revenues and receipts to be received from or with respect to any home mortgages or loans made to lending institutions pursuant to this part to the punctual payment of bonds authorized under this part, and the interest and redemption premiums, if any, thereon.
(d)  To mortgage, pledge, assign, or grant security interests in any home mortgages, notes, loans made to lending institutions pursuant to this part, or other property in favor of the holder or holders of bonds issued therefor or the trustee for such holder or holders.
(e)  To sell and convey any home mortgages or loans made to lending institutions pursuant to this part, for such prices and at such times as the governing body of the city or county may determine.
(f)  To issue its bonds to refund previously issued bonds in whole or in part at any time.
(g)  To make and execute contracts and other instruments necessary or convenient to the exercise of any of the powers granted herein.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52031.

52031. The exercise of any or all powers granted by this part shall be authorized and the bonds shall be authorized to be issued under this part for the purposes set forth in this part, by resolution or ordinance of the governing body of the city or county which shall take effect immediately upon adoption. Any such resolution or ordinance shall set forth a finding and declaration (1) of the public purpose therefor and (2) that such resolution or ordinance is being adopted pursuant to the powers granted by this part. The finding and declaration shall be conclusive evidence of the existence and sufficiency of the public purpose and powers.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52032.

52032. The bonds shall bear interest at such rate or rates, may be payable at such times, may be in one or more series, may bear such date or dates, may mature at such time or times not exceeding 45 years from their respective dates, may be payable in such medium of payment at such place or places, may carry such registration privileges, may be subject to such terms of redemption at such premiums, may be executed in such manner, may contain such terms, covenants and conditions and may be in such form, either coupon or registered, as the resolution authorizing the bonds may provide. The bonds may be sold at public or private sale in such manner and upon such terms as may be provided in such resolution or by separate resolution. Pending the preparation of definitive bonds, interim receipts or certificates in such form and with such provisions as may be provided in such resolution, may be issued to the purchaser or purchasers of bonds sold pursuant to this part. The bonds and interim receipts or certificates shall be deemed to be securities and negotiable instruments within the meaning and for all purposes of the Uniform Commercial Code of this state, subject to the provisions for registration thereof contained in such resolution.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52034.

52034. The bonds shall bear the manual or facsimile signatures of such officers of the issuing city or county as may be designated in the resolution authorizing the bonds and such signatures shall be the valid and binding signatures of the officers of the city or county, notwithstanding that before the delivery thereof and payment therefor any or all of the persons whose signatures appear thereon have ceased to be officers of the city or county. The validity of the bonds shall not be dependent on, nor affected by, the validity or regularity of any proceedings relating to the home mortgages for which the bonds are issued. The resolution authorizing the bonds may provide that the bonds shall contain a recital that they are issued pursuant to this part, and the recital shall be conclusive evidence of their validity and of the regularity of their issuance.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52035.

52035. Bonds issued under this part may be secured by a pledge of, or lien upon the revenues and receipts derived from or with respect to the home mortgages or from or with respect to any notes or other obligations of lending institutions with respect to which the bonds have been issued, and the governing body of the issuing city or county may provide in the resolution authorizing such bonds for the issuance of additional bonds to be equally and ratably secured by a lien upon such revenues and receipts.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52036.

52036. Any pledge made to secure bonds shall be valid and binding from the time when the pledge is made. The revenues and receipts or property or interests in property pledged and thereafter received by the issuing city or county, trustee or custodian shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against such city or county, trustee or custodian, irrespective of whether the parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be recorded.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52037.

52037. All bonds issued pursuant to this part shall be limited obligations of the city or county issuing the same, payable solely out of the revenues and receipts derived from or with respect to the home mortgages or from or with respect to any notes or other obligations of lending institutions with respect to which the bonds are issued. No holder of any bonds issued under this part has the right to compel any exercise of the taxing power of a city or county to pay the bonds, the interest or redemption premium, if any, thereon, and the bonds shall not constitute an indebtedness of the issuing city or county or a loan of credit thereof within the meaning of any constitutional or statutory provision, nor shall the bonds be construed to create any moral obligation on the part of the issuing city or county or any agency or subdivision thereof with respect to the payment of such bonds. It shall be plainly stated on the face of each bond that it has been issued under the provisions of this part and that it does not constitute an indebtedness of the city or county issuing the bond or a loan of credit thereof within the meaning of any constitutional or statutory provisions.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52038.

52038. Neither the members of the governing body of a city or county, nor any official or employee of a city or county, nor any person executing bonds issued under this part shall be liable personally on the bonds or be subject to any personal liability or accountability by reason of the issuance thereof.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52039.

52039. Any property or interests in property held by or on behalf of a city or county pursuant to the provisions of this part and any bonds issued under the provisions of this part, their transfer and the income therefrom, shall at all times be free from taxation of every kind by the state and city or county, or other political subdivision of the state, except inheritance and gift taxes.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52040.

52040. Notwithstanding any other provision of law, bonds issued pursuant to this part shall be legal investments for all trust funds, insurance companies, savings and loan associations, investment companies and banks, both savings and commercial, and shall be legal investments for executors, administrators, trustees and all other fiduciaries. Such bonds shall be legal investments for state school funds and for any funds which may be invested in county, municipal or school district bonds, and such bonds shall be deemed to be securities which may properly and legally be deposited with, and received by, any state or municipal officer or by any agency or political subdivision of the state for any purpose for which the deposit of bonds or obligations of the state is now, or may hereafter, be authorized by law, including deposits to secure public funds.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52041.

52041. An action may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure and any other applicable laws of the state to determine the validity of any issuance or proposed issuance of bonds under this part and the legality and validity of all proceedings previously taken or proposed in a resolution of a county or city to be taken for the authorization, issuance, sale and delivery of the bonds and for the payment of the principal thereof and interest thereon.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52042.

52042. A city or county which has issued bonds pursuant to this part or any trustee or custodian on behalf of the city or county, may invest any funds held by it as provided in the resolution authorizing the issuance of the bonds.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52042.5.

52042.5. Investments under Section 52042 may include mortgage obligations on single-family dwellings purchased from a state or federally chartered savings and loan association pursuant to a repurchase agreement under which the bank or savings and loan association will repurchase the mortgage obligation on or before a specified date and for a specified amount, provided that the mortgage or the repurchase agreement shall be insured by a mortgage insurance company licensed to insure mortgages in the State of California and qualified to provide insurance on mortgages purchased by the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association.
The authority provided in this section and Section 52042 is additional and alternative to any other authorization for investment contained in this part, including Section 52044, or in other provisions of law.
(Added by Stats. 1980, Ch. 331.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52043.

52043. All moneys received pursuant to the provisions of this part, whether revenues or proceeds from the sale of revenue bonds or proceeds of mortgage insurance or guarantee claims, shall be deemed to be trust funds to be held and applied solely for the purposes of this part. Any bank or trust company in which such moneys are deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes specified in this part, subject to the terms of the resolution authorizing the revenue bonds.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 4 - Revenue Bonds › Section 52044.

52044. A city or county may provide for the issuance of the revenue bonds of the city or county for the purpose of refunding any revenue bonds of the city or county then outstanding, including the payment of any redemption premiums thereof and any interest accrued or to accrue to the earliest or subsequent date of redemption, purchase, or maturity of such bonds, and, if deemed advisable by the city or county, for the additional purpose of paying all or any part of the cost of additional residential construction.
The proceeds of revenue bonds issued pursuant to this section may, in the discretion of the city or county, be applied to the purchase or retirement at maturity or redemption of outstanding revenue bonds, either at their earliest or any subsequent redemption date or upon the purchase or retirement at the maturity thereof and, pending such application, that portion of the proceeds allocated for such purpose may be placed in escrow, to be applied to such purchase or retirement at maturity or redemption on such date, as may be determined by the city or county. Pending use for purchase, retirement at maturity, or redemption of outstanding revenue bonds, any proceeds held in such an escrow may be invested and reinvested as provided in the resolution authorizing the issuance of the refunding bonds. Any interest or other increment earned or realized on any such investment may also be applied to the payment of the outstanding revenue bonds to be refunded. After the terms of the escrow have been fully satisfied and carried out, any balance of such proceeds and any interest or increment earned or realized from the investment thereof may be returned to the city or county to be used by it for any lawful purpose under this part. That portion of the proceeds of any revenue bonds issued pursuant to this section which is designated for the purpose of paying all or any part of the cost of additional residential construction may be invested and reinvested in obligations of, or guaranteed by, the United States of America or in certificates of deposit or time deposits secured by obligation of, or guaranteed by, the United States of America, maturing not later than the time or times when such proceeds will be needed for the purpose of paying all or any part of such cost.
All revenue bonds issued pursuant to this section shall be subject to the provisions of this part in the same manner and to the same extent as other bonds issued pursuant to this part.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 5 - Miscellaneous Provisions › Section 52051.

52051. The provisions of Chapter 16 (commencing with Section 7260) of Division 7 of Title 1 of the Government Code shall not apply to a mortgagor of any home acquired by foreclosure, trust deed, sale or other proceeding resulting from default on a home mortgage made by a county or city or by a lending institution pursuant to this part.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 5 - Miscellaneous Provisions › Section 52052.

52052. This part is necessary for the health, welfare and safety of the state, its counties and cities and its inhabitants. Therefore, it shall be liberally construed to effect its purposes.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 5 - Miscellaneous Provisions › Section 52053.

52053. (a)  Except as provided in subdivision (b), the powers conferred by this part are in addition and supplemental to, and the limitations imposed by this part shall not affect the powers conferred by, any other law.
(b)  The Legislature finds and declares that the market for municipal home mortgage revenue bonds is limited and that, as a matter of overriding state policy, issuances of such bonds should be limited to financing housing for persons whose housing needs are least satisfied by conventional mortgage financing and other governmental home ownership assistance programs. This part contains appropriate limitations with respect to mortgagor income and also contains provisions which will assist in assuring that no bond issuance under this part will result in any impairment of the public credit in this state.
Therefore, this part shall be the exclusive authority for issuance of revenue bonds by any city, including any charter city, county, or city and county for the purpose of providing long-term mortgage financing for the construction or acquisition of housing, excluding multifamily rental housing and multifamily cooperative housing; provided, that nothing in this subdivision shall supersede any other provision of state law authorizing the provision of long-term mortgage financing by any state agency or local public entity; and provided further, that nothing in this subdivision shall affect, or be in any way applicable to, revenue bonds issued (and loans made with the proceeds thereof) by the Cities of San Bernardino, Burbank, or Pasadena on or before July 1, 1980, the interest on which would be excludable from the gross income of the recipients by reason of the applicable laws of the United States and the regulations promulgated thereunder in effect at the time such revenue bonds are issued, or by any other charter city on or before February 1, 1980, the interest on which would be excludable from the gross income of the recipients by reason of Section 4(b) of the proposed Mortgage Subsidy Bond Tax Act of 1979, as reported by the Committee on Ways and Means of the United States House of Representatives on August 31, 1979. Furthermore, nothing in this subdivision shall affect the authority conferred upon a charter city by its charter to issue revenue bonds to undertake a program of long-term mortgage financing of multifamily rental housing.
(c)  Home mortgages may be acquired, purchased, and financed, and bonds may be issued under this part for purposes of this part, notwithstanding that any other law or resolution may provide for the acquisition, purchase, and financing of like home mortgages, or the issuance of bonds for like purposes, and without regard to the requirements, restrictions, limitations, or other provisions contained in any other law or resolution.
(Amended by Stats. 1980, Ch. 466.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 5 - Miscellaneous Provisions › Section 52054.

52054. If any provision of this part or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of the part which can be given effect without the invalid provision or application, and to this end the provisions of this part are severable.
(Added by Stats. 1979, Ch. 1069.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 6 - California Housing Finance Agency Assistance in Issuing City and County Revenue Bonds for Home Mortgages › Section 52060.

52060. This chapter constitutes an alternative method for cities and counties to issue revenue bonds for providing home mortgages pursuant to the provisions of Chapters 1 (commencing with Section 52000) to 5 (commencing with Section 52051), inclusive.
(Added by Stats. 1980, Ch. 1141.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 6 - California Housing Finance Agency Assistance in Issuing City and County Revenue Bonds for Home Mortgages › Section 52061.

52061. The agency, and any city or county, or a city and a county, may enter into an agreement which provides that the agency sell bonds on behalf of any such city or county, or for such city and such county, for the purpose of providing funds for home mortgages.
(Added by Stats. 1980, Ch. 1141.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 6 - California Housing Finance Agency Assistance in Issuing City and County Revenue Bonds for Home Mortgages › Section 52062.

52062. Any agreement made pursuant to Section 52061 shall contain provisions doing all of the following:
(a)  Limiting the maximum amount of bonds to be issued by a city or county.
(b)  Requiring that the city, or county, or each city and county that is a party to the agreement, not issue additional bonds for home mortgage loans within a period of three years from the date of the bonds issued pursuant to the agreement, or until all of the proceeds of those bonds have been used to make home mortgage loans, without the express written consent of the agency.
(c)  Requiring that all bonds and any prospectus in connection with those bonds contain a legend condition to the following effect: “Neither the faith and credit of the State of California or the agency nor the taxing power of the state is pledged to the payment of principal or interest on this bond.”
(d)  Requiring agency approval of the bond counsel of the city or county, or the bond counsel of each city and county that is a party to the agreement.
(e)  Designating, consistent with the agency’s program for financing residential structures of four units or less authorized by Article 2 (commencing with Section 51125) of Chapter 5 of Part 3 and the regulations adopted pursuant thereto, maximum sales prices of homes, maximum loan amounts for home mortgages involving rehabilitation and refinancing, borrower eligibility criteria, geographic areas where loans can be made, insurance requirements, the minimum percentage of bond proceeds to be utilized for home mortgages involving new construction and rehabilitation and the amount to be allocated to a bond reserve fund.
(Amended by Stats. 1996, Ch. 833, Sec. 14. Effective January 1, 1997.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 6 - California Housing Finance Agency Assistance in Issuing City and County Revenue Bonds for Home Mortgages › Section 52063.

52063. Any agreement pursuant to Section 52061 may provide any or all of the following:
(a)  That the agency will provide, either directly or through agency approved lending institutions, for the origination and servicing of home mortgage loans.
(b)  For the payment of fees and expenses in connection with the issuing of bonds.
(c)  For any matter described in Section 51355 relating to agency bonds.
(Added by Stats. 1980, Ch. 1141.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 6 - California Housing Finance Agency Assistance in Issuing City and County Revenue Bonds for Home Mortgages › Section 52064.

52064. Subject only to the other provisions of this chapter and to any agreement between the agency and city or county, the provisions of Chapter 4 (commencing with Section 52030) shall be applicable to any issuer and to any bonds issued pursuant to the authority of this chapter.
(Added by Stats. 1980, Ch. 1141.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 6 - California Housing Finance Agency Assistance in Issuing City and County Revenue Bonds for Home Mortgages › Section 52065.

52065. Bonds issued pursuant to this chapter shall not be deemed issues of the agency for any purpose, including being counted within any calculation of the agency’s bonding authority limitations now or hereafter established by law.
(Added by Stats. 1980, Ch. 1141.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 6 - California Housing Finance Agency Assistance in Issuing City and County Revenue Bonds for Home Mortgages › Section 52066.

52066. Bonds of more than one city or county may be pooled for purposes of issuance and bond proceeds, reserved or other security for the bonds, including, but not limited to, loan or loan participation, made or derived from bond proceeds, may likewise be pooled to secure the issuance of any such bonds.
(Added by Stats. 1980, Ch. 1141.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 1 - Financing › Section 52075.

52075. (a)  Subject to the limitations of this chapter, any city or county may, in addition to any other power conferred by this part, issue revenue bonds as provided in Chapter 4 (commencing with Section 52030) for the purpose of financing the acquisition, construction, rehabilitation, refinancing, or development of multifamily rental housing and for the provision of capital improvements in connection with and determined necessary to that multifamily rental housing.
(b)  For this purpose, the term “home mortgage,” as used in Chapter 4 (commencing with Section 52030), and as defined by Section 52013, shall be further defined to include construction loans and mortgage loans to housing sponsors to finance the acquisition, construction, rehabilitation, refinancing, or development of multifamily rental housing and for the provision of capital improvements in connection with and determined necessary to the multifamily rental housing.
(c)  To the extent possible, Chapter 4 (commencing with Section 52030) shall be construed in a manner that enables a city or county to comply with the purpose and requirements of this chapter.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 1 - Financing › Section 52075.1.

52075.1. As used in this chapter, “city or county” includes any city and county.
(Amended by Stats. 2003, Ch. 62, Sec. 189. Effective January 1, 2004.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 1 - Financing › Section 52076.

52076. Subject to the limitations prescribed in this chapter, a city or county may make, or undertake commitments to make, construction loans and mortgage loans to housing sponsors to finance the acquisition, construction, rehabilitation, refinancing, or development of multifamily rental housing. For this purpose, the city or county shall enter into regulatory contracts and other agreements with housing sponsors receiving loans under this chapter to assure all requirements of this chapter are satisfied.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 1 - Financing › Section 52077.

52077. Subject to the limitations prescribed in this chapter, a city or county may purchase, or undertake, directly or indirectly through lending institutions, commitments to purchase, construction loans and mortgage loans originated in accordance with a financing agreement with the city or county to finance the acquisition, construction, rehabilitation, refinancing, or development of multifamily rental housing and may make loans to lending institutions under terms and conditions which, in addition to other provisions determined by the city or county, shall require the lending institutions to use the net proceeds of the loans for the making, directly or indirectly, of construction loans or mortgage loans to finance the acquisition, construction, rehabilitation, refinancing, or development of multifamily rental housing.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 1 - Financing › Section 52078.

52078. For the purposes of this chapter, a city or county shall have the power to issue its bonds to defray, in whole or in part, the costs of studies and surveys, insurance premiums, underwriting fees, legal, accounting, and marketing services incurred in connection with the issuance and sale of bonds, including bond and mortgage reserve accounts; trustee, custodian, and rating agency fees, and any other costs which are reasonably related to the foregoing.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 1 - Financing › Section 52079.

52079. A city or county may, in conjunction with the financing of multifamily rental housing pursuant to this chapter, finance the acquisition, construction, rehabilitation, refinancing, or development of commercial property for lease, subject to all of the following conditions:
(a)  No more than 10 percent of the proceeds of any revenue bonds issued pursuant to this chapter may be used to develop the commercial property for lease.
(b)  The commercial property developed will be located on the same parcel or on a parcel adjacent to a multifamily rental housing development.
(c)  As a condition of the financing, any lease payments collected in excess of payments necessary for debt service, operating expenses and any required reserves related to that property, shall be used to reduce rents on units reserved for occupancy by lower income households and very low income households in a multifamily rental housing development.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 1 - Financing › Section 52080.5.

52080.5. (a)  (1)  When refunding revenue bonds for multifamily housing which were previously issued pursuant to Section 52080, the city, county, or city and county shall ensure that rental units required, by this chapter or by applicable federal law at the time the original bonds were issued, to be reserved for occupancy for low- and very low income households shall remain occupied by, or made available to, those persons at least until the later of the following:
(A)  The date originally so required.
(B)  As long as any bonds remain outstanding with respect to the development.
(2)  For bonds previously issued to finance a development where all of the units, other than management units, are, at the time of the refunding, subsidized by a housing assistance payments contract for new construction and substantial rehabilitation pursuant to Section 8 of the United States Housing Act of 1937 (42 U.S.C. Sec. 1437f), subparagraph (B) of paragraph (1) shall refer to a period of time until the termination of the contract.
(b)  The city, county, or city and county may determine that the period set forth in paragraph (1) of subdivision (a) shall not apply to the refunding of previously issued revenue bonds for which there is a mandatory redemption or acceleration as a result of default under the terms of the existing loan agreement or other security documents.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 1 - Financing › Section 52081.

52081. For purposes of this article, “housing sponsor” means a person as defined in Section 52016.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 1 - Financing › Section 52085.

52085. The primary purpose of this chapter is to meet the multifamily rental housing needs of persons and families of low or moderate income. The exercise of the powers granted by this division shall be in all respects for the benefit of the people of this state and for their health and welfare. Therefore, any bonds issued by a city, county, or city and county pursuant to this chapter, their transfer, and the income therefrom shall at all times be free from taxation by the state or any political subdivision or other instrumentality of the state, excepting inheritance and gift taxes.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 1 - Financing › Section 52086.

52086. Two or more cities in the same county, or a county and one or more cities within the county, or two or more counties, may enter into an agreement to join or cooperate with one another in the exercise jointly, or otherwise, of any or all of their powers for the purpose of financing multifamily rental housing development pursuant to this chapter.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 1 - Financing › Section 52087.

52087. The same notice requirements specified in Section 65863.10 of the Government Code shall apply to multifamily rental housing that receives financial assistance pursuant to this chapter.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 2 - State Assistance › Section 52090.

52090. This article constitutes an alternative method for cities and counties to issue bonds for making construction loans and mortgage loans for multifamily rental housing developments pursuant to the provisions of this chapter.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 2 - State Assistance › Section 52090.5.

52090.5. The agency and any city or county may enter into an agreement which provides that the agency may sell bonds authorized pursuant to Chapter 4 (commencing with Section 52030) for the city or county and operate a program with the proceeds of the sale for the purpose of providing funds for construction loans and mortgage loans for multifamily rental housing developments within the city or county and for the provision of capital improvements in connection with and determined necessary to the multifamily rental housing.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 2 - State Assistance › Section 52091.

52091. Any agreement made pursuant to Section 52090.5 shall contain all of the following provisions:
(a)  Limitations on the maximum amount of bonds to be issued by a city or county.
(b)  A requirement that all bonds and any prospectus in connection with the bonds contain a legend condition to the following effect: “Neither the faith and credit of the State of California or the agency nor the taxing power of the state is pledged to the payment of principal or interest on this bond.”
(c)  A requirement that the agency approve the bond counsel selected by the city or county.
(d)  The designation of criteria for multifamily rental housing developments eligible for financing; the number of units which shall be available for occupancy by persons of low income, which shall not be less than 20 percent of the total units; the amount to be allocated to a bond reserve fund; and, any other matters which the agency finds necessary or desirable.
(e)  That the agency shall make construction loans and mortgage loans for multifamily rental housing developed within the city or county.
(f)  That the agency shall supervise all construction and management of multifamily rental housing developments financed pursuant to this chapter on behalf of the city or county, and with the same powers and duties under this chapter, to ensure that all requirements of this part are met.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 2 - State Assistance › Section 52091.5.

52091.5. Bonds issued pursuant to this article shall not be deemed bonds of the agency for the purposes of any limitations contained in Section 51350.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 2 - State Assistance › Section 52092.

52092. The agency shall adopt uniform regulations for administration of local programs under this article. Local programs conducted by the agency under this article shall be administered in a manner consistent with this chapter.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 3 - Miscellaneous › Section 52095.

52095. Whenever a complaint is received concerning a violation of the restrictions imposed pursuant to Section 52080, the city or county shall investigate promptly and make a report to the complaining party on whether the violation existed and whether it persists, and if it persists, what action the city or county will take to remedy the violation. When the city or county determines that a violation exists, whether determined upon an investigation of a complaint or on its own motion, the city or county shall take all appropriate action, including necessary legal action, to promptly eliminate the violation.
Notwithstanding any provision of this section, any person aggrieved by a violation may seek a judicial remedy without regard to whether a complaint has been made to the city or county or whether the city or county is then taking any action to remedy the violation.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 4 - Application to Chartered Cities › Section 52097.

52097. Except as otherwise provided in this article, this chapter shall not be construed to limit or otherwise restrict the authority of chartered cities to issue bonds for the purpose of financing the acquisition, construction, rehabilitation, refinancing, or development of multifamily rental housing or for the provision of capital improvements in connection with and determined necessary to that multifamily rental housing. For purposes of this article, certificates of participation in any form of obligation of a city, county, or city and county shall be considered to be bonds.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 4 - Application to Chartered Cities › Section 52097.5.

52097.5. (a)  Multifamily rental housing development financed, or for which financing has been extended or committed, pursuant to this chapter from the proceeds of sale of each bond issue shall at all times during the qualified project period meet the requirement of paragraph (1) or (2), whichever is elected by the issuer at the time of issuance of the issue for each development:
(1)  Twenty percent or more of the residential units in the development shall be occupied by individuals whose income is 50 percent or less of area median income.
(2)  Forty percent or more of the residential units in the development shall be occupied by individuals whose income is 60 percent or less of area median income.
As used in this subdivision, “qualified project period,” “income,” and “area median income” shall have the meanings specified in, and shall be determined in accordance with the provisions of, subsection (d) of Section 142 of the Internal Revenue Code of 1986, as amended, and United States Treasury regulations and rulings promulgated pursuant thereto.
(b)  With respect to a development for which the issuer has elected to meet the requirement of paragraph (1) of subdivision (a), the rental payments paid by the occupants of the units meeting the requirement of paragraph (1) of subdivision (a) (excluding any supplemental rental assistance from the state, the federal government, or any other public agency to those occupants or on behalf of those units) shall not exceed 30 percent of 50 percent of area median income.
(c)  With respect to a development for which the issuer has elected to meet the requirement of paragraph (2) of subdivision (a), the rental payments paid by the occupants of the units meeting the requirement of paragraph (2) of subdivision (a) (excluding any supplemental rental assistance from the state, the federal government, or any other public agency to those occupants or on behalf of those units) shall not exceed 30 percent of 60 percent of area median income.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 7 - Multifamily Rental Housing › ARTICLE 4 - Application to Chartered Cities › Section 52098.

52098. Each city, county, and city and county that has issued bonds pursuant to this chapter or a charter provision or ordinance for the purposes specified in Section 52097 shall file a report annually, on or before March 1, with the Governor, the Legislature, and the department, which report shall include all of the following information:
(a) The total amount of bonds issued by the city, county, or city and county pursuant to this chapter or another authority.
(b)  The total number of units in multifamily rental housing developments financed pursuant to this chapter or another authority.
(c)  The total number of units in multifamily rental housing developments reserved for occupancy on a priority basis for lower income households.
(d)  The total number of units, if any, in a multifamily rental housing development reserved for occupancy on a priority basis for very low income households.
(Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.)
2023 California Code › Health and Safety Code - HSC › DIVISION 31 - HOUSING AND HOME FINANCE › PART 5 - LOCAL HOUSING FINANCE AGENCIES › CHAPTER 8 - Loans to Tax-Exempt Organizations › Section 52100.

52100. The Legislature hereby finds and declares that it would be beneficial to empower counties and cities to issue tax-exempt revenue bonds for the purpose of lending the proceeds to nonprofit organizations exempt from federal income taxation pursuant to Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (26 U.S.C. Sec. 501(c)(3)), for the housing purposes specified in Section 52101.
(Added by Stats. 1988, Ch. 1610, Sec. 4.)