§ 94192. — 94192. (Amended by Stats. 2022, Ch. 572, Sec. 27.)

California § 94192.

• Jurisdiction: California
• Code EDC: Education Code - EDC
• Div.: 10.
• Title 3.: DIVISION 10. PRIVATE POSTSECONDARY AND HIGHER EDUCATION INSTITUTIONS
• Part 59.: PART 59. PRIVATE POSTSECONDARY AND HIGHER EDUCATION INSTITUTIONS
• Ch. 2.: CHAPTER 2. California Educational Facilities Authority Act
• Art. 7.: ARTICLE 7. Construction of Facilities

Text

For the purpose of obtaining and securing loans under Section 94191, every participating private college, participating nonprofit entity, or university applicant shall, notwithstanding any other law, have power to mortgage and pledge any of its real or personal property, and to pledge any of its income from whatever source to repay the principal of and interest on any loan made to it by the authority or to pay the interest on and principal and redemption premium, if any, of any note, bond, or other evidence of indebtedness evidencing the
debt created by that loan; provided that the foregoing shall not be construed to authorize actions in conflict with specific legislation, trusts, endowment, or other agreements relating to specific properties or funds.

Legislative History

Amended by Stats. 2022, Ch. 572, Sec. 27. (AB 190) Effective September 27, 2022.