California § 53087.5. 53087.5. (Added by Stats. 1995, Ch. 385, Sec. 1.)

California Statutes

§ 53087.5. — 53087.5. (Added by Stats. 1995, Ch. 385, Sec. 1.)

California § 53087.5.

JurisdictionCalifornia

Code GOVGovernment Code - GOV

Div.2.

Title 5.DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES

Part 1.PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES

Ch. 1.CHAPTER 1. General

Art. 4.ARTICLE 4. Miscellaneous

This text of California § 53087.5. (53087.5. (Added by Stats. 1995, Ch. 385, Sec. 1.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Government Code - GOV Code § 53087.5. (2026).

Text

A loan or expenditure of funds by a local public entity, including a charter city, to upgrade or improve privately owned property for purposes of seismic safety or retrofitting, where the provision of funds creates or can create a lien on the property, shall not, when combined with existing liens on the property, exceed 80 percent of the current appraised value of the property, as determined by an independent, certified appraiser, unless the existing lienholders consent in writing to a higher loan-to-value ratio.  Notice of the intention to provide financing to the owner of the property shall be given to existing lienholders of record not less than 30 days prior to any vote of the local agency authorizing the provision of financing to the owner of the property.

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A loan or expenditure of funds by a local public entity, including a charter city, to upgrade or improve privately owned property for purposes of seismic safety or retrofitting, where the provision of funds creates or can create a lien on the property, shall not, when combined with existing liens on the property, exceed 80 percent of the current appraised value of the property, as determined by an independent, certified appraiser, unless the existing lienholders consent in writing to a higher loan-to-value ratio. Notice of the intention to provide financing to the owner of the property shall be given to existing lienholders of record not less than 30 days prior to any vote of the local agency authorizing the provision of financing to the owner of the property.