§ 33777. — 33777. (Added by Stats. 1975, Ch. 48.)

California § 33777.

• Jurisdiction: California
• Code HSC: Health and Safety Code - HSC
• Div. 24.: DIVISION 24. COMMUNITY DEVELOPMENT AND HOUSING
• Part 1.: PART 1. COMMUNITY REDEVELOPMENT LAW
• Ch. 8.: CHAPTER 8. Redevelopment Construction Loans
• Art. 3.: ARTICLE 3. Bonds and Notes

Text

Any resolution or resolutions authorizing any revenue bonds or any issue of revenue bonds may contain provisions respecting any of the following terms and conditions, which shall be a part of the contract with the holders of the revenue bonds:
(a)
The pledge of all or any part of the revenues, subject to such agreements with bondholders as may then exist.
(b)
The interest and principal to be received and other charges to be charged and the amounts to be raised each year thereby, and the use and disposition of the revenues.
(c)
The setting aside of reserves or sinking funds and the regulation and disposition thereof.
(d)
Limitations on the purposes to which the proceeds of a sale of any issue of revenue bonds, then or thereafter issued, may be applied, and pledging such proceeds to secure the payment of the revenue bonds or any issue of revenue bonds.
(e)
Limitations on the issuance of additional revenue bonds, the terms upon which additional revenue bonds may be issued and secured, and the refunding of outstanding revenue bonds.
(f)
The procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of revenue bonds the holders of which must consent thereto, and the manner in which such consent may be given.
(g)
Limitation on expenditures for operating, administration, or other expenses of the agency.
(h)
Specification of the acts or omissions to act which shall constitute a default in the duties of the redevelopment agency to holders of its revenue bonds, and providing the rights and remedies of such holders in the event of default.
(i)
The mortgaging of any residence and the site thereof for the purpose of securing the bondholders.
(j)
The mortgaging of land, improvements, or other assets owned by a participating party for the purpose of securing the bondholders.

Legislative History

Added by Stats. 1975, Ch. 48.