California § 50406.5. 50406.5. (Added by Stats. 1985, Ch. 1001, Sec. 1.3.)

California Statutes

§ 50406.5. — 50406.5. (Added by Stats. 1985, Ch. 1001, Sec. 1.3.)

California § 50406.5.

JurisdictionCalifornia

Code HSCHealth and Safety Code - HSC

Div. 31.DIVISION 31. HOUSING AND HOME FINANCE

Part 2.PART 2. DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT

Ch. 1.CHAPTER 1. Organization of the Department and General Powers

This text of California § 50406.5. (50406.5. (Added by Stats. 1985, Ch. 1001, Sec. 1.3.)) 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. Health and Safety Code - HSC Code § 50406.5. (2026).

Text

(a)Notwithstanding any other provision of law, the department may make advance payments to eligible borrowers and grantees under any loan or grant programs for housing established pursuant to this part, if the department makes all of the following determinations:

(1)The advance payments are necessary to meet the purposes of the housing program.

(2)The advance payments are necessary for the feasibility of the assisted housing.

(3)The use of the advanced funds is adequately regulated by contract or budgetary controls so that the opportunity to accrue interest on the funds is not unnecessarily reduced.

(b)The department may enter into regulatory agreements to ensure that there is adequate financial security for the funds from which those advance payments are made.

Free access — add to your briefcase to read the full text and ask questions with AI

(a)
Notwithstanding any other provision of law, the department may make advance payments to eligible borrowers and grantees under any loan or grant programs for housing established pursuant to this part, if the department makes all of the following determinations:
(1)
The advance payments are necessary to meet the purposes of the housing program.
(2)
The advance payments are necessary for the feasibility of the assisted housing.
(3)
The use of the advanced funds is adequately regulated by contract or budgetary controls so that the opportunity to accrue interest on the funds is not unnecessarily reduced.
(b)
The department may enter into regulatory agreements to ensure that there is adequate financial security for the funds from which those advance payments are made.