California

Health and Safety Code - HSC

17,661 sections, each with the official text and a plain-English explanation of what it means for you.

• § 51626 — The insurance fund shall be organized as a public enterprise fund.
• § 51627 — The assets of the insurance fund shall be applicable to the payment of losses sustained on account of insurance and to the payment of the salaries and other expenses charged against it in accordance w
• § 51628 — The agency shall, after a reasonable time during which it may establish a business, be competitive with other insurers, and it is the intent of the Legislature that the insurance fund shall ultimately
• § 51632 — Claims arising out of activities of the agency on behalf of the insurance fund pursuant to this part are exempted from the provisions of Part 3 (commencing with Section 900) of Division 3.
• § 51636 — Except as provided in this part, the agency, on behalf of the insurance fund pursuant to this part, shall not be subject to the provisions of the Government Code made applicable to state agencies gene
• § 51637 — With respect to the administration of the insurance fund, the agency shall be subject to the provisions of Chapter 10.
• § 51639 — The agency shall establish reserve accounts for unearned premiums, losses, and potential catastrophic losses caused by economic cycles.
• § 51640 — There is hereby continued in existence a bond insurance reserve account in the insurance fund to secure commitments under contracts to insure bonds.
• § 51641 — The agency may create other accounts within the insurance fund as it deems are necessary or convenient to carry out the purposes of this part.
• § 51642 — (a) The obligation of the agency and of the state to pay any insurance benefit pursuant to contracts of insurance insuring loans or bonds shall not exceed amounts deposited in the insurance fund that
• § 51643 — The agency shall not be required to pay any tax or assessment on any property owned by the fund or upon the income therefrom.
• § 51643.5 — (a) The agency shall be subject to, and comply with, the same reserve certification requirements as mortgage guaranty insurers who are licensed pursuant to Chapter 2A (commencing with Section 12640.
• § 51645 — The agency shall establish priorities for the allocation of loan-insurance assistance in accordance with the purposes and general provisions of Chapter 2 (commencing with Section 50950) of Part 3 of t
• § 51647 — The agency shall establish and maintain separate accounts in the insurance fund for a single-family mortgage guaranty insurance program and a multifamily residential mortgage guaranty insurance progra
• § 51648 — While maintaining the actuarial soundness of the fund, the agency shall make efforts to do both of the following: (a) Equitably distribute insurance based on a regionalized basis, weighted in accordan
• § 51650 — (a) (1) To be qualified for loan insurance, a borrower shall be, or by reason of a loan insured pursuant to this part shall become, the owner of a multifamily rental housing development or a single-fa
• § 51651 — (a) The agency shall specify the percentage of the outstanding principal indebtedness that may be insured under this part with respect to each category of loan authorized to be insured under this part
• § 51652 — Loans insured under this part shall meet all of the following requirements: (a) The loans shall be made for a period acceptable to the agency not to exceed 40 years.
• § 51653 — Notwithstanding any other provision of law, any rental housing development which is financed from mortgages insured pursuant to this part is exempt from both of the following: (a) Any local government
• § 51654 — The agency may provide insurance pursuant to this part for all of the following: (a) Loans for residential structures that will be occupied primarily by persons and families of low or moderate income.
• § 51655 — Subject to this part, the agency may insure or guarantee loans made by qualified mortgage lenders for the purposes described in Section 51320.
• § 51656 — Notwithstanding any other provision of this part, the agency may establish a program of insuring reverse mortgages as authorized by resolution of the board.
• § 51657 — (a) The agency shall establish, and may from time to time revise, after public hearings, a schedule of insurance premium rates.
• § 51658 — (a) The agency shall establish procedures to be followed by approved lending institutions in the event of default on a loan insured under this part.
• § 51659 — In the event of a default on an insured loan not secured by a first mortgage, the agency may, in lieu of proceeding under Section 51658, acquire the insured loan and any security therefor upon payment
• § 51660 — The agency may initiate programs of coinsurance or reinsurance with, and may procure reinsurance from, any state agency, local agency, agency of the United States, or private mortgage insurer in order
• § 51661 — The agency may provide for, and require attendance at, homeownership counseling and training courses as a condition to the insurance of loans for the purchase or refinancing of residential structures
• § 51662 — The agency may commence any action to protect or enforce any right conferred upon it by any law, mortgage, contract of insurance, or any other agreement.
• § 51670 — (a) The agency may insure bonds issued by state or local agencies, or other types of issuers approved by the board of directors of the agency, to finance or refinance the construction, rehabilitation,
• § 51671 — The agency may insure bonds pursuant to this chapter only if it determines that the proceeds of the bonds will be utilized, to the maximum extent feasible, for one of the following purposes: (a) Const
• § 51680 — The agency may administer a loan loss guarantee program in order to induce private lenders to make construction loans for seismic rehabilitation improvements which are designed to increase seismic str
• § 51681 — (a) Except as provided in subdivision (b), the agency shall only issue rehabilitation loan loss guarantees on single-family homes or on buildings with five or more residential units and where any comm
• § 51683 — The agency may issue a loan loss guarantee in the amount of 25 percent of the actual loss of a loan guaranteed under this section.
• § 51684 — (a) The agency shall collect a premium for a loan loss guarantee as provided in Section 51657.
• § 51685 — Moneys transferred to the insurance fund under this section may be used to create reserves for loan loss guarantees authorized by this chapter and for the initial administrative expenses of the progra
• § 51685.5 — (a) Notwithstanding any other provision of law, the California Housing Insurance Fund may borrow one million eight hundred thousand dollars ($1,800,000) from the Local Agency Indebtedness Fund, establ
• § 51686 — In addition to the powers expressly granted by this chapter, the agency shall have all the powers granted under this part in administering this program which are not inconsistent with this chapter.
• § 51687 — This chapter shall be inoperative if moneys are not transferred to the fund pursuant to Section 51685.
• § 52000 — The Legislature finds and declares that the subject of housing is of vital importance to the health, safety, and welfare of the residents of this state, for the following reasons: (a) Decent housing i
• § 52001 — The Legislature finds and declares that there exists within the state a serious shortage of decent, safe, and sanitary housing which is affordable to many persons in the state.
• § 52002 — The Legislature finds and declares that it is necessary and essential that counties and cities be authorized to directly or indirectly make long-term, low-interest loans to persons not presently eligi
• § 52003 — The Legislature finds and declares that in order to preserve a healthy housing market and avoid a two-tier market where publicly subsidized mortgage capital supplants mortgage capital supplied by priv
• § 52004 — The Legislature finds and declares that the present shortage of decent, safe, and sanitary housing available to potential purchasers in the lower end of the buying spectrum is particularly inimical to
• § 52005 — The Legislature finds and declares that the revenue bonds provided for in this part are to be used to complement and not compete with home loans made from private sector sources, so as to substantiall
• § 52006 — The Legislature finds and declares that the authority to issue revenue bonds to aid in the financing of home purchase is needed in the cities and the counties of the state and that it is in the public
• § 52007 — The Legislature finds and declares that the establishment of basic procedures for the issuance of revenue bonds to finance the purchase of residential housing and the costs of home ownership is necess
• § 52008 — The Legislature finds and declares that the construction of federally assisted housing for persons and families of low or moderate income is not a primary purpose of this part.
• § 52009 — The Legislature finds and declares all of the following: (a) The ownership and occupancy of a home is a fundamental element in the fabric of the American way of life.
• § 52010 — Unless otherwise indicated by the context, the definitions contained in this chapter shall govern the construction of this part.
• § 52011 — “Bonds” means the revenue bonds authorized under this part and includes notes and any and all other limited obligations or evidences of indebtedness payable as provided in this part.
• § 52011.5 — “City” or “county” includes a city and county and also includes any agency created by a joint powers agreement under Article 1 (commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of t
• § 52012 — “Home” means real property and improvements thereon consisting of a single dwelling unit and which is owned by a mortgagor who occupies or intends to occupy the unit.
• § 52012.5 — For purposes of this chapter, “first-time homebuyer” means a person who is a purchaser of an owner-occupied housing unit and who neither has, nor has had, a present ownership in a principal residence
• § 52013 — (a) “Home mortgage” or “mortgage” means an interest-bearing loan made as provided in this part to a mortgagor, whether originated in the manner provided in subdivision (a) or (b) of Section 52020 that
• § 52013.5 — (a) “Home mortgage” or “mortgage” means an interest-bearing loan made as provided in this part to a mortgagor, whether originated in the manner provided in subdivision (a) or (b) of Section 52020.
• § 52014 — “Lending institution” means any bank, trust company, savings bank, national banking association, savings and loan association, building and loan association, mortgage banker, or other financial instit
• § 52015 — “Mortgagor” means a person or persons who have received a home mortgage on a home and who are deemed by a city or county conducting a program under this part to be a person or family of low or moderat
• § 52015.5 — “Mortgagor” means a person or persons who have received a home mortgage on a home and who are deemed by the City of Gardena under this part to be either a person or family of low or moderate income or
• § 52016 — “Person” means any individual, partnership, copartnership, firm, company, corporation, limited liability company, lending institution, association, joint stock company, trust, estate, political subdiv
• § 52020 — (a) For purposes of a home financing program authorized by this part, a city or county has the following powers and duties: (1) To acquire, contract, and enter into advance commitments to acquire home
• § 52020.5 — (a) For purposes of a home financing program authorized by this part, the City of Gardena has the following powers and duties: (1) To acquire, contract, and enter into advance commitments to acquire,
• § 52021 — A home financing program authorized by this part shall not be implemented unless the program complies with the land use element and the housing element which is required to be included in the general
• § 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 im
• § 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 count
• § 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
• § 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 ordi
• § 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 fr
• § 52033 — Any resolution authorizing the issuance of the bonds may contain covenants as to (1) the use and disposition of the revenues and receipts from or with respect to any home mortgages or loans to lending
• § 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 val
• § 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 obli
• § 52036 — Any pledge made to secure bonds shall be valid and binding from the time when the pledge is made.
• § 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 mor
• § 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
• § 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 in
• § 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
• § 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 o
• § 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
• § 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 agreemen
• § 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 tr
• § 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
• § 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 othe
• § 52052 — This part is necessary for the health, welfare and safety of the state, its counties and cities and its inhabitants.
• § 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
• § 52053.5 — Notwithstanding subdivision (b) of Section 52053 or any of the limitations of this part: (a) A charter city having seven community development districts established for purposes of Section 105(a)(8) o
• § 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 give
• § 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
• § 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
• § 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.
• § 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
• § 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
• § 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 here
• § 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, mad
• § 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 520
• § 52075.1 — As used in this chapter, “city or county” includes any city and county.
• § 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
• § 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
• § 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, lega
• § 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 co
• § 52080 — (a) (1) 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 tim
• § 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 th
• § 52081 — For purposes of this article, “housing sponsor” means a person as defined in Section 52016.
• § 52085 — The primary purpose of this chapter is to meet the multifamily rental housing needs of persons and families of low or moderate income.
• § 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
• § 52087 — The same notice requirements specified in Section 65863.
• § 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 provi
• § 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
• § 52091 — Any agreement made pursuant to Section 52090.
• § 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.
• § 52092 — The agency shall adopt uniform regulations for administration of local programs under this article.
• § 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
• § 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 acqui
• § 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 dur
• § 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 o
• § 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 organization
• § 52101 — A city or county may issue bonds to provide funds to be loaned by the city or county to nonprofit organizations exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code
• § 52102 — (a) Occupancy and rent restrictions with respect to housing acquired pursuant to this chapter shall either meet the requirements of subparagraphs (A) and (B) of paragraph (1) or the requirements of pa
• § 52103 — A city or county may, in conjunction with the financing of multifamily rental housing pursuant to this chapter, finance the acquisition of commercial property for lease, subject to all of the followin
• § 52104 — Whenever a complaint is received concerning a violation of the restrictions imposed pursuant to Section 52102, the city or county shall investigate promptly and make a report to the complaining party
• § 52105 — 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, and
• § 52106 — (a) Bonds issued pursuant to this chapter shall be repayable solely from payments of principal and interest on account of the loans funded thereby.
• § 52500 — This part shall be known and may be cited as the Cal-First Home Buyers Act.
• § 52501 — This part shall be administered by the California Housing Finance Agency and all of the provisions of Part 3 (commencing with Section 50900) which are not inconsistent with the provisions of this part
• § 52502 — The First-Time Home Buyers Policy Committee is hereby created within the agency for the purpose of exercising those powers and responsibilities of the agency as specifically set forth in this division
• § 52503 — The policy committee is comprised of five voting members, including a chairperson.
• § 52504 — The First-Time Home Buyers Fund is hereby created in the State Treasury.
• § 52505 — In addition to the purposes of the agency provided in Sections 50154 and 50950, a purpose and role of the agency is to make financing opportunities available to first-time home buyers in this state, i
• § 52506 — The agency shall have the power to adopt, and from time to time to amend and repeal, by action of the policy committee, rules and regulations, not inconsistent with the provisions of this part, to car
• § 52510 — The agency may contract with qualified mortgage lenders with respect to mortgage loans qualified under this part to pay to such lenders, subject to the provisions of Section 52513, a sum of money as c
• § 52511 — The agency may make commitments to qualified mortgage lenders to make contracts for buy-down mortgage plans which conform to this part.
• § 52512 — The mortgage loan by a qualified mortgage lender for which a buy-down contract may be executed by the agency shall be in such form as determined by the regulations of the agency adopted by the policy
• § 52513 — The terms of the contract with a qualified mortgage lender for the buy-down mortgage plan shall be established by regulations of the agency adopted by the policy committee.
• § 52513.5 — (a) If: (1) a loan executed pursuant to Section 52512 is for a term of less than 30 years or provides for a balloon payment; (2) the loan has not been prepaid in full or the property has not been sold
• § 52514 — In consideration for the agency’s contract, and performance of contract, to purchase a buy-down of the effective interest to the borrower on the mortgage loan, the agency shall obtain a note and deed
• § 52514.5 — All payments to the agency by the borrower on any note executed pursuant to Section 52514 shall be considered payments of interest for the purposes of Section 17230 of the Revenue and Taxation Code.
• § 52515 — The real property to be purchased by the borrower on a mortgage loan pursuant to this part shall be an owner-occupied housing unit, the acquisition price of which does not exceed 90 percent of the ave
• § 52516 — The agency shall establish by regulation, adopted by the policy committee, standards for the eligibility of purchasers of housing subject to this part.
• § 52517 — Notwithstanding any other provisions of this part, only mortgage loans are eligible for buy-down under the provisions of this part which are presently, or are expected to be, insured in whole or part
• § 52518 — Notwithstanding the provisions of Section 711 of the Civil Code, the agency shall not permit the assumption of the obligation under any note or mortgage securing the interest of the agency pursuant to
• § 52519 — The agency may renegotiate, refinance, foreclose, or contract for the foreclosure of any mortgage executed pursuant to Section 52514 which is in default, and may waive any default or consent to the mo
• § 52525 — This chapter shall be known and may be cited as the First-Time Home Buyers Bond Act of 1982.
• § 52526 — The State General Obligation Bond Law is adopted for the purpose of the issuance, sale and repayment of, and otherwise providing with respect to, the bonds authorized to be issued by this chapter, and
• § 52527 — The First-Time Home Buyers Finance Committee is hereby created.
• § 52528 — The committee is hereby authorized and empowered to create a debt or debts, liability or liabilities, of the State of California, in the aggregate of fifteen million dollars ($15,000,000), in the mann
• § 52529 — The committee, upon the request of the board stating the purposes for which the bonds are proposed to be used and the amount of the proposed issuance, shall determine whether or not it is necessary or
• § 52529.5 — Notwithstanding the provisions of Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code, the policy committee may, whenever it deems it necessary to effec
• § 52530 — All bonds herein authorized, which shall have been duly sold and delivered as herein provided, shall constitute valid and legally binding general obligations of the State of California, and the full f
• § 52531 — There is hereby appropriated from the General Fund in the State Treasury for the purpose of this chapter such an amount as will equal the following: (a) Such sum annually as will be necessary to pay t
• § 52532 — For the purpose of carrying out the provisions of this chapter, the Director of Finance may by executive order authorize the withdrawal from the General Fund of an amount or amounts not to exceed the
• § 52532.5 — Notwithstanding any other provision of this bond act, or of the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code),
• § 52533 — Money in the First-Time Home Buyers Fund may only be expended for projects specified in this chapter.
• § 52533.5 — Notwithstanding any other provision of law, the agency shall have no authority to make mortgages or to incur debt pursuant to this part after the date of the approval of the California Housing and Job
• § 52533.6 — This part shall remain in effect only until the Director of Finance certifies, in writing, to the Secretary of State that all mortgages made, and all debts incurred, pursuant to this part on or before
• § 52535 — The Legislature finds and declares as follows: (a) A significant amount of housing built to serve lower income households and very low income households and families is starting to disappear from the
• § 52540 — The following definitions shall govern the construction and interpretation of this part: (a) “Corporation” means a corporation formed pursuant to Section 52550.
• § 52550 — (a) A nonprofit corporation may be formed to carry out the purposes of this part.
• § 52551 — (a) (1) The Governor shall appoint, subject to advice and consent of the Senate, five of the incorporators of the corporation from the categories of persons described in paragraphs (1) to (5), inclusi
• § 52552 — The initial board of directors shall take whatever actions are necessary or appropriate to establish the corporation, including, but not limited to, the filing of articles of incorporation.
• § 52560 — (a) In order to achieve the objectives and carry out the purposes of this part, the corporation may do all of the following: (1) Raise equity funds, from corporations or individuals, for housing and r
• § 52561 — (a) The corporation may arrange for the formation, as separate organizations, of partnerships organized under the laws of this state for the purpose of engaging in any activities that may be performed
• § 53000 — This part may be cited as the Solar and Energy Conservation Mortgage Corporation Act of 1981.
• § 53001 — The Legislature hereby determines that: (a) There is a national policy of reducing demand for nonrenewable energy sources, recognition of which is especially important to the economic welfare of Calif
• § 53002 — The Legislature further declares its intention that the provisions of this part be interpreted and implemented in a manner which will accomplish the following: (a) Maintain a high level of diversity a
• § 53050 — Unless the context otherwise requires and so stipulates, the definitions provided in this chapter shall govern construction of this part.
• § 53052 — “Corporation” means the Solar and Energy Conservation Mortgage Corporation, also known as “Sunny Mac,” created by this part.
• § 53054 — “Energy conservation measure” means any one or more of the following: (a) A device, system, or design that utilizes solar energy or wind power for water heating, space heating or cooling, or the gener
• § 53056 — “Financial institution” means any commercial bank, trust company, savings and loan association, credit union, insurance company, industrial loan company, mortgage banker, or California business and in
• § 53058 — “Financing” means to lend money for the purpose of purchasing, leasing, installing, or constructing energy conservation measures.
• § 53060 — “Holder-in-due course,” means the purchaser of a loan or loans from a financial institution that participates in, arranges, or finances a loan pursuant to the provisions of this part, and who takes th
• § 53062 — “Structural improvements” means alterations or additions to a designated building intended to enhance energy conservation and efficiency of building space utilization.
• § 53100 — The corporation created by this part shall be known as “Sunny Mac.
• § 53101 — The Solar and Energy Conservation Mortgage Corporation is hereby created for the following purposes: (a) To facilitate financing of energy conservation measures and structural improvements.
• § 53102 — The corporation shall have common stock, without par value, which shall be vested with all voting rights, each share being entitled to one vote with rights of cumulative voting.
• § 53103 — The board of directors of the corporation shall consist of seven members, selected and appointed as follows: (a) One member, representing the public interest, for a term of four years, appointed by th
• § 53104 — The members of the board shall annually elect a chairman from among their membership.
• § 53105 — In order to expedite the startup of the corporation, the four members representing the stockholders shall initially be appointed by the Secretary of the Business, Transportation and Housing Agency.
• § 53106 — On or before February 1, 1982, the Governor, the State Treasurer, and the Secretary of Business, Transportation and Housing shall appoint the directors authorized under Sections 53103 and 53105.
• § 53108 — For the purposes set forth in this chapter, the corporation is authorized pursuant to commitments, or otherwise, to purchase, service, sell, lend on the security of, or otherwise deal in, any loans or
• § 53109 — For the purposes set forth in this chapter, the corporation is authorized to borrow money through the issuance of notes, bonds, debentures, mortgage trust certificates, or any other security or second
• § 53110 — Any financial institution may apply to the corporation to become a member financial institution.
• § 53111 — Any purchases of loans made by the corporation pursuant to the provisions of this part, for value, in good faith and without actual and written notice of any adverse claims against the loans, shall pl
• § 53112 — Any mortgage trust certificates, mortgage-backed bonds, mortgage-backed passthrough certificates, or other obligations of the corporation secured by the loans and related deeds of trust purchased by t
• § 53113 — The corporation may accept and administer grants, subsidies, loans, loan guarantees, and other special programs as may be established for that purpose by the Public Utilities Commission, State Energy
• § 53130 — (a) Moneys deposited in the Roberti Affordable Housing Fund from the sale of bonds pursuant to Part 9 (commencing with Section 53150) shall be allocated for expenditure in accordance with the followin
• § 53131 — Notwithstanding other provisions of law, any money which may be repaid or rebated to any fund specified in Section 53130 in connection with a program funded pursuant to Section 53130 shall be retained
• § 53133 — Notwithstanding other provisions of law, moneys deposited in any fund pursuant to Section 53130 shall only be expended for housing programs or those portions of housing programs authorized by law whic
• § 53134 — In addition to any other reports required by law, the department shall include within the annual report required by Section 50408 information on the utilization of bond proceeds authorized by this par
• § 53135 — In addition to any other reports required by law, the agency shall include within the annual report required by Section 51005 information on the utilization of bond proceeds authorized by this part.
• § 53136 — The agency or the department may execute, in accordance with Article 4 (commencing with Section 19130) of Chapter 5 of Part 2 of Division 5 of Title 2 of the Government Code, contracts and related ins
• § 53150 — This part shall be known and may be cited as the Housing and Homeless Bond Act of 1988.
• § 53151 — As used in this part, the following terms have the following meanings: (a) “Bond” means a bond, authorized by Section 53170, that is tax exempt under both state and federal law, or a bond that is tax
• § 53160 — The proceeds of bonds issued and sold pursuant to this part shall be deposited in the Roberti Affordable Housing Fund, which is hereby created.
• § 53170 — Bonds in the total amount of three hundred million dollars ($300,000,000), exclusive of refunding bonds issued pursuant to Section 53170.
• § 53170.5 — Any bonds issued and sold pursuant to this chapter may be refunded by the issuance of refunding bonds in accordance with Article 6 (commencing with Section 16780) of Chapter 4 of Part 3 of Division 2
• § 53171 — The bonds authorized by this part shall be prepared, executed, issued, sold, paid, and redeemed as provided in the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part
• § 53172 — (a) Solely for the purpose of authorizing the issuance and sale, pursuant to the State General Obligation Bond Law, of the bonds authorized by this part, the Housing Committee is hereby created.
• § 53173 — The committee shall determine whether or not it is necessary or desirable to issue bonds authorized pursuant to this part in order to carry out the actions specified in Part 8 (commencing with Section
• § 53174 — There shall be collected each year and in the same manner and at the same time as other state revenue is collected, in addition to the ordinary revenues of the state, a sum in an amount required to pa
• § 53175 — Notwithstanding Section 13340 of the Government Code, there is hereby appropriated from the General Fund in the State Treasury, for the purposes of this part, an amount that will equal the total of th
• § 53176 — For the purposes of carrying out this part, the Director of Finance may authorize the withdrawal from the General Fund of an amount or amounts not to exceed the amount of the unsold bonds which have b
• § 53176.2 — Notwithstanding any other provision of this bond act, or of the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code),