Chapter 2.46
CHICO PUBLIC FINANCING AUTHORITY

Section:

2.46.010   General provisions.

2.46.020   Purposes of authority.

2.46.030   City council to act as the board of directors of authority.

2.46.040   Officers of authority.

2.46.050   Powers of authority - General powers.

2.46.060   Powers of authority - Specific powers.

2.46.070   Manner of exercising powers.

2.46.080   Debts, liabilities and obligations of authority.

2.46.090   Executive director as custodian of authority property.

2.46.100   Duties of the treasurer.

2.46.120   Bylaws of authority.

2.46.130   Modification of agreement establishing authority.

2.46.140   Termination of authority.

2.46.010 General provisions.

   This chapter is enacted to codify the provisions of that certain agreement between the city and the Chico Redevelopment Agency dated July 17, 1990, and entitled “Joint Exercise of Powers Agreement, Chico Public Financing Authority” which established a joint powers agency designated therein and hereinafter referred to as the Chico Public Financing Authority. Such agreement was approved and executed by the city and the Chico Redevelopment Agency pursuant to the joint powers laws of the state of California, as set forth in Chapter 5, Division 7, Title 1, of the California Government Code (commencing with Government Code Section 6500), including those provisions of the joint powers laws adopted by the Marks-Roos Local Bond Pooling Act of 1985, as set forth in Article 4, Chapter 5, Division 7, Title 1 of the California Government Code (commencing with Government Code Section 6584).

(Ord. 1829 (part))

2.46.020 Purposes of authority.

   In accordance with the provisions of the joint powers agreement between the city and the Chico Redevelopment Agency, the primary purpose of the Chico Public Financing Authority shall be to provide for the financing of land, facilities and equipment to be used for the public purposes of the city and/or the agency, including but not limited to “public capital improvements” as defined in Section 6585(g) of the California Government Code, either through the acquisition, construction and improvement of such land, facilities or equipment, or through a loan of funds to the city or the agency to enable the city or the agency to acquire, construct or improve such land, facilities or equipment. In addition, the authority shall have all the purposes authorized by Section 6590 of the California Government Code. As provided by the joint powers laws of the state of California, the Chico Public Financing Authority is a public entity separate and distinct from either the city or the Chico Redevelopment Agency.

(Ord. 1829 (part))

2.46.030 City council to act as the board of directors of authority.

   Pursuant to the joint powers agreement between the city and the Chico Redevelopment Agency, the city council has been designated as the board of directors of the Chico Public Financing Authority, and all the rights, powers, duties, privileges and immunities of the authority shall be vested in the city council as the board of directors thereof.

(Ord 1829 (part))

2.46.040 Officers of authority.

   Pursuant to the joint powers agreement between the city and the Chico Redevelopment Agency, the officers of the Chico Public Financing Authority shall consist of a chairperson, vice chairperson, executive director, secretary, treasurer and authority counsel, who shall be the mayor, vice mayor, city manager, city clerk, finance director and city attorney respectively. Such officers shall perform all of the functions provided for by the joint powers agreement as codified herein and/or the bylaws adopted pursuant to such agreement.

(Ord. 1829 (part), Ord. 2113 §1)