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)

2.46.050 Powers of authority - General powers.

   Pursuant to the joint powers agreement between the city and the Chico Redevelopment Agency, the Chico Public Financing Authority shall have all of the powers granted to it by the joint powers laws of the state of California, including but not limited to the powers set forth in the Marks-Roos Local Bond Pooling Act of 1985, as well as all powers common to the city and the agency which may be necessary to accomplish the purposes of the authority.

(Ord. 1829 (part))

2.46.060 Powers of authority - Specific powers.

   Pursuant to the joint powers agreement between the city and the Chico Redevelopment Agency, the Chico Public Financing Authority is authorized, in its own name, to do all acts necessary for the exercise of its general powers, including but not limited to any of the following:

   A.   To make and enter into contracts;

   B.   To acquire, construct, manage, maintain, and operate any public capital improvements as defined in Section 6585(g) of the California Government Code, including the common power of both the city and the Chico Redevelopment Agency to acquire such improvements by any lawful means;

   C.   To sue and be sued in its own name;

   D.   To issue bonds and otherwise incur debts, liabilities, or obligations;

   E.   To apply for, accept, receive and disburse grants, loans and other aids from any agency of the United States of America or the state of California;

   F.   To invest any money in the treasury of the Chico Public Financing Authority in the same manner and under the same conditions as a local agency pursuant to Section 53601 of the California Government Code;

   G.   To make and enter into agreements, assignments and other documents of any nature whatsoever, as may be necessary or convenient in the exercise of the general powers of the Chico Public Financing Authority or under the joint powers laws of the state of California;

   H.   To make loans to the city or the Chico Redevelopment Agency in order to carry out the purposes of the Chico Public Financing Authority, or to refinance indebtedness incurred by the city or the agency in connection therewith; and

   I.   To exercise any and all other powers that may be provided for in the joint powers laws of the state of California including, but not limited to, the Marks-Roos Local Bond Pooling Act of 1985.

(Ord. 1829 (part))

2.46.070 Manner of exercising powers.

   Pursuant to the joint powers agreement between the city and the Chico Redevelopment Agency, all powers of the Chico Public Financing Authority shall be exercised in the manner provided for in the joint powers laws of the state of California, and, except for those powers set forth in the Marks-Roos Local Bond Pooling Act of 1985, shall be subject to the restrictions upon the manner of exercising such powers as are imposed upon the city in the exercise of similar powers, all as provided for by Section 6509 of the California Government Code.

(Ord. 1829 (part))