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))

2.46.080 Debts, liabilities and obligations of authority.

   Pursuant to the joint powers agreement between the city and the Chico Redevelopment Agency, the debts, liabilities and obligations of the Chico Public Financing Authority shall not be the debts, liabilities and obligations of either the city or the agency.

(Ord. 1829 (part))

2.46.090 Executive director as custodian of authority property.

   Pursuant to the joint powers agreement between the city and the Chico Redevelopment Agency, the city manager, as executive director of the Chico Public Financing Authority, shall be the custodian and shall have charge of, handle, and have access to any and all property of the authority, all as provided for by Section 6505.1 of the California Government Code.

(Ord. 1829 (part))

2.46.100 Duties of the treasurer.

   Pursuant to the joint powers agreement between the city and the Chico Redevelopment Agency, the finance director, as treasurer of the Chico Public Financing Authority, shall have all of the duties and obligations set forth in Sections 6505 and 6505.5 of the California Government Code, including, but not limited to, the duty and obligation to receive and receipt for all money of the authority and place same in the treasury of the city designated to the credit of the authority, be responsible for the safekeeping and disbursement of all authority money so held by the finance director, and pay, when due, out of the money of the authority so held by the finance director, all sums payable on outstanding bonds and coupons of the authority.

(Ord. 1829 (part), Ord. 2113 §1, Ord. 2268)