Loading...
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))
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))
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))
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)
Pursuant to the joint powers agreement between the city and the Chico Redevelopment Agency, the city council, acting as the board of directors of the Chico Public Financing Authority, may adopt, from time to time, bylaws governing the authority as the city council deems necessary or advisable.
(Ord. 1829 (part))
Pursuant to the joint powers agreement between the city and the Chico Redevelopment Agency, the city and agency, by amending the joint powers agreement, may modify the terms and conditions under which the authority operates, except as may be limited by contract with the owners of bonds issued by the authority, or by applicable regulations or laws governing either the city, the Chico Redevelopment Agency, or an agency established under the joint powers of the state of California.
(Ord. 1829 (part))
Pursuant to the Joint Powers Agreement between the city and the Chico Redevelopment Agency, the Chico Public Financing Authority shall continue in existence as long as a bond or material contract to which the Chico Public Financing Authority is a party remains outstanding or is in effect, the authority owns any interest in any public capital improvements as defined in Section 6585(g) of the California Government Code, or the city and the agency mutually agree to terminate the authority, whichever last occurs. Upon termination of the Chico Public Financing Authority, all property of the Authority, both real and personal, shall be divided between the city and the Chico Redevelopment Agency in a manner to be determined by the city council, and all surplus money on hand shall be returned to the city and the agency in proportion to the contribution made.
(Ord. 1829 (part))