California Industrial Development Financing Act
California · GOV · §§ 91500 to 91562 · 40 sections
Overview
This act authorizes local governments to promote industrial and economic development by financing the acquisition and construction of qualifying projects through the issuance of revenue bonds, which are secured by project revenues and repaid under lease or financing agreements with the private users rather than by any pledge of state or local taxing power or general credit. It defines the powers of the counties, municipalities, and specially created development authorities that may act as issuers, sets eligibility criteria and procedural requirements for projects and bond issues, and governs the accompanying trust agreements, trust funds, revenue pledges, and remedies available to bondholders on default. It also grants tax-exempt status in connection with covered projects and permits refunding bonds, combined or composite issues, and pooled financings serving multiple borrowers.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
In the courts
Sections of this act have been cited in 1 court decision.
Most-cited authority: 40 Cal. 4th 788 - California Statewide Communities Development Authority v. All Persons Interested in Re of the Validity of a Purchase Agreement
Sections covered
- Cal. Gov. Code § 91500General Provisions and Definitions
- Cal. Gov. Code § 91501General Provisions and Definitions
- Cal. Gov. Code § 91502General Provisions and Definitions
- Cal. Gov. Code § 91502.1General Provisions and Definitions
- Cal. Gov. Code § 91503General Provisions and Definitions
- Cal. Gov. Code § 91504General Provisions and Definitions
- Cal. Gov. Code § 91520Industrial Development Authorities
- Cal. Gov. Code § 91521Industrial Development Authorities
- Cal. Gov. Code § 91522Industrial Development Authorities
- Cal. Gov. Code § 91523Industrial Development Authorities
- Cal. Gov. Code § 91524Industrial Development Authorities
- Cal. Gov. Code § 91525Industrial Development Authorities
- Cal. Gov. Code § 91525.5Industrial Development Authorities
- Cal. Gov. Code § 91526Industrial Development Authorities
- Cal. Gov. Code § 91527Industrial Development Authorities
- Cal. Gov. Code § 91528Industrial Development Authorities
- Cal. Gov. Code § 91529Industrial Development Authorities
- Cal. Gov. Code § 91530Industrial Development Authorities
- Cal. Gov. Code § 91533Industrial Development Authorities
- Cal. Gov. Code § 91534Industrial Development Authorities
- Cal. Gov. Code § 91535Industrial Development Authorities1 cite
- Cal. Gov. Code § 91536Industrial Development Authorities
- Cal. Gov. Code § 91537Industrial Development Authorities
- Cal. Gov. Code § 91537.5Industrial Development Authorities
- Cal. Gov. Code § 91538Industrial Development Authorities
- Cal. Gov. Code § 91539Industrial Development Authorities
- Cal. Gov. Code § 91540Industrial Development Authorities
- Cal. Gov. Code § 91541Industrial Development Authorities
- Cal. Gov. Code § 91542Industrial Development Authorities
- Cal. Gov. Code § 91543Industrial Development Authorities
- Cal. Gov. Code § 91544Industrial Development Authorities
- Cal. Gov. Code § 91545Industrial Development Authorities
- Cal. Gov. Code § 91546Industrial Development Authorities
- Cal. Gov. Code § 91547Industrial Development Authorities
- Cal. Gov. Code § 91548Industrial Development Authorities
- Cal. Gov. Code § 91549Industrial Development Authorities
- Cal. Gov. Code § 91560Small Business Financing
- Cal. Gov. Code § 91561.3Small Business Financing
- Cal. Gov. Code § 91561.5Small Business Financing
- Cal. Gov. Code § 91562Small Business Financing
Enacted in other states
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