HEALTH FACILITIES FINANCING AUTHORITY ACT

Cal. GOV § 15439

California Statutes

(

a) The California Health Facilities Authority Fund is continued in existence in the State Treasury as the California Health Facilities Financing Authority Fund. All money in the fund is hereby continuously appropriated to the authority for carrying out the purposes of this division. The authority may pledge any or all of the moneys in the fund as security for payment of the principal of, and interest on, any particular issuance of bonds issued pursuant to this part, or any particular secured or unsecured loan made pursuant to subdivision (i), (j), or (

s) of

Section 15438, or for a grant awarded pursuant to subdivision (

b) of

Section 15438.7, and, for that purpose or as necessary or convenient to the accomplishment of any other purpose of the authority, may divide the fund into separate accounts. All moneys accruing to the authority pursuant to this part from whatever source shall be deposited in the fund. (

b) Subject to the priorities that may be created by the pledge of particular moneys in the fund to secure any issuance of bonds of the authority, and subject further to the cost of loans provided by the authority pursuant to subdivisions (i), (j), or (

s) of

Section and to the cost of grants provided by the authority pursuant to

Section 15438.7, and subject further to any reasonable costs which may be incurred by the authority in administering the program authorized by this division, all moneys in the fund derived from any source shall be held in trust for the security and payment of bonds of the authority and shall not be used or pledged for any other purpose so long as the bonds are outstanding and unpaid. However, nothing in this

section shall limit the power of the authority to make loans with the proceeds of bonds in accordance with the terms of the resolution authorizing the same or pledging or granting a security interest to the provider of credit support as specified in the documents pursuant to which authority revenue bonds are issued. (

c) Pursuant to any agreements with the holders of particular bonds pledging any particular assets, revenues, or moneys, the authority may create separate accounts in the fund to manage assets, revenues, or moneys in the manner set forth in the agreements. (

d) The authority may, from time to time, direct the Treasurer to invest moneys in the fund that are not required for its current needs, including proceeds from the sale of any bonds, in the eligible securities specified in

Section as the agency shall designate. The authority may direct the Treasurer to deposit moneys in interest-bearing accounts in state or national banks or other financial institutions having principal offices in this state. The authority may alternatively require the transfer of moneys in the fund to the Surplus Money Investment Fund for investment pursuant to

Article 4 (commencing with

Section 16470) of

Chapter of Part of Division 4. All interest or other increment resulting from an investment or deposit shall be deposited in the fund, notwithstanding

Section 16305.7. Moneys in the fund shall not be subject to transfer to any other fund pursuant to any provision of

Part 2 (commencing with

Section 16300) of Division 4, excepting the Surplus Money Investment Fund. (

e) All moneys accruing to the authority from whatever source shall be deposited in the fund.

Document details

CollectionCalifornia Statutes
CitationCal. GOV § 15439
Date2012-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierGOV15439.20113304

HEALTH FACILITIES FINANCING AUTHORITY ACT

Cal. GOV § 15439

California Statutes

HEALTH FACILITIES FINANCING AUTHORITY ACT

Cal. GOV § 15439

California Statutes

(

a) The California Health Facilities Authority Fund is continued in existence in the State Treasury as the California Health Facilities Financing Authority Fund. All money in the fund is hereby continuously appropriated to the authority for carrying out the purposes of this division. The authority may pledge any or all of the moneys in the fund as security for payment of the principal of, and interest on, any particular issuance of bonds issued pursuant to this part, or any particular secured or unsecured loan made pursuant to subdivision (i), (j), or (

s) of

Section 15438, or for a grant awarded pursuant to subdivision (

b) of

Section 15438.7, and, for that purpose or as necessary or convenient to the accomplishment of any other purpose of the authority, may divide the fund into separate accounts. All moneys accruing to the authority pursuant to this part from whatever source shall be deposited in the fund. (

b) Subject to the priorities that may be created by the pledge of particular moneys in the fund to secure any issuance of bonds of the authority, and subject further to the cost of loans provided by the authority pursuant to subdivisions (i), (j), or (

s) of

Section and to the cost of grants provided by the authority pursuant to

Section 15438.7, and subject further to any reasonable costs which may be incurred by the authority in administering the program authorized by this division, all moneys in the fund derived from any source shall be held in trust for the security and payment of bonds of the authority and shall not be used or pledged for any other purpose so long as the bonds are outstanding and unpaid. However, nothing in this

section shall limit the power of the authority to make loans with the proceeds of bonds in accordance with the terms of the resolution authorizing the same or pledging or granting a security interest to the provider of credit support as specified in the documents pursuant to which authority revenue bonds are issued. (

c) Pursuant to any agreements with the holders of particular bonds pledging any particular assets, revenues, or moneys, the authority may create separate accounts in the fund to manage assets, revenues, or moneys in the manner set forth in the agreements. (

d) The authority may, from time to time, direct the Treasurer to invest moneys in the fund that are not required for its current needs, including proceeds from the sale of any bonds, in the eligible securities specified in

Section as the agency shall designate. The authority may direct the Treasurer to deposit moneys in interest-bearing accounts in state or national banks or other financial institutions having principal offices in this state. The authority may alternatively require the transfer of moneys in the fund to the Surplus Money Investment Fund for investment pursuant to

Article 4 (commencing with

Section 16470) of

Chapter of Part of Division 4. All interest or other increment resulting from an investment or deposit shall be deposited in the fund, notwithstanding

Section 16305.7. Moneys in the fund shall not be subject to transfer to any other fund pursuant to any provision of

Part 2 (commencing with

Section 16300) of Division 4, excepting the Surplus Money Investment Fund. (

e) All moneys accruing to the authority from whatever source shall be deposited in the fund.

Document details

CollectionCalifornia Statutes
CitationCal. GOV § 15439
Date2012-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierGOV15439.20113304