ALLOCATION OF HOUSING BOND REVENUES

Cal. HSC § 53130

California Statutes

(

a) Moneys deposited in the Roberti Affordable Housing Fund from the sale of bonds pursuant to

Part 9 (commencing with

Section 53150) shall be allocated for expenditure in accordance with the following schedule:

(1) Two hundred million dollars ($200,000,000) shall be transferred to the Rental Housing Construction Fund to be expended for the programs authorized by

Chapter 9 (commencing with

Section 50735) of

Part 2, except Sections 50738.5 and 50745.1.

(2) Twenty-five million dollars ($25,000,000) shall be transferred to the Housing Rehabilitation Loan Fund to be expended for the purpose of making deferred-payment loans to acquire and rehabilitate residential hotels, as authorized by

Section 50670.

(3) Twenty-five million dollars ($25,000,000) shall be transferred to the Emergency Housing and Assistance Fund to be expended for the programs authorized by

Chapter 11.5 (commencing with

Section 50800) of

Part 2.

(4) Fifteen million dollars ($15,000,000) shall be transferred to the Family Housing Demonstration Account to be expended for the programs authorized by

Chapter 15 (commencing with

Section 50880) of Part of Division of the Health and Safety Code.

(5) Ten million dollars ($10,000,000) shall be transferred to the department for expenditure for the development of migrant farm labor centers authorized by

Chapter 8.5 (commencing with

Section 50710) of Part of Division of the Health and Safety Code.

(6) Twenty-five million dollars ($25,000,000) shall be transferred to the Home Purchase Assistance Fund to be expended for programs authorized by

Chapter 6.8 (commencing with

Section 51341) of Part of Division of the Health and Safety Code. (

b) Moneys deposited in the Roberti Affordable Housing Fund from the sale of bonds pursuant to

Part 10 (commencing with

Section 53190) shall be allocated for expenditure in accordance with the following schedule:

(1) One hundred million dollars ($100,000,000) shall be transferred to the Rental Housing Construction Fund to be expended for the programs authorized by

Chapter 9 (commencing with

Section 50735) of

Part 2, except Sections 50738.5 and 50745.1.

(2) Fifteen million dollars ($15,000,000) shall be transferred to the Housing Rehabilitation Loan Fund to be expended for the purpose of making deferred-payment loans to acquire and rehabilitate residential hotels, as authorized by

Section 50670.

(3) Ten million dollars ($10,000,000) shall be transferred to the Emergency Housing and Assistance Fund to be expended for the programs authorized by

Chapter 11.5 (commencing with

Section 50800) of

Part 2.

(4) Twenty-five million dollars ($25,000,000) shall be transferred to the Home Purchase Assistance Fund to be expended for programs authorized by

Chapter 6.8 (commencing with

Section 51341) of

Part 2. (

c) No portion of any of the moneys allocated pursuant to this

section may be expended for project operating costs, except that this

section does not preclude expenditures for operating costs from reserves required to be maintained by or on behalf of the project sponsor.

Document details

CollectionCalifornia Statutes
CitationCal. HSC § 53130
Date2002-04-22
Typestatute
Languageen
SourceCA_STAT
IdentifierHSC53130.2002267

ALLOCATION OF HOUSING BOND REVENUES

Cal. HSC § 53130

California Statutes

ALLOCATION OF HOUSING BOND REVENUES

Cal. HSC § 53130

California Statutes

(

a) Moneys deposited in the Roberti Affordable Housing Fund from the sale of bonds pursuant to

Part 9 (commencing with

Section 53150) shall be allocated for expenditure in accordance with the following schedule:

(1) Two hundred million dollars ($200,000,000) shall be transferred to the Rental Housing Construction Fund to be expended for the programs authorized by

Chapter 9 (commencing with

Section 50735) of

Part 2, except Sections 50738.5 and 50745.1.

(2) Twenty-five million dollars ($25,000,000) shall be transferred to the Housing Rehabilitation Loan Fund to be expended for the purpose of making deferred-payment loans to acquire and rehabilitate residential hotels, as authorized by

Section 50670.

(3) Twenty-five million dollars ($25,000,000) shall be transferred to the Emergency Housing and Assistance Fund to be expended for the programs authorized by

Chapter 11.5 (commencing with

Section 50800) of

Part 2.

(4) Fifteen million dollars ($15,000,000) shall be transferred to the Family Housing Demonstration Account to be expended for the programs authorized by

Chapter 15 (commencing with

Section 50880) of Part of Division of the Health and Safety Code.

(5) Ten million dollars ($10,000,000) shall be transferred to the department for expenditure for the development of migrant farm labor centers authorized by

Chapter 8.5 (commencing with

Section 50710) of Part of Division of the Health and Safety Code.

(6) Twenty-five million dollars ($25,000,000) shall be transferred to the Home Purchase Assistance Fund to be expended for programs authorized by

Chapter 6.8 (commencing with

Section 51341) of Part of Division of the Health and Safety Code. (

b) Moneys deposited in the Roberti Affordable Housing Fund from the sale of bonds pursuant to

Part 10 (commencing with

Section 53190) shall be allocated for expenditure in accordance with the following schedule:

(1) One hundred million dollars ($100,000,000) shall be transferred to the Rental Housing Construction Fund to be expended for the programs authorized by

Chapter 9 (commencing with

Section 50735) of

Part 2, except Sections 50738.5 and 50745.1.

(2) Fifteen million dollars ($15,000,000) shall be transferred to the Housing Rehabilitation Loan Fund to be expended for the purpose of making deferred-payment loans to acquire and rehabilitate residential hotels, as authorized by

Section 50670.

(3) Ten million dollars ($10,000,000) shall be transferred to the Emergency Housing and Assistance Fund to be expended for the programs authorized by

Chapter 11.5 (commencing with

Section 50800) of

Part 2.

(4) Twenty-five million dollars ($25,000,000) shall be transferred to the Home Purchase Assistance Fund to be expended for programs authorized by

Chapter 6.8 (commencing with

Section 51341) of

Part 2. (

c) No portion of any of the moneys allocated pursuant to this

section may be expended for project operating costs, except that this

section does not preclude expenditures for operating costs from reserves required to be maintained by or on behalf of the project sponsor.

Document details

CollectionCalifornia Statutes
CitationCal. HSC § 53130
Date2002-04-22
Typestatute
Languageen
SourceCA_STAT
IdentifierHSC53130.2002267
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