Gov. Code, § 91537 · Article 2. Industrial Development Authorities
Gov. Code, § 91537
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The issuance of bonds shall be authorized by resolution of the board adopted at any time following the determinations provided for in subdivision (j) of Section 91527 or Section 91530. The resolution may, as the board deems advisable and in accordance with the provisions of this article, provide for, or authorize the execution of a loan agreement, the repayment obligation of which is evidenced by the bonds, providing for, or authorize the execution of an indenture providing for:
(a) The fixing and collection of revenues;
(b) The creation and maintenance of special funds, including reserve and sinking funds;
(c) Limitations on expenditures of bond proceeds;
(d) The procedure, if any, by which any contract represented by bonds may be amended or abrogated;
(e) The acts and omissions which shall constitute, and the rights and remedies available, in an event of default. In such an event of default, the obligations of the authority may be enforced, as appropriate, by mandamus, by the appointment of a receiver, by foreclosure or sale, by injunction, by specific performance, by equitable relief, or by any one or more of such remedies or any other remedy; and
(f) Any additional matters authorized to be included in an indenture or which relate to the security, protection, or return of bondholders.
Notes and commentary — not statutory text
History
Amended by Stats. 1982, Ch. 1605, Sec. 14.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=91537.
- Text hash
- sha256 9a50f2b5aa5d69b03dcb8fd0cc6247513c180bab876546d647bd8e69dc9892fc
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- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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