California Government Code

§ 64107.5

GOV § 64107.5 Effective Jan 1, 2014Div. 3 · Title 6.7

Statute text

The authority or issuer may do any of the following:

(a)Obtain, or aid in obtaining, from any department or agency of the United States or of the state, any private company, any insurance or guarantee as to, of, or for the payment or repayment of, interest or principal, or both, or any part thereof, on any bond, loan, lease, or obligation, or any instrument evidencing or securing the loan, lease, or obligation, made or entered into pursuant to this division; and notwithstanding any other provisions of this division, to enter into any agreement, contract, or any other instrument whatsoever with respect to that insurance or guarantee, to accept payment in the manner and form as provided therein in the event of default by a project sponsor, and to assign that insurance or guarantee as security for the issuer’s bonds.

(b)Enter into any and all agreements or contracts, including agreements for liquidity and credit enhancement and interest rate swaps or hedges, execute any and all instruments, and do and perform any and all acts or things necessary, convenient, or desirable for the purposes of the issuer or to carry out any power expressly granted by this division.

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Legislative history

Added by Stats. 2013, Ch. 198, Sec. 3. (AB 1070) Effective January 1, 2014.