For the purposes of this division, the local agency shall have the following powers in addition to any other powers granted by this division:

(a)  To make and execute contracts and all other instruments necessary or convenient for the exercise of its powers and functions under this division with any governmental agency, private corporation, or other entity or individual.

Terms Used In California Health and Safety Code 55005

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bonds: means bonds, notes, or other evidence of indebtedness issued by a local agency pursuant to Part 2 (commencing with Section 55100) of this division, including bonds issued to refund previously issued bonds or other indebtedness. See California Health and Safety Code 55001
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Financing: means a loan made by the local agency pursuant to this division to the owner of an eligible building for eligible costs and which is secured by a deed of trust or mortgage upon the real property improved thereby. See California Health and Safety Code 55001
  • Local agency: means a city, county, or city and county. See California Health and Safety Code 55001
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

(b)  To determine the terms and conditions of any mortgage instrument, deed of trust, or promissory note used or executed in conjunction with financing pursuant to this division.

(c)  To employ architects, engineers, attorneys, accountants, construction and financial experts, and other advisers, consultants, and agents as may be necessary in its judgment.

(d)  To provide advice, technical information, and consultative and technical service in connection with financing pursuant to this division.

(e)  To procure insurance against any loss in connection with its property and other assets, including mortgages and deeds of trust, in the amounts and from insurers as it deems desirable.

(f)  To establish, revise from time to time, and charge and collect fees and charges in connection with financing provided by the local agency.

(g)  To borrow money and issue bonds, as provided in this division.

(h)  To do any and all things necessary or convenient to the exercise of other powers under this division.

(Added by Stats. 1982, Ch. 1602, Sec. 1.)