Upon request of the board stating that funds are needed for purposes of this part, the committee shall determine whether or not it is necessary or desirable to issue bonds, and, if so, the amount of bonds to be issued and sold. Successive issues of bonds may be authorized and sold to carry out those actions progressively, and are not required to be sold at any one time. Bonds may bear interest subject to federal income tax.

(Added by Stats. 2017, Ch. 365, Sec. 3. Approved in Proposition 1 at the November 6, 2018, election; effective November 7, 2018.)

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Terms Used In California Health and Safety Code 54016

  • Board: means the Department of Housing and Community Development for programs administered by the department, and the California Housing Finance Agency for programs administered by the agency. See California Health and Safety Code 54002
  • Committee: means the Housing Finance Committee created pursuant to Section 53524 and continued in existence pursuant to Sections 53548 and 54014. See California Health and Safety Code 54002