California Health and Safety Code 55004 – The local agency shall adopt rules and regulations for the …
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The local agency shall adopt rules and regulations for the administration of the financing program, which shall include, but not be limited to, borrower eligibility criteria designed to assure the fiscal integrity of the financing program while permitting maximum application to existing buildings which have sufficient economic life to warrant the amount of financing required. The regulations shall specify procedures to be followed in the event of default.
(Added by Stats. 1982, Ch. 1602, Sec. 1.)
Terms Used In California Health and Safety Code 55004
- 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