SECTIONS 40520-40529 - California Statutes

GOVERNMENT CODE

SECTION 40520-40529

40520. There is, in each city, city and county, or county of the
State, a public corporation known as the "surplus property authority"
of the city, city and county, or county.

40521. The authority shall not transact any business or exercise
any powers unless and until the legislative body shall by ordinance
declare that there is need for the authority to function in the city,
city and county, or county.

40522. The determination that there is need for an authority to
function may be initiated by the legislative body on its own motion
or upon the filing of a petition signed by 100 residents of the city,
city and county, or county asserting that there is need for an
authority to function in the local agency and requesting that the
legislative body so declare.

40523. In any suit, action, or proceeding by or against or in any
manner relating to an authority, the authority shall be conclusively
deemed to have become established and authorized to transact business
and exercise its powers upon proof of the adoption of the ordinance
by the legislative body declaring the need for the authority to
function.

40524. At the time the authority becomes authorized to transact
business and exercise its powers, and from time to time thereafter,
the legislative body, subject to the law governing the conduct of its
fiscal affairs, may make an estimate of the amount of money required
for administrative purposes of the authority, and by a two-thirds
vote, appropriate such amounts to the authority as it deems
necessary, subject to such conditions as it prescribes.

40525. Quarterly, semiannually, or annually, as the legislative
body prescribes, the authority shall file with the legislative body a
detailed report of all its transactions, including a statement of
all revenues and expenditures.

40526. At least once annually the authority shall publish a
statement of all its financial affairs, audited by independent
certified public accountants. The statement shall be published in a
newspaper of general circulation, published in the city, city and
county, or county or if none is so published then in such newspaper
of general circulation as the authority may deem most likely to give
notice to the residents of the local agency.

40527. If within four years after the adoption of an ordinance
declaring the need for an authority to function in a local agency,
the authority has not acquired or entered into possession of any
property, or entered into any contract for the acquisition of any
property, the legislative body by ordinance may declare that there is
no need for the authority to function. Upon the adoption of such
ordinance, the offices of the commission become vacant and the
capacity of the authority to transact business or exercise any power
is suspended until the legislative body again adopts an ordinance
declaring the need for the authority to function.

40528. After adoption of an ordinance declaring there is no need
for an authority to function, and while it is in effect, the
legislative body may wind up the affairs of the authority and has
title to all property of the authority for such purpose and for the
benefit of the local agency.

40529. At any time after the activation of an authority, the
legislative body by a two-thirds vote may adopt an ordinance
transferring the property of the authority to the local agency, and
the local agency may through such department, board, officer, or
agency, as it determines, exercise its powers in regard to such
property by virtue of the Constitution, its charter, this chapter or
any general law. The legislative body shall thereupon adopt an
ordinance dissolving the authority. No such transfer or dissolution
shall be made in contravention of any covenant or agreement made that
is issued and outstanding.