SECTIONS 99017-99040 - California Statutes

GOVERNMENT CODE

SECTION 99017-99040

99017. This title, being necessary for the health, welfare, and
safety of the people of the state, shall be liberally construed to
effect its purposes.

99018. This title shall be deemed to provide a complete,
additional, and alternative method for doing the things authorized in
its provisions, and shall be regarded as supplemental and additional
to the powers conferred by other laws. The sale and issuance of
bonds, the application of proceeds to the funding of the accumulated
budget deficit, and the refunding of prior bonds and the entering
into of any ancillary obligation under this title, are not required
to comply with the requirements of any other state or local law
applicable to the issuance of bonds or ancillary obligations. The
purposes authorized in subdivision (c) of Section 99002 may be
effectuated and bonds are authorized to be issued for any of those
purposes, notwithstanding that any other state or local law may
provide for those purposes or for the issuance of bonds for the same
or similar purposes, and without regard to the requirements,
restrictions, limitations, or other provisions contained in any other
state or local law.

99019. Bonds issued pursuant to this title are a legal investment
for any state special fund or trust fund, notwithstanding any
provision of state or local law limiting the investments that may be
made by the fund. The bonds shall be legal investments in which all
public officers and public bodies of the state and its political
subdivisions, all municipalities and municipal subdivisions, all
insurance companies and associations and other persons carrying on an
insurance business, all banks, bankers, banking institutions,
including savings and loan associations, building and loan
associations, trust companies, savings banks and savings
associations, investment companies, and other persons carrying on
banking business, all administrators, guardians, executors, trustees,
and other fiduciaries, and all persons authorized to invest in bonds
or other obligations of the state, may properly and legally invest
funds, including capital, in their control or belonging to them. The
bonds may be used by any such private financial institution, person,
or association as security for public officers and bodies of the
state or any agency or political subdivision of the state and all
municipalities and public corporations for any purpose for which the
deposit of bonds or other obligations of the state is authorized by
law, including deposits to secure public funds.

99020. (a) The authority may bring an action to determine the
validity of any bonds to be issued, or ancillary obligations and
other contracts to be entered into, under this title pursuant to
Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the
Code of Civil Procedure. For the purposes of Section 860 of the Code
of Civil Procedure, any action initiated pursuant to this section
shall be brought in the Superior Court in the County of Sacramento.
(b) Any action brought to enforce any provision of this title
shall be brought in the Superior Court in the County of Sacramento
and shall have priority over civil matters not themselves having
priority.
(c) Notwithstanding any other provision of law, the exclusive
means to obtain review of a superior court judgment entered in an
action brought pursuant to Chapter 9 (commencing with Section 860) of
Title 10 of Part 2 of the Code of Civil Procedure to determine the
validity of any bonds to be issued, or ancillary obligations or other
contracts to be entered into, under this title shall be by petition
to the Supreme Court for writ of review. Any such petition shall be
filed within 15 days following the notice of entry of the superior
court judgment, and no extension of that period may be allowed. If no
petition is filed within the time allowed therefor, or the petition
is denied, with or without opinion, the decision of the superior
court shall be final and enforceable as provided in subdivision (a)
of Section 870 of the Code of Civil Procedure. In any case in which a
petition has been filed within the time allowed therefor, the
Supreme Court shall make any orders it deems proper in the
circumstances. If no answering party appeared in the superior court
action, the only issues that may be raised in the petition are those
related to the jurisdiction of the superior court.

99040. The Director of Finance shall immediately notify the Joint
Legislative Budget Committee, the Executive Officer of the Franchise
Tax Board, the Executive Director of the State Board of Equalization,
and the Director of the Department of Motor Vehicles when and if an
amendment to the California Constitution is approved at a statewide
election held during the 2009 calendar year, that limits the total
amount that, under Section 20 of Article XVI of the California
Constitution, may be transferred by statute from the Budget
Stabilization Account, or any successor to that account, to the
General Fund.