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2021 California Code
Government Code - GOV
TITLE 2 - GOVERNMENT OF THE STATE OF CALIFORNIA
DIVISION 3 - EXECUTIVE DEPARTMENT
PART 7.2 - HEALTH FACILITIES FINANCING AUTHORITY ACT
Section 15458.
Universal Citation:
CA Govt Code § 15458 (2021)
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15458.
Upon dissolution of the authority, title to all property owned by the authority shall vest in the successor authority created by the Legislature, if any, if such successor authority qualifies under Section 103 of the federal Internal Revenue Code of 1954, as amended, and the regulations promulgated thereunder, as an authority entitled to issue obligations on behalf of the State of California the interest on which is exempt from federal income taxation. If no such successor authority is so created, title to such property shall vest in the State of California.
(Added by Stats. 1979, Ch. 1033.)
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