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HomeHealth and Safety CodeDiv. 32Pt. 1§ 55005 Local Agency Contracting Powers

§ 55005 Local Agency Contracting Powers

Health and Safety Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 55005 Local Agency Contracting Powers

Key Takeaways

  • •Local agencies can make deals and contracts with others to do their job.
  • •They can decide the rules for loans and mortgages they handle.
  • •They can hire experts like builders, lawyers, or money advisors if needed.
  • •They can charge fees for the services they provide.

Example

A city wants to build a new park but needs money.

The city can borrow money, make contracts with builders, and set the rules for paying back the loan. They can also hire experts to help plan the park.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 55005 Local Agency Contracting Powers

For the purposes of this division, the local agency shall have the following powers in addition to any other powers granted by this division: (a)  To make and execute contracts and all other instruments necessary or convenient for the exercise of its powers and functions under this division with any governmental agency, private corporation, or other entity or individual. (b)  To determine the terms and conditions of any mortgage instrument, deed of trust, or promissory note used or executed in conjunction with financing pursuant to this division. (c)  To employ architects, engineers, attorneys, accountants, construction and financial experts, and other advisers, consultants, and agents as may be necessary in its judgment. (d)  To provide advice, technical information, and consultative and technical service in connection with financing pursuant to this division. (e)  To procure insurance against any loss in connection with its property and other assets, including mortgages and deeds of trust, in the amounts and from insurers as it deems desirable. (f)  To establish, revise from time to time, and charge and collect fees and charges in connection with financing provided by the local agency. (g)  To borrow money and issue bonds, as provided in this division. (h)  To do any and all things necessary or convenient to the exercise of other powers under this division. (Added by Stats. 1982, Ch. 1602, Sec. 1.)

Last verified: January 24, 2026

Key Terms

insurancejudgmentcorporationcontractpropertydeedmortgageagreement

Related Statutes

  • § 129172 Borrower Enforcement Before Foreclosure
  • § 18038.7 No Deficiency Judgment Rule
  • § 50668 Deferred Payment Loan Agreements
  • § 50776 Mortgage Lender Certification Program
  • § 51050 Agency Powers And Authority

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Health and Safety Code. Section 55005.
View Official Source