California Education Code

§ 17444

EDC § 17444 Effective Sep 26, 2013Div. 1 · Title 1 · Part 10.5 · Ch. 4 · Art. 2.5

Statute text

(a)Any installment of an owner’s development lien created pursuant to this article shall become delinquent 30 days following billing thereof if unpaid, or if the installment is being collected by the county tax collector, at the time general taxes become delinquent. An installment shall be in default 30 days after written notice of the delinquency has been given by certified or registered mail to the record owner of the property subject to the lien and all lenders of record.

(b)The governing board, not later than four years after the date of default of any payment, may order that the amount be collected by an action brought in superior court to foreclose against the real property subject to the owner’s development lien for the then delinquent installment of the owner’s development lien. The action shall affect only the delinquent amounts and shall not accelerate or require payment of any remaining amount of the owner’s development lien.

(c)The lease agreement between the governing board and the nonprofit corporation may contain covenants for the benefit of bondholders providing that the governing board shall commence and diligently prosecute to completion any foreclosure action regarding delinquent installments of an owner’s development lien. The lease agreement may specify a deadline for commencement of the foreclosure action and any other terms and conditions that the governing board may determine to be reasonable.

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Legislative history

Amended by Stats. 2013, Ch. 352, Sec. 67. (AB 1317) Effective September 26, 2013. Operative July 1, 2013, by Sec. 543 of Ch. 352.