SECTIONS 15820.71-15820.73 - California Statutes

GOVERNMENT CODE

SECTION 15820.71-15820.73

15820.71. (a) For the purposes of this chapter the board may
finance the construction, renovation, and equipping of facilities or
acquisition of equipment, or both, on a site or sites owned by, or
subject to a lease or option to purchase held by, the University of
California, the California State University, the California Maritime
Academy, or the community college districts.
(b) The board shall lease-purchase to the Regents of the
University of California and lease or lease-purchase to the Trustees
of the California State University, the Board of Governors of the
California Maritime Academy, and the community college districts,
pursuant to Chapter 4 (commencing with Section 81800) of Part 49 of
the Education Code, any public building or facility, constructed or
renovated and equipped, or any equipment purchased pursuant to this
chapter. The duration of each lease or lease-purchase agreement and
the amount to be paid under each lease or lease-purchase agreement
shall be determined by mutual agreement of the parties. The board
shall contract with the lessee for all activities required to acquire
equipment or to plan, construct, renovate, and equip facilities.
(c) For purposes of financing the improvements described in
subdivision (a), the governing bodies shall certify to the
Legislature that each project will result in reduced operating costs
or increased income, or both, of these institutions and that the
reduction in operating costs or the increase in income, or both, of
these institutions will amortize the investment of the board over a
reasonable period of time.
(d) Savings in operating costs or increases in income, or both,
from the improvements described in subdivision (a) shall be available
to the institutions for the purposes of making the lease or
lease-purchase payments to the board. In addition, these
institutions, upon completion of the obligations to the board, shall
use any remaining savings for further improvements in these
institutions.
(e) The cost of any improvement authorized by statute pursuant to
this chapter shall be considered an expenditure of state or community
college district funds in the fiscal year in which payments are made
to the board under the terms of the lease or lease-purchase
agreement.

15820.72. The board may contract for a project authorized by the
Legislature before issuing certificates, revenue bonds, notes, or
bond anticipation notes pursuant to Section 15820.74 if any segment
of higher education provides from any lawful source temporary
construction financing to meet contract payments for the project or
if the board obtains a loan from the General Fund. Any loan from the
General Fund shall be specifically authorized by the Legislature and
shall not exceed the amount authorized by the Legislature. The loan
amount shall be repaid by the board to the General Fund, together
with interest, in the amount that those moneys would have earned in
the Pooled Money Investment Account.

15820.73. The California State University, any community college
district, the California Maritime Academy, and the University of
California may be reimbursed for expenditures for preliminary plans
and working drawings for a project, if all the following conditions
are met:
(a) The project was authorized in a budget act or other statute
before the preliminary plans and working drawings were prepared.
(b) Funds for the reimbursement are appropriated by the
Legislature.
(c) All other applicable procedures were followed by the
California State University, the community college district, the
California Maritime Academy, or the University of California in
expending the funds. The advance of funds by the California State
University, a community college district, California Maritime
Academy, or University of California, for preliminary plans and
working drawings shall be made to promote early completion of a
project authorized by the Legislature.