SECTIONS 54125-54130 - California Statutes

GOVERNMENT CODE

SECTION 54125-54130

54125. As used in this article:
"Board" means the State Allocation Board.
"Local agency" means any city, city and county, county, or public
district.

54126. Upon the application of the legislative body of a local
agency the board may loan funds to a local agency for the
replacement, repair, or reconstruction of any public building or any
public facility of such local agency which has been damaged or
destroyed by earthquake after July 1, 1952, as provided in Sections
54129 and 54130, or the board may replace, repair, or reconstruct any
public building or any public facility of a local agency which has
been damaged or destroyed by earthquake after July 1, 1952, as
provided in Sections 54127 and 54128.

54127. The provisions of Sections 54096 to 54102, inclusive, 54104
to 54107, inclusive, and 54111 to 54116, inclusive, are incorporated
herein and made a part hereof as if fully set forth herein. The terms
"board" and "local agency" in the provisions so incorporated shall
mean the board and a local agency as defined in this article. The
Department of General Services succeeds to the functions and duties
of the Division of Architecture of the Department of Public Works
under Section 54115 of this section.

54128. The board and the local agency may agree upon the terms and
conditions of payment of rentals, which shall be fixed at an amount
which will return to the State within the period agreed by the board
and the local agency the sums which the State, through the board, has
expended for the local agency, plus an amount to be specified by the
board to be in lieu of the interest which the State would receive if
the money were to be invested by the State. The maximum term of an
agreement shall be 20 years. The board may require a shorter
repayment period.

54129. In the event that the board loans funds to a local agency,
the board and the local agency may agree upon the terms and
conditions of the payment of the principal and interest. The maximum
term of an agreement shall be 20 years. The board may require a
shorter repayment period.

54129.5. In the event that the board loans funds to a local agency,
the board may waive any provisions of Section 54127 it deems are not
applicable to or feasible for use in connection with such loans.

54130. A loan provided for in Sections 54126 and 54129 shall not be
made if it would provide for an indebtedness or liability contrary
to the provisions of Section 18 of Article XI of the Constitution
unless, at an election called by the governing body of the local
agency two-thirds of the qualified electors of the local agency
voting thereat have authorized the governing body of the local agency
to accept, expend, and repay the amount of the loan under this
article. Such election shall be held in accordance with provisions of
law for the incurring of bonded indebtedness by the local agency, as
near as the same may be applicable. Except as may be prohibited by
this section, a loan as provided for in Sections 54126 and 54129 may
be made to a local agency and the local agency may accept such a
loan, notwithstanding any other provision of law limiting or
prohibiting the creation of any indebtedness on the part of the local
agency.