SECTIONS 8790.20-8790.36 - California Statutes

GOVERNMENT CODE

SECTION 8790.20-8790.36

8790.20. As used in this article:
(a) "Board" means the State Public Works Board.
(b) "Bonds" means revenue bonds, notes, or bond anticipation notes
issued as provided in this article, for certain of the costs of the
collider.
(c) "Collider" means the Superconducting Super Collider and real
and personal property, equipment, and other attendant and related
facilities therefor, financed with the bonds.
(d) "Cost," as applied to the collider, means and includes all or
any part of the cost of the following:
(1) Construction.
(2) Acquisition or improvement of all lands, structures, real or
personal property, rights, rights-of-way, franchises, easements, and
interests acquired or used for the collider.
(3) Demolition, removal, or relocation of any buildings or
structures on land acquired for the collider, including the
acquisition of any lands to which the buildings or structures may be
moved.
(4) All machinery and equipment.
(5) Financing charges.
(6) Interest prior to, during, and for a period following, the
completion of such construction or improvement as determined by the
board.
(7) Provisions for working capital.
(8) Reserves for principal and interest, and for extensions,
enlargements, additions, replacements, renovations, and improvements.
(9) Engineering, architectural, financial, and legal services,
plans, specifications, studies, surveys, estimates, administrative
expenses, and other expenses necessary or incident to the
construction, acquisition, or improvement of the collider, or any
financing under this chapter.
(10) All expenses described in Section 8790.9 and all other
expenses required by the findings of the Environmental Impact Report.
(e) "Lease-purchase financing" means the sale and lease or other
transfer of state facilities for the purpose of securing bonds.
(f) "Lease" means any lease or other instrument of transfer of a
state facility by and betweeen the state agency and the board,
including any lease or other instrument of transfer from the state
agency to the board, and any leaseback or other instrument of
transfer from the board to the state agency.
(g) "State agency" means any state agency or department, including
the University of California, from which the board leases or
otherwise acquires the state facility.
(h) "State facility" means any real or personal property
recommended by the Regents of the University of California or the
commission, selected and acquired by, the board and leased or
otherwise transferred to the state agency for the purpose of
lease-purchase financing.
The recommended facility shall be authorized for lease-purchase
financing by a subsequent statute.

8790.21. (a) Without obtaining further authorization under Section
15808, the board shall select, and accept the transfer of title to,
any state facility at any site or sites for purposes of this article.
(b) The state agency shall transfer to the board the title of any
state facility at any site or sites selected by the board pursuant to
subdivision (a).
(c) The board shall have the power to enter into a lease with the
state agency pursuant to terms and conditions approved by the board.
In accordance with the terms of the lease, the board shall transfer
title of the state facility to the state agency.
(d) The Department of General Services shall approve all transfers
or leases or other agreements entered into pursuant to this article
when that approval is required by law.

8790.22. (a) The board may issue bonds, including refunding bonds,
pursuant to Chapter 5 (commencing with Section 15830) of Part 10b of
Division 3 in an aggregate principal amount not to exceed five
hundred sixty million dollars ($560,000,000). The bonds shall be in
the amounts, denominations, forms, executed in the manner, payable at
the place or places, at the time or times, with the maturity date or
dates, with terms of redemption and at the interest rate or rates,
either fixed or variable, as the board shall provide.
(b) The acquisition and lease of a state facility and the
financing of the cost of the collider constitutes the construction of
public buildings for the purposes of Chapter 5 (commencing with
Section 15830).

8790.23. Bonds authorized to be issued pursuant to this article
shall be sold pursuant to Section 15832.

8790.24. Notwithstanding Section 15816, the public buildings
financed by the board pursuant to this article shall, subject to the
terms of the lease, be and remain under the jurisdiction and control
of, and shall be operated and maintained by, the state agency.

8790.25. (a) It is the intent of the Legislature that lease
payments required pursuant to this article be made from moneys
received by the State Lands Commission pursuant to Section 6217 of
the Public Resources Code.
(b) Amounts necessary for lease payments pursuant to a lease are
hereby appropriated without regard to fiscal years from the General
Fund, but shall become available for expenditure only if the Director
of Finance certifies to the Controller that the amount required for
the lease payments are not available under subdivision (a).

8790.26. The revenues, rentals, and receipts from the facility
authorized to be financed under this article may be pledged for the
payment of principal of, premium, if any, and interest on, the bonds
issued pursuant to this article.

8790.27. The board, as additional security for the lease, may agree
to pledge and assign all or any portion of any moneys as may be
legally available from time to time, to secure payments of the bonds
to a fiscal agent, the treasurer, or to a trustee in trust for the
persons entitled thereto.

8790.28. In addition to any other powers granted by law, the board
may, for the purposes of this chapter, do any or all of the
following:
(a) Obtain insurance against loss by fire or other hazards on
public buildings and obtain insurance against loss of revenues from
any causes whatsoever, for the protection of the holders of bonds.
(b) Issue notes and bond anticipation notes as provided in this
article to obtain interim funds to pay the cost of public buildings,
secure the payment of notes and bond anticipation notes and interest
thereon as provided in this article, and provide for the security of
notes and bond anticipation notes and the rights of the holders
thereof.
(c) Execute and deliver a standby purchase agreement,
reimbursement agreement, or other similar credit enhancement vehicle
the terms and conditions of which may be approved by the board,
provided that any agreement or credit enhancement vehicle shall be a
special obligation of the board secured solely by the revenues,
rentals, or receipts received from the operation of the state
facility.

8790.29. A lease may be for any term not to exceed 40 years and may
contain other terms, covenants, and conditions as the board and the
state agency with the approval of the Department of General Services
may approve.

8790.30. The board shall transfer any proceeds received from the
sale of bonds issued pursuant to this article to the Department of
General Services. The Department of General Services shall expend
those funds as necessary pursuant to subdivision (b) of Section
8790.33.

8790.31. (a) There is under the jurisdiction of the Department of
General Services the SSC Development Fund, which is hereby created.
Moneys derived from the sale of the bonds and the lease-purchase
financing of the state facility as authorized by this article shall
be deposited in this fund or any other funds in the State Treasury as
the board shall direct. The Controller and the Treasurer shall
establish and maintain accounts and perform accounting transactions
as they may determine to be necessary or convenient to the
accomplishment of the purposes of this article.
(b) Notwithstanding Section 13340, funds derived from the lease
financing authorized by this article and deposited in that fund are
hereby continuously appropriated, without regard to fiscal years, to
the Department of General Services for the purpose of paying for the
costs of the collider.

8790.32. An amount not to exceed the amount of unsold bonds which
the board has by resolution authorized to be sold for the purposes of
carrying out this article is hereby appropriated from the General
Fund to the Director of Finance, who may direct that any portion of
that amount shall be deposited into a special account in the SSC
Development Fund, to be used for the financing costs of the collider.
Any amounts made available from the General Fund under this section
to the Department of General Services shall be repaid by the
Department of General Services to the General Fund from the proceeds
received from the sale of bonds sold for the purpose of carrying out
this article. These amounts shall be repaid to the General Fund with
interest at the rate which the Treasurer certifies would have been
earned on those amounts if invested in the Surplus Money Investment
Fund.

8790.33. (a) Any bonds issued under this chapter, their transfer,
and the income therefrom shall at all times be free from taxation of
every kind by the state and by all political subdivisions of the
state.
(b) The board is not required to pay any taxes or assessments
upon, or with respect to, the state facility acquired by or for the
board under this chapter, or upon any income therefrom, or on or from
any other assets or operations of the board.

8790.34. (a) This chapter provides a complete, additional, and
alternative method for accomplishing the acts authorized in this
chapter, and is supplemental and additional to the powers conferred
by other applicable laws, except that the issuance of bonds and
refunding bonds and the undertaking of the lease-purchase financing
under this chapter need not comply with the requirements of any other
laws applicable to the issuance of bonds, except as otherwise
provided in the chapter.

8790.36. This chapter shall be liberally construed to carry out the
objects and purposes and the declared policy of the state as set
forth in this chapter.