SECTIONS 129200-129215 - California Statutes

HEALTH AND SAFETY CODE

SECTION 129200-129215

129200. There is hereby established a Health Facility Construction
Loan Insurance Fund, that shall be used by the office as a revolving
fund for carrying out the provisions and administrative costs of this
chapter. Notwithstanding Section 13340 of the Government Code, the
money in the fund is hereby continuously appropriated to the office
without regard to fiscal years for the purposes of this chapter.

129205. Moneys in the fund not needed for the current operations of
the office under this chapter shall be invested pursuant to law. The
office may, with the approval of the State Treasurer, purchase the
debentures issued under this chapter. Debentures so purchased shall
be canceled and not reissued.

129210. (a) The office's authorization to insure health facility
construction, improvement, and expansion loans under this chapter
shall be limited to a total of not more than three billion dollars
($3,000,000,000).
(b) Notwithstanding the limitation in subdivision (a), the office
may exceed the specific dollar limitation in either of the following
instances:
(1) Refinancing a preexisting loan, if the refinancing results in
savings to the health facility and increases the probability that a
loan can be repaid.
(2) The need for financing results from earthquakes or other
natural disasters.

129215. The Health Facility Construction Loan Insurance Fund,
established pursuant to Section 129200, shall be a trust fund and
neither the fund nor the interest or other earnings generated by the
fund shall be used for any purpose other than those purposes
authorized by this chapter.