SECTIONS 5096.201-5096.213 - California Statutes

PUBLIC RESOURCES CODE

SECTION 5096.201-5096.213

5096.201. Bonds in the total amount of two hundred eighty-five
million dollars ($285,000,000), or so much thereof as is necessary,
may be issued and sold to provide a fund to be used for carrying out
the purposes expressed in this chapter and to be used to reimburse
the General Obligation Bond Expense Revolving Fund pursuant to
Section 16724.5 of the Government Code. The bonds shall, when sold,
be and constitute a valid and binding obligation of the State of
California, and the full faith and credit of the State of California
is hereby pledged for the punctual payment of both principal and
interest on the bonds as the principal and interest become due and
payable.

5096.202. There shall be collected each year and in the same manner
and at the same time as other state revenue is collected such a sum
in addition to the ordinary revenues of the state as shall be
required to pay the principal and interest on the bonds maturing each
year, and it is hereby made the duty of all officers charged by law
with any duty in regard to the collection of the revenue to do and
perform each and every act which shall be necessary to collect that
additional sum.

5096.203. There is hereby appropriated from the General Fund in the
State Treasury for the purpose of this chapter, such an amount as
will equal the following:
(a) Such sum annually as will be necessary to pay the principal
and interest on bonds issued and sold pursuant to the provisions of
this chapter, as principal and interest become due and payable.
(b) Such sum as is necessary to carry out the provisions of
Section 5096.205, which sum is appropriated without regard to fiscal
years.

5096.204. The proceeds of bonds issued and sold pursuant to this
chapter shall be deposited in the Parklands Fund of 1980, which is
hereby created. The money in the fund may be expended only for the
purposes specified in this chapter and only pursuant to appropriation
by the Legislature in the manner prescribed in this chapter.

5096.205. For the purposes of carrying out the provisions of this
article, the Director of Finance may by executive order authorize the
withdrawal from the General Fund of an amount or amounts not to
exceed the amount of the unsold bonds which have been authorized to
be sold for the purpose of carrying out this chapter. Any moneys
deposited in the fund for expenditure for the purposes of subdivision
(d) of Section 5096.151 shall be transferred to the State Coastal
Conservancy upon appropriation by the Legislature in the manner
provided in Section 5096.206. Any moneys deposited in the fund for
expenditure for the purposes of subdivision (e) of Section 5096.151
shall be appropriated to the Department of Parks and Recreation in
the manner provided in Section 5096.206. Any amounts withdrawn shall
be deposited in the fund. Any moneys made available under this
section shall be returned to the General Fund from moneys received
from the sale of bonds for the purpose of carrying out the provisions
of this chapter.

5096.2055. Notwithstanding any other provision of this bond act, or
of the State General Obligation Bond Law (Chapter 4 (commencing with
Section 16720) of Part 3 of Division 4 of Title 2 of the Government
Code), if the Treasurer sells bonds pursuant to this bond act that
include a bond counsel opinion to the effect that the interest on the
bonds is excluded from gross income for federal tax purposes under
designated conditions, the Treasurer may maintain separate accounts
for the bond proceeds invested and the investment earnings on those
proceeds, and may use or direct the use of those proceeds or earnings
to pay any rebate, penalty, or other payment required under federal
law, or take any other action with respect to the investment and use
of those bond proceeds, as may be required or desirable under federal
law in order to maintain the tax-exempt status of those bonds and to
obtain any other advantage under federal law on behalf of the funds
of this state.

5096.206. All proposed appropriations for the program shall be
included in a section in the Budget Bill for the 1980-81 fiscal year
and each succeeding fiscal year for consideration by the Legislature
and shall bear the caption "Parklands Acquisition and Development
Program." The section shall contain separate items for each project,
each class of projects, or each element of the program for which an
appropriation is made.
All appropriations shall be subject to all limitations enacted in
the Budget Act and to all fiscal procedures prescribed by law with
respect to the expenditure of state funds unless expressly exempted
from such laws by a statute enacted by the Legislature. Such section
shall contain proposed appropriations only for the program elements
and classes of projects contemplated by this chapter, and no funds
derived from the bonds authorized by this chapter may be expended
pursuant to an appropriation not contained in such section of the
Budget Act.

5096.207. The bonds authorized by this chapter shall be prepared,
executed, issued, sold, paid, and redeemed as provided in the State
General Obligation Bond Law (Chapter 4 (commencing with Section
16720) of Part 3, Division 4, Title 2 of the Government Code), and
all of the provisions of that law are applicable to the bonds and to
this chapter and are hereby incorporated in this chapter as though
set forth in full herein.

5096.208. For the purpose of authorizing the issuance and sale,
pursuant to the State General Obligation Bond Law, of the bonds
authorized by this chapter, the Parklands Program Finance Committee
is hereby created. The committee consists of the Governor, the
Controller, the Director of Finance, the Treasurer, and the Secretary
of the Natural Resources Agency. For the purposes of this chapter,
the Parklands Program Finance Committee shall be "the committee" as
that term is used in the State General Obligation Bond Law, and the
State Treasurer shall serve as chair of the committee. The Secretary
of the Natural Resources Agency is hereby designated as "the board"
for the purposes of the State General Obligation Bond Law.

5096.209. As used in this chapter, and for the purposes of the
State General Obligation Bond Law, "state grant" or "state grant
moneys" means moneys received by the state from the sale of bonds
authorized by this chapter which are available for grants to
counties, cities, districts, and public agencies.

5096.210. All money deposited in the fund which is derived from
premium and accrued interest on bonds sold shall be reserved in such
depositories and shall be available for transfer to the General Fund
as a credit to expenditures for bond interest.

5096.211. Commencing with the Budget Bill for the 1990-91 fiscal
year, the balance remaining in the fund may be appropriated by the
Legislature for expenditure, without regard to the maximum amounts
allocated to each element of the program, for any or all elements of
the program specified in Section 5096.151, or any class or classes of
projects within such elements, that the Legislature deems to be of
the highest priority.

5096.212. The Legislature hereby finds and declares that, inasmuch
as the proceeds from the sale of bonds authorized by this chapter are
not "proceeds of taxes" as that term is used in Article XIII B of
the California Constitution, the disbursement of these proceeds is
not subject to the limitations imposed by that article.

5096.213. If any provision of this chapter or the application
thereof to any person or circumstances is held invalid, such
invalidity shall not affect other provisions or applications of the
chapter which can be given effect without the invalid provision or
application, and to this end, the provisions of this chapter are
severable.