SECTIONS 8610-8618 - California Statutes

PUBLIC RESOURCES CODE

SECTION 8610-8618

8610. There is in the State Treasury the Land Bank Fund, which fund
is hereby created. All moneys in the fund are appropriated to the
commission for expenditure, without regard to fiscal years, for the
purposes of Section 8625. When performing the powers and duties set
forth in this division, the commission shall be known as the Land
Bank Trustee.

8611. The commission shall be responsible for carrying out the
provisions of this division.

8612. The trustee is authorized to acquire real property or any
interest in real property for the purposes of facilitating title
settlements and, with respect to a project requiring mitigation, to
facilitate such mitigation.

8612.5. The trustee is authorized to manage and improve real
property for purposes of providing open space, habitat for plants and
animals, and public access.

8613. (a) Moneys in the fund shall be available for expenditure by
the trustee to purchase outstanding interests in tide and submerged
lands whether or not they have been filled, diked, or cut off from
tidal waters, lands which have been or may be converted to wetlands,
or adjoining or nearby lands where the public use and ownership of
the land is necessary or extremely beneficial for furtherance of
public trust purposes.
(b) Moneys deposited in the fund pursuant to subdivision (b) or
(c) of Section 8625 shall be available for expenditure by the trustee
for management and improvement of real property held by the trustee
to provide open space, habitat for plants and animals, and public
access.
(c) Notwithstanding any other law, the Controller may use the
moneys in the Land Bank Fund for loans to the General Fund as
provided in Sections 16310 and 16381 of the Government Code. However,
interest shall be paid on all moneys loaned to the General Fund from
the Land Bank Fund. Interest payable shall be computed at a rate
determined by the Pooled Money Investment Board to be the current
earning rate of the fund from which loaned. This subdivision does not
authorize any transfer that will interfere with the carrying out of
the object for which the Land Bank Fund was created.

8614. The acquisition and subsequent management of the real
property shall be consistent with the San Francisco Bay Plan
specified in Section 66603 of the Government Code, the Suisun Marsh
Protection Plan as defined in Section 29113 of the Public Resources
Code, and any land use plan of a local agency, including, but not
limited to, a port district, regional park, park and open-space, or
open-space district, or recreation and park district, whose
jurisdiction includes in whole or in part the acquired real property.

8615. The trustee shall act only at an open, scheduled public
meeting, subject to all provisions of Division 6 (commencing with
Section 6000) relating to meetings of the commission. The trustee may
combine its meetings with the meetings of the commission.

8616. The provisions of this division are not intended as
exclusive, and shall not restrict the commission in otherwise meeting
its responsibilities for resolving title disputes in lieu of
litigation or in settlement of litigation, in whole or in part, by
land bank agreements, or otherwise, or any other responsibilities and
jurisdiction the commission may presently have by law.

8617. The trustee is authorized to accept gifts of real property or
money for the purposes of this division.

8618. On or before January 2 of each year, the trustee shall
prepare and submit to the Governor and the Legislature a report
describing its progress in achieving the objectives of this division,
including the status of property acquisitions and an accounting of
the moneys in the fund.