§ 15816. — 15816. (Amended by Stats. 2015, Ch. 14, Sec. 3.)

California § 15816.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 3.
• Title 2.: DIVISION 3. EXECUTIVE DEPARTMENT
• Part 10b.: PART 10b. STATE BUILDING CONSTRUCTION
• Ch. 3.: CHAPTER 3. Construction and Leasing of Public Buildings

Text

(a)
When any public building has been acquired or constructed by the board, and the revenues, rentals, or receipts from the operation of the public building are no longer required or pledged for the payment of principal or interest on any of the certificates or revenue bonds of the board undertaken under this part, the public building shall be under the jurisdiction of, and operated and maintained by, the state
agency that had jurisdiction of the property prior to the board’s financing of the public building.
(b)
If at any time funds are available by law to retire any certificates or revenue bonds issued to defray the cost of any public building, these funds shall be applied to the redemption of certificates or revenue bonds secured by the rentals and revenues from that public building.

Legislative History

Amended by Stats. 2015, Ch. 14, Sec. 3. (AB 114) Effective June 24, 2015.