§ 15819.30. — 15819.30. (Added by Stats. 1989, Ch. 1391, Sec. 2.)

California § 15819.30.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 3.
• Title 2.: DIVISION 3. EXECUTIVE DEPARTMENT
• Part 10b.: PART 10b. STATE BUILDING CONSTRUCTION
• Ch. 3.2.: CHAPTER 3.2. Financing of Franchise Tax Board Central Office Project

Text

(a)
The board may issue revenue bonds, negotiable notes, or negotiable bond anticipation notes pursuant to Chapter 5 (commencing with Section 15830) to finance the construction of the second phase of the Franchise Tax Board central office project, parking facilities, and any other improvements, betterments, and facilities related thereto as described in Section 15704.
(b)
The amount of revenue bonds, negotiable notes, or negotiable bond anticipation notes to be sold shall equal the cost of construction, the cost of working drawings, and any additional sums necessary
to pay financing costs, including interest during construction, and a reasonably required reserve fund.
(c)
The amount of negotiable bond anticipation notes to be sold shall not exceed the amount of revenue bonds or negotiable notes authorized by this section.
(d)
Authorized construction costs shall not exceed forty million dollars ($40,000,000) based on the Lee Saylor Cost Index 433.
(e)
Any augmentation of the approved project costs shall be subject to the provisions of Section 13332.11.
(f)
The board may borrow funds for project costs from the Pooled Money Investment Account pursuant to Sections 16312 and 16313.

Legislative History

Added by Stats. 1989, Ch. 1391, Sec. 2.