California Government Code

§ 15820.205

GOV § 15820.205 Effective Jul 2, 2024Div. 3 · Title 2 · Part 10b · Ch. 3.15

Statute text

(a)The board may issue up to eight hundred four million seven hundred twenty-five thousand dollars ($804,725,000) in revenue bonds, notes, or bond anticipation notes, pursuant to Chapter 5 (commencing with Section 15830), to finance the acquisition, design, and construction, including, without limitation, renovation and equipping of the approved student housing projects described in Section 15820.201, a reasonable construction reserve, and any additional amount authorized under Section 15849.6 to pay for the cost of financing.

(b)Proceeds from the revenue bonds, notes, or bond anticipation notes may be used to reimburse a participating college for costs incurred before the enactment of this chapter including the costs of acquisition, design, and construction, including, without limitation, renovation and equipping of the approved student housing projects. Those costs may include the repayment of loans obtained pursuant to Section 15820.203 which have been applied to repay allocations to the General Fund pursuant to subparagraph (A) of paragraph (2) of subdivision (n) of Section 17201 of the Education Code, as amended by Chapter 195 of the Statutes of 2023.

(c)Notwithstanding Section 13340, funds derived pursuant to this section and Section 15820.204 are continuously appropriated for purposes of this chapter.

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Legislative history

Added by Stats. 2024, Ch. 71, Sec. 11. (SB 155) Effective July 2, 2024.