California Government Code

§ 53313.5

GOV § 53313.5 Effective Jan 1, 2023Div. 2 · Title 5 · Part 1 · Ch. 2.5 · Art. 1

Statute text

A community facilities district may also finance the purchase, construction, expansion, improvement, or rehabilitation of any real or other tangible property with an estimated useful life of five years or longer or may finance planning and design work that is directly related to the purchase, construction, expansion, or rehabilitation of any real or tangible property. The facilities need not be physically located within the district. A district may not lease out facilities that it has financed except pursuant to a lease agreement or annexation agreement entered into prior to January 1, 1988. A district may only finance the purchase of facilities whose construction has been completed, as determined by the legislative body, before the resolution of formation to establish the district is adopted pursuant to Section 53325.1, except that a district may finance the purchase of facilities completed after the adoption of the resolution of formation if the facility was constructed as if it had been constructed under the direction and supervision, or under the authority of, the local agency that will own or operate the facility. For example, a community facilities district may finance facilities, including, but not limited to, the following:

(a)Local park, recreation, parkway, and open-space facilities.

(b)Elementary and secondary schoolsites and structures provided that the facilities meet the building area and cost standards established by the State Allocation Board.

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Legislative history

Amended (as amended by Stats. 2018, Ch. 837, Sec. 4) by Stats. 2022, Ch. 258, Sec. 21. (AB 2327) Effective January 1, 2023. Operative January 1, 2024, pursuant to Sec. 130 of Stats. 2022, Ch. 258. Repealed as of January 1, 2029, by its own provisions. See later operative version amended by Stats. 2022, Ch. 258, Sec. 22.