Section 15820.903 - Issuance of bonds or notes(a) The SPWB may issue up to three hundred forty million eight hundred sixty-six thousand dollars ($340,866,000) in revenue bonds, notes, or bond anticipation notes, pursuant to Chapter 5 of Part 10b of Division 3 of Title 2 (commencing with Section 15830) to finance the acquisition, design, or construction, and a reasonable construction reserve, of approved local jail facilities described in Section 15820.901, 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 utilized to reimburse a participating county for the costs of acquisition, preliminary plans, working drawings, and construction for approved projects.(c) Notwithstanding Section 13340, funds derived pursuant to this section and Section 15820.902 are continuously appropriated for purposes of this chapter.(d) This section shall become inoperative on June 30, 2017, and no project may be commenced after that date; however, projects that have already commenced by that date may be completed and financed with bonds issued pursuant to this chapter.Ca. Gov. Code § 15820.903
Amended by Stats 2015 ch 14 (AB 114),s 5, eff. 6/24/2015.Amended by Stats 2013 ch 627 (SB 365),s 1, eff. 1/1/2014.Amended by Stats 2012 ch 42 (SB 1022),s 7, eff. 6/27/2012.Amended by Stats 2011 ch 16 (AB 111),s 2, eff. 4/4/2011.Amended by Stats 2009 ch 16 (SB X3-14),s 9, eff. 2/20/2009.Added by Stats 2007 ch 7 (AB 900),s 4, eff. 5/3/2007.