SECTIONS 15820.10-15820.13

15820.10.  (a) The board may issue certificates pursuant to Chapter4 (commencing with Section 15821) or revenue bonds, negotiable notes,or negotiable bond anticipation notes pursuant to Chapter 5(commencing with Section 15830) to finance the cost of constructionor renovation and the equipping of the public buildings or facilitiesauthorized by this chapter. (b) The revenues, rentals, or receipts from the public buildingsor facilities and equipment authorized by this chapter shall bepledged to the payment of the principal of, and the interest on, thecertificates, revenue bonds, notes, or anticipation notes issued tofinance the construction or renovation and the equipping of thosepublic buildings or facilities. (c) No certificates, revenue bonds, notes, or anticipation notesshall be issued, and no construction or renovation and the equippingfor any public building or facility authorized by this chapter shallbe commenced or purchased, unless the Legislature, by statute,authorizes the total amount of certificates, revenue bonds, notes, oranticipation notes that may be used to finance the construction ofthat public building or facility. (d) It is the intent of the Legislature that preliminary plans foreach project shall be made available for legislative review prior tothe authorization of funding under the provisions of this chapter.15820.11.  (a) The Legislature authorizes the use of revenue bondsand negotiable notes or negotiable bond anticipation notes to financethe construction of the Food and Agricultural Sciences Buildingcapital outlay project on the campus of the University of Californiaat Davis. (b) The amount of revenue bonds or negotiable notes to be soldshall equal the cost of construction, any additional sums necessaryto pay financing costs, including interest, during construction, anda reasonably required reserve fund. The amount of negotiable bondanticipation notes to be sold shall not exceed the amount of revenuebonds or negotiable notes authorized by this section. (c) Authorized construction costs shall be forty-two million threehundred ninety-seven thousand dollars ($42,397,000) based on theEngineering News Record Construction Cost Index 4400. (d) Any augmentation of the approved project costs shall besubject to the provisions of Section 13332.11 of the Government Code.15820.12.  The board may contract for a project authorized by theLegislature before issuing certificates, revenue bonds, notes, orbond anticipation notes pursuant to Section 15820.10 if any segmentof higher education provides from any lawful source temporaryconstruction financing to meet contract payments for the project orif the board obtains a loan from the General Fund. Any loan from theGeneral Fund shall be specifically authorized by the Legislature andshall not exceed the amount authorized by the Legislature. The loanamount shall be repaid by the board to the General Fund together withinterest in the amount that those moneys would have earned in thePooled Money Investment Account. It is the intent of this section to reduce the cost of theprojects and time between the authorization of capital outlayprojects by the Legislature and the availability of those projectsfor student and faculty use.15820.13.  (a) The Legislature authorizes the use of revenue bondsand negotiable notes or negotiable bond anticipation notes to financethe construction of the Equine Drug Testing Laboratory capitaloutlay project on the campus of the University of California atDavis. (b) The State Public Works Board may authorize the issuance ofrevenue bonds, negotiable notes, or negotiable bond anticipationnotes for an amount not to exceed six million six hundred thousanddollars ($6,600,000), based on the Engineering News RecordConstruction Cost Index 5900, to pay the costs of constructing andequipping the laboratory, plus any additional amount necessary tocover the costs of financing the constructing and equipping of thelaboratory, including interest during construction, the costs ofissuing the bonds or notes, and the cost of establishing a reasonablyrequired reserve fund. (c) The revenue bonds, negotiable notes, or negotiable bondanticipation notes shall not be authorized for issuance by the StatePublic Works Board until the time the Regents of the University ofCalifornia certify to the State Public Works Board and the JointLegislative Budget Committee that there are sufficient fundsavailable in the California Veterinary Diagnostic Laboratory Systemand California Center for Equine Health and Performance Account inthe Fair and Exposition Fund to provide necessary rental paymentsfrom which to repay the revenue bonds, negotiable notes, ornegotiable bond anticipation notes to be sold to finance the project,and until the Regents of the University of California agree to repaythe outstanding debt from non-General Fund moneys if the amount offunds in the California Veterinary Diagnostic Laboratory System andCalifornia Center for Equine Health and Performance Account in theFair and Exposition Fund are insufficient to repay any outstandingdebt. (d) Authorized total project costs shall not exceed twelve milliondollars ($12,000,000) based on the Engineering News RecordConstruction Cost Index 5900. (e) The difference between the authorized total project costsidentified in subdivision (d) and the amount to be financed asidentified in subdivision (b) is hereby appropriated from accumulatedparimutuel revenues from the portion of the California VeterinaryDiagnostic Laboratory System and California Center for Equine Healthand Performance Account in the Fair and Exposition Fund designatedfor the California Veterinary Diagnostic Laboratory System pursuantto subdivision (d) of Section 19578 of the Business and ProfessionsCode to the board for expenditure for the purposes of this section. (f) Any augmentation of the approved project costs shall besubject to Section 13332.11. (g) (1) The revenue bonds, negotiable notes, or negotiable bondanticipation notes to be sold to finance this project, and therelated interest and expenses, shall be repaid by rental payments forthe project made to the board by the Regents of the University ofCalifornia, which shall be solely funded from amounts on deposit inthe portion of the California Veterinary Diagnostic Laboratory Systemand California Center for Equine Health and Performance Account inthe Fair and Exposition Fund established pursuant to subdivision (d)of Section 19578 of the Business and Professions Code that aredesignated for the California Veterinary Diagnostic LaboratorySystem. (2) The State of California pledges to and agrees with the holdersof any revenue bonds, negotiable notes, or bond anticipation notessold to finance this project that the state will not alter or changethe structure of funding of, and deposits to, the CaliforniaVeterinary Diagnostic Laboratory System and California Center forEquine Health and Performance Account or the pledge of funds for debtservice, security, including any coverage factors and expensesentered into by the board pursuant to this part until the revenuebonds, negotiable notes, or negotiable bond anticipation notes soldto finance this project are fully paid or discharged or have beenfully provided for in accordance with their terms. However, nothingprecludes any alterations or changes if adequate provision is made bylaw for the protection from impairment of the contract representedby the bonds or other indebtedness, or obligations, and the right toso alter or change is hereby reserved. The board and the Regents ofthe University of California may include this pledge and undertakingof the state in their bonds, indentures, leases, or other documentsrelating to the obligations authorized in this section. (3) Due to the exclusive source of repayment provided for in thissection, all contrary provisions of this part, including, but notlimited to, Sections 15848 and 15849.2, which provide for othersources and methods of payment, do not apply. Notwithstanding anyother provision of law, if the amount of funds in the CaliforniaVeterinary Diagnostic Laboratory System and California Center forEquine Health and Performance Account in the Fair and Exposition Fundis insufficient to repay the revenue bonds, negotiable notes, ornegotiable bond anticipation notes sold to finance this project andrelated interest and expenses, moneys appropriated from the GeneralFund shall not be used as an alternative source of repayment. (h) Revenue bonds, negotiable notes, or negotiable bondanticipation notes issued under this section shall not constitute adebt or liability of the state, and do not constitute a pledge of thefull faith and credit of the state. The issuance of bonds under thissection shall not directly or indirectly or contingently obligatethe state to levy or to pledge any form of taxation whatever or tomake any appropriation for their payment. (i) As an alternative to the issuance of bonds, notes, or otherindebtedness by the Public Works Board, the Regents of the Universityof California may issue bonds, notes, or other indebtedness in orderto finance the construction of the Equine Drug Testing Laboratorypursuant to this section, provided that no moneys appropriated fromthe General Fund shall be used to secure or repay any of theindebtedness of the regents.