State Codes and Statutes

Statutes > California > Gov > 15845-15849.7

GOVERNMENT CODE
SECTION 15845-15849.7



15845.  All money received by the board from whatever source
derived, shall be transmitted by the board at least once in every
calendar month to the State Treasurer, and shall be deposited in the
State Treasury to the credit of the Public Buildings Construction
Fund, which fund is hereby created and is appropriated for the
purpose hereinafter provided. There shall be maintained within the
fund three separate accounts for each series of certificates or
revenue bonds covering all the public buildings authorized, under
this part, at any one session of the Legislature:
   (a) A construction account
   (b) A revenue account
   (c) A sinking fund account
   There shall be deposited to the credit of the respective series in
the construction account the proceeds from the sale of each series
of certificates or revenue bonds authorized under the provisions of
this part. The money in each such account shall be expended, for the
purposes authorized by this part, or as provided in the resolution,
for the acquisition and construction of the public buildings, and in
addition, for the payment of all costs and expenses of, and incident
to, the issuance and sale of certificates or revenue bonds, and the
payment of interest due or to become due on the certificates or
revenue bonds during the period of actual construction, and for such
further period as may be specified in the resolution for the issuance
of the certificates or revenue bonds, not exceeding six months after
the period of construction.
   There shall be deposited to the credit of the respective series in
the revenue account all revenues, rentals, or receipts received from
the operation of each series of public buildings acquired,
constructed, or operated by the board under the provisions of this
part, and all other money received by the board from whatever source
derived, the disposition of which is not otherwise provided by this
part.
   The money in each revenue account shall be expended for the
payment of the costs of operation and maintenance of the public
buildings authorized by this part, including administrative expenses
of the board, and for such other purposes as may be provided in the
resolution, subject to any restrictions provided by law or by the
resolution.
   All money in each revenue account, except that part required to
pay the costs of operating the board, as provided for in the
resolution authorizing the issuance of the certificates or revenue
bonds, shall be set aside at regular intervals as provided in the
resolution in separate sinking fund accounts for each series of
certificates or revenue bonds, which are pledged to and charged with
the payment of:
   (a) The interest upon such certificates or revenue bonds as the
interest falls due.
   (b) The principal of the certificates or revenue bonds as it falls
due.
   (c) Any redemption value upon certificates or revenue bonds
retired by call.
   The use and disposition of the sinking fund account is subject to
the regulations provided in the resolution. Each separate sinking
fund account is an account for the benefit of each of the respective
series of the certificates or revenue bonds issued, without
distinction or priority of one over another, except as to series.
Subject to the provisions of the resolution, any money in the sinking
fund account of each series in excess of the amount equal to one
year's interest on all certificates or revenue bonds of that series
then outstanding may be applied to the purchase or redemption of
certificates or revenue bonds of such series. All certificates or
revenue bonds purchased or redeemed shall be canceled and shall not
be issued again.


15845.5.  Payments to the board pursuant to Chapter 2.7 (commencing
with Section 15814.10) shall be deposited in a separate revenue
account in the Public Buildings Construction Fund for disposition as
may be provided by the board pursuant to Section 15845. All moneys in
the revenue account in excess of the amounts required by law or by
any resolution authorizing the issuance of revenue bonds to be
maintained therein may be expended for the acquisition or
construction of cogeneration and alternative energy equipment and
conservation measures constituting the public buildings authorized by
Chapter 2.7 (commencing with Section 15814.10) or may be transferred
on order of the board to any state agency involved with the board in
a conservation, cogeneration or alternate energy project, in
augmentation of any appropriation available to the state agency,
until the board determines that the moneys are no longer required to
enable the board to properly perform the duties authorized by Chapter
2.7 (commencing with Section 15814.10), whereupon those moneys shall
be transferred to the appropriate state fund.
   In making an augmentation under this section, the board shall give
special consideration to the benefits resulting from the project in
which the agency is involved.



15846.  The board may provide in the resolution for the allocation
of financial and administrative costs of the board during the period
of actual construction, and for such further period as may be
specified in the resolution for the issuance of the certificates or
revenue bonds, not exceeding two years, between the money in each
construction account and the money in each revenue account.



15847.  Subject to the obligations of the board to its certificate
holders or bondholders, the Treasurer is authorized to invest and
reinvest moneys in any of the accounts in the Public Buildings
Construction Fund, in such eligible securities specified in Section
16430 as the board shall designate. The board may direct the
Treasurer to deposit moneys in interest-bearing accounts in state or
national banks or in state or federal savings and loan associations
having principal offices in this state. All such deposits in banks
and savings and loan associations shall be secured at all times, in
the same manner as state moneys are by law required to be secured.
The board may alternatively require the transfer of moneys in the
accounts to the Surplus Money Investment Fund for investment pursuant
to Article 4 (commencing with Section 16470) of Chapter 3 of Part 2
of Division 4 of Title 2. All securities or other investments made
under the provisions of this part shall be held by the Treasurer as
custodian thereof.
   All interest received or other earnings derived from such
investments shall be collected by the Treasurer, and shall be
deposited in the State Treasury to the credit of the account in the
fund from which such interest or other earnings were derived.
   Expenses incurred by the Treasurer in taking and making delivery
of bonds or other securities purchased as investments from such money
in the fund may be paid from the fund.



15848.  Notwithstanding Section 13340 or any other provision of law,
the amount as may be necessary to pay the rent of any agency
occupying space in a facility authorized to be acquired or
constructed under the State Building Construction Act of 1955 or a
facility leased by a state agency pursuant to a joint powers
agreement in accordance with Chapter 5 (commencing with Section 6500)
of Division 7 of Title 1 is hereby appropriated each fiscal year
payable from the fund in the State Treasury from which that agency
derives its appropriation for support and shall become available only
if the rental payments are due during a period that the state is
operating without funds appropriated by the Budget Act for that
fiscal year or if the amount required to pay the rental payments has
not been included in the Budget Act for that fiscal year and the
Department of Finance certifies to the Controller that sufficient
funds are available for the support of the agency for that portion of
the facility that has been provided for its use and the facility or
portion thereof is available for the use and occupancy of the agency.
This appropriation shall be inoperative as to any facility that is
transferred to the jurisdiction of the Department of General Services
pursuant to subdivision (a) of Section 15816, to any facility
transferred to a state agency pursuant to a joint powers agreement,
or to any facility the title of which has vested in the Regents of
the University of California, the Trustees of the California State
University, the Board of Governors of the California Maritime
Academy, or any community college district pursuant to subdivision
(b) of Section 15816.


15849.  Such amount as may be necessary to pay monthly the amount
required to pay rent for the buildings and facilities authorized to
be constructed on the new site of the California State Fair and
Exposition under the provisions of the State Building Construction
Act of 1955 (commencing at Section 15800) is hereby appropriated each
fiscal year, payable first from the State Fair Fund in the State
Treasury, to become available only if the Department of Finance
certifies to the State Controller that the amount required to pay
such rent has not been included in the Budget Act for such fiscal
year. If there is insufficient money in the State Fair Fund to pay
such rent, the appropriation shall be payable from all the license
fees for conducting horse racing meetings not payable into the Fairs
and Exposition Fund, or into the Wildlife Restoration Fund, pursuant
to Section 19627 of the Business and Professions Code.
   Any amount paid from such license fees shall be reimbursed from
the State Fair Fund when the Department of Finance certifies to the
State Controller that sufficient money is in the State Fair Fund to
make such reimbursement. The appropriation herein made shall become
inoperative when the buildings or facilities constructed by the State
Public Works Board on the new site have been transferred to the
jurisdiction of the California State Fair and Exposition.



15849.1.  An amount not to exceed the amount of unsold bonds which
the board has by resolution authorized to be sold for the purposes of
carrying out this part is hereby appropriated from the General Fund
to the Director of Finance, who may direct that any portion of that
amount shall be deposited into a special account in the Public
Building Construction Fund, to be used for the construction of public
buildings to be financed pursuant to this part, as authorized by the
Legislature. Any amounts made available from the General Fund under
this section to the board shall be repaid by the board to the General
Fund from the proceeds received from the sale of bonds sold for the
purpose of financing the public buildings. These amounts shall be
repaid to the General Fund with interest at the rate which the
Treasurer certifies would have been earned on those amounts if
invested in the Surplus Money Investment Fund.



15849.2.  In order to more fully secure the bonds authorized to be
issued pursuant to this part, when during any fiscal year any
appropriation is made to a state agency which has leased or otherwise
contracted with the board for a public building pursuant to this
part, the state agency shall allocate from the first lawfully
available funds so appropriated that amount necessary to pay in full
all amounts which are anticipated to become due and payable during
the fiscal year under the lease or contract.



15849.3.  Notwithstanding any provision of this part to the
contrary, the board may from time to time issue its bonds, notes, or
other obligations pursuant to an indenture which may contain terms
and conditions authorized by this part for resolutions of the board
authorizing the issuance of its bonds, notes, or other obligations.




15849.5.  The California State University, any community college
district, the California Maritime Academy, and the University of
California may be reimbursed for expenditures for preliminary plans
and working drawings for a project if all of the following conditions
are met:
   (a) The project was authorized in a budget act or other statute
before the preliminary plans and working drawings were prepared.
   (b) Funds for the reimbursement are appropriated by the
Legislature.
   (c) All other applicable procedures were followed by the
California State University, the community college district, the
California Maritime Academy, or the University of California in
expending the funds.
   The advance of funds by the California State University, a
community college district, the California Maritime Academy, or the
University of California for preliminary plans and working drawings
shall be made to promote early completion of a project authorized by
the Legislature.



15849.6.  Notwithstanding any provision of this part to the
contrary, the board may issue bonds, notes, or other obligations to
finance the acquisition or construction of a public building,
facility, or equipment as authorized by the Legislature, in the total
amount authorized by the Legislature, and any additional amount
authorized by the board to pay the cost of financing. This additional
amount may include interest during acquisition or interest prior to,
during, and for a period of six months after construction of the
public building, facility, or equipment, interest payable on any
interim loan for the public building, facility, or equipment from the
General Fund or from the Pooled Money Investment Account, a
reasonably required reserve fund, and the costs of issuance of any
interim financing and permanent financing after completion of the
construction or acquisition of the public building, facility, or
equipment.
   This section shall be applicable to, but not limited to, bonds,
notes, or obligations of the board that were authorized by
appropriations of the Legislature made prior to the effective date of
this section.



15849.6.  Notwithstanding any provision of this part to the
contrary, the board may issue bonds, notes, or other obligations to
finance the acquisition or construction of a public building,
facility, or equipment as authorized by the Legislature, in the total
amount authorized by the Legislature, and any additional amount
authorized by the board to pay the cost of financing. This additional
amount may include interest during acquisition or interest prior to,
during, and for a period of six months after construction of the
public building, facility, or equipment, interest payable on any
interim loan for the public building, facility, or equipment from the
General Fund or from the Pooled Money Investment Account, a
reasonably required reserve fund, and the costs of issuance of any
interim financing and permanent financing after completion of the
construction or acquisition of the public building, facility, or
equipment.
   This section shall be applicable to, but not limited to, bonds,
notes, or obligations of the board that were authorized by
appropriations of the Legislature made prior to the effective date of
this section.



15849.7.  Notwithstanding any other provision of law, including, but
not limited to, any specific grant of authority on or after June 30,
2001, the State Public Works Board may issue bonds, notes, or bond
anticipation notes for any and all phases of any capital outlay
project authorized to be financed pursuant to Chapter 5 (commencing
with Section 15830).


State Codes and Statutes

Statutes > California > Gov > 15845-15849.7

GOVERNMENT CODE
SECTION 15845-15849.7



15845.  All money received by the board from whatever source
derived, shall be transmitted by the board at least once in every
calendar month to the State Treasurer, and shall be deposited in the
State Treasury to the credit of the Public Buildings Construction
Fund, which fund is hereby created and is appropriated for the
purpose hereinafter provided. There shall be maintained within the
fund three separate accounts for each series of certificates or
revenue bonds covering all the public buildings authorized, under
this part, at any one session of the Legislature:
   (a) A construction account
   (b) A revenue account
   (c) A sinking fund account
   There shall be deposited to the credit of the respective series in
the construction account the proceeds from the sale of each series
of certificates or revenue bonds authorized under the provisions of
this part. The money in each such account shall be expended, for the
purposes authorized by this part, or as provided in the resolution,
for the acquisition and construction of the public buildings, and in
addition, for the payment of all costs and expenses of, and incident
to, the issuance and sale of certificates or revenue bonds, and the
payment of interest due or to become due on the certificates or
revenue bonds during the period of actual construction, and for such
further period as may be specified in the resolution for the issuance
of the certificates or revenue bonds, not exceeding six months after
the period of construction.
   There shall be deposited to the credit of the respective series in
the revenue account all revenues, rentals, or receipts received from
the operation of each series of public buildings acquired,
constructed, or operated by the board under the provisions of this
part, and all other money received by the board from whatever source
derived, the disposition of which is not otherwise provided by this
part.
   The money in each revenue account shall be expended for the
payment of the costs of operation and maintenance of the public
buildings authorized by this part, including administrative expenses
of the board, and for such other purposes as may be provided in the
resolution, subject to any restrictions provided by law or by the
resolution.
   All money in each revenue account, except that part required to
pay the costs of operating the board, as provided for in the
resolution authorizing the issuance of the certificates or revenue
bonds, shall be set aside at regular intervals as provided in the
resolution in separate sinking fund accounts for each series of
certificates or revenue bonds, which are pledged to and charged with
the payment of:
   (a) The interest upon such certificates or revenue bonds as the
interest falls due.
   (b) The principal of the certificates or revenue bonds as it falls
due.
   (c) Any redemption value upon certificates or revenue bonds
retired by call.
   The use and disposition of the sinking fund account is subject to
the regulations provided in the resolution. Each separate sinking
fund account is an account for the benefit of each of the respective
series of the certificates or revenue bonds issued, without
distinction or priority of one over another, except as to series.
Subject to the provisions of the resolution, any money in the sinking
fund account of each series in excess of the amount equal to one
year's interest on all certificates or revenue bonds of that series
then outstanding may be applied to the purchase or redemption of
certificates or revenue bonds of such series. All certificates or
revenue bonds purchased or redeemed shall be canceled and shall not
be issued again.


15845.5.  Payments to the board pursuant to Chapter 2.7 (commencing
with Section 15814.10) shall be deposited in a separate revenue
account in the Public Buildings Construction Fund for disposition as
may be provided by the board pursuant to Section 15845. All moneys in
the revenue account in excess of the amounts required by law or by
any resolution authorizing the issuance of revenue bonds to be
maintained therein may be expended for the acquisition or
construction of cogeneration and alternative energy equipment and
conservation measures constituting the public buildings authorized by
Chapter 2.7 (commencing with Section 15814.10) or may be transferred
on order of the board to any state agency involved with the board in
a conservation, cogeneration or alternate energy project, in
augmentation of any appropriation available to the state agency,
until the board determines that the moneys are no longer required to
enable the board to properly perform the duties authorized by Chapter
2.7 (commencing with Section 15814.10), whereupon those moneys shall
be transferred to the appropriate state fund.
   In making an augmentation under this section, the board shall give
special consideration to the benefits resulting from the project in
which the agency is involved.



15846.  The board may provide in the resolution for the allocation
of financial and administrative costs of the board during the period
of actual construction, and for such further period as may be
specified in the resolution for the issuance of the certificates or
revenue bonds, not exceeding two years, between the money in each
construction account and the money in each revenue account.



15847.  Subject to the obligations of the board to its certificate
holders or bondholders, the Treasurer is authorized to invest and
reinvest moneys in any of the accounts in the Public Buildings
Construction Fund, in such eligible securities specified in Section
16430 as the board shall designate. The board may direct the
Treasurer to deposit moneys in interest-bearing accounts in state or
national banks or in state or federal savings and loan associations
having principal offices in this state. All such deposits in banks
and savings and loan associations shall be secured at all times, in
the same manner as state moneys are by law required to be secured.
The board may alternatively require the transfer of moneys in the
accounts to the Surplus Money Investment Fund for investment pursuant
to Article 4 (commencing with Section 16470) of Chapter 3 of Part 2
of Division 4 of Title 2. All securities or other investments made
under the provisions of this part shall be held by the Treasurer as
custodian thereof.
   All interest received or other earnings derived from such
investments shall be collected by the Treasurer, and shall be
deposited in the State Treasury to the credit of the account in the
fund from which such interest or other earnings were derived.
   Expenses incurred by the Treasurer in taking and making delivery
of bonds or other securities purchased as investments from such money
in the fund may be paid from the fund.



15848.  Notwithstanding Section 13340 or any other provision of law,
the amount as may be necessary to pay the rent of any agency
occupying space in a facility authorized to be acquired or
constructed under the State Building Construction Act of 1955 or a
facility leased by a state agency pursuant to a joint powers
agreement in accordance with Chapter 5 (commencing with Section 6500)
of Division 7 of Title 1 is hereby appropriated each fiscal year
payable from the fund in the State Treasury from which that agency
derives its appropriation for support and shall become available only
if the rental payments are due during a period that the state is
operating without funds appropriated by the Budget Act for that
fiscal year or if the amount required to pay the rental payments has
not been included in the Budget Act for that fiscal year and the
Department of Finance certifies to the Controller that sufficient
funds are available for the support of the agency for that portion of
the facility that has been provided for its use and the facility or
portion thereof is available for the use and occupancy of the agency.
This appropriation shall be inoperative as to any facility that is
transferred to the jurisdiction of the Department of General Services
pursuant to subdivision (a) of Section 15816, to any facility
transferred to a state agency pursuant to a joint powers agreement,
or to any facility the title of which has vested in the Regents of
the University of California, the Trustees of the California State
University, the Board of Governors of the California Maritime
Academy, or any community college district pursuant to subdivision
(b) of Section 15816.


15849.  Such amount as may be necessary to pay monthly the amount
required to pay rent for the buildings and facilities authorized to
be constructed on the new site of the California State Fair and
Exposition under the provisions of the State Building Construction
Act of 1955 (commencing at Section 15800) is hereby appropriated each
fiscal year, payable first from the State Fair Fund in the State
Treasury, to become available only if the Department of Finance
certifies to the State Controller that the amount required to pay
such rent has not been included in the Budget Act for such fiscal
year. If there is insufficient money in the State Fair Fund to pay
such rent, the appropriation shall be payable from all the license
fees for conducting horse racing meetings not payable into the Fairs
and Exposition Fund, or into the Wildlife Restoration Fund, pursuant
to Section 19627 of the Business and Professions Code.
   Any amount paid from such license fees shall be reimbursed from
the State Fair Fund when the Department of Finance certifies to the
State Controller that sufficient money is in the State Fair Fund to
make such reimbursement. The appropriation herein made shall become
inoperative when the buildings or facilities constructed by the State
Public Works Board on the new site have been transferred to the
jurisdiction of the California State Fair and Exposition.



15849.1.  An amount not to exceed the amount of unsold bonds which
the board has by resolution authorized to be sold for the purposes of
carrying out this part is hereby appropriated from the General Fund
to the Director of Finance, who may direct that any portion of that
amount shall be deposited into a special account in the Public
Building Construction Fund, to be used for the construction of public
buildings to be financed pursuant to this part, as authorized by the
Legislature. Any amounts made available from the General Fund under
this section to the board shall be repaid by the board to the General
Fund from the proceeds received from the sale of bonds sold for the
purpose of financing the public buildings. These amounts shall be
repaid to the General Fund with interest at the rate which the
Treasurer certifies would have been earned on those amounts if
invested in the Surplus Money Investment Fund.



15849.2.  In order to more fully secure the bonds authorized to be
issued pursuant to this part, when during any fiscal year any
appropriation is made to a state agency which has leased or otherwise
contracted with the board for a public building pursuant to this
part, the state agency shall allocate from the first lawfully
available funds so appropriated that amount necessary to pay in full
all amounts which are anticipated to become due and payable during
the fiscal year under the lease or contract.



15849.3.  Notwithstanding any provision of this part to the
contrary, the board may from time to time issue its bonds, notes, or
other obligations pursuant to an indenture which may contain terms
and conditions authorized by this part for resolutions of the board
authorizing the issuance of its bonds, notes, or other obligations.




15849.5.  The California State University, any community college
district, the California Maritime Academy, and the University of
California may be reimbursed for expenditures for preliminary plans
and working drawings for a project if all of the following conditions
are met:
   (a) The project was authorized in a budget act or other statute
before the preliminary plans and working drawings were prepared.
   (b) Funds for the reimbursement are appropriated by the
Legislature.
   (c) All other applicable procedures were followed by the
California State University, the community college district, the
California Maritime Academy, or the University of California in
expending the funds.
   The advance of funds by the California State University, a
community college district, the California Maritime Academy, or the
University of California for preliminary plans and working drawings
shall be made to promote early completion of a project authorized by
the Legislature.



15849.6.  Notwithstanding any provision of this part to the
contrary, the board may issue bonds, notes, or other obligations to
finance the acquisition or construction of a public building,
facility, or equipment as authorized by the Legislature, in the total
amount authorized by the Legislature, and any additional amount
authorized by the board to pay the cost of financing. This additional
amount may include interest during acquisition or interest prior to,
during, and for a period of six months after construction of the
public building, facility, or equipment, interest payable on any
interim loan for the public building, facility, or equipment from the
General Fund or from the Pooled Money Investment Account, a
reasonably required reserve fund, and the costs of issuance of any
interim financing and permanent financing after completion of the
construction or acquisition of the public building, facility, or
equipment.
   This section shall be applicable to, but not limited to, bonds,
notes, or obligations of the board that were authorized by
appropriations of the Legislature made prior to the effective date of
this section.



15849.6.  Notwithstanding any provision of this part to the
contrary, the board may issue bonds, notes, or other obligations to
finance the acquisition or construction of a public building,
facility, or equipment as authorized by the Legislature, in the total
amount authorized by the Legislature, and any additional amount
authorized by the board to pay the cost of financing. This additional
amount may include interest during acquisition or interest prior to,
during, and for a period of six months after construction of the
public building, facility, or equipment, interest payable on any
interim loan for the public building, facility, or equipment from the
General Fund or from the Pooled Money Investment Account, a
reasonably required reserve fund, and the costs of issuance of any
interim financing and permanent financing after completion of the
construction or acquisition of the public building, facility, or
equipment.
   This section shall be applicable to, but not limited to, bonds,
notes, or obligations of the board that were authorized by
appropriations of the Legislature made prior to the effective date of
this section.



15849.7.  Notwithstanding any other provision of law, including, but
not limited to, any specific grant of authority on or after June 30,
2001, the State Public Works Board may issue bonds, notes, or bond
anticipation notes for any and all phases of any capital outlay
project authorized to be financed pursuant to Chapter 5 (commencing
with Section 15830).



State Codes and Statutes

State Codes and Statutes

Statutes > California > Gov > 15845-15849.7

GOVERNMENT CODE
SECTION 15845-15849.7



15845.  All money received by the board from whatever source
derived, shall be transmitted by the board at least once in every
calendar month to the State Treasurer, and shall be deposited in the
State Treasury to the credit of the Public Buildings Construction
Fund, which fund is hereby created and is appropriated for the
purpose hereinafter provided. There shall be maintained within the
fund three separate accounts for each series of certificates or
revenue bonds covering all the public buildings authorized, under
this part, at any one session of the Legislature:
   (a) A construction account
   (b) A revenue account
   (c) A sinking fund account
   There shall be deposited to the credit of the respective series in
the construction account the proceeds from the sale of each series
of certificates or revenue bonds authorized under the provisions of
this part. The money in each such account shall be expended, for the
purposes authorized by this part, or as provided in the resolution,
for the acquisition and construction of the public buildings, and in
addition, for the payment of all costs and expenses of, and incident
to, the issuance and sale of certificates or revenue bonds, and the
payment of interest due or to become due on the certificates or
revenue bonds during the period of actual construction, and for such
further period as may be specified in the resolution for the issuance
of the certificates or revenue bonds, not exceeding six months after
the period of construction.
   There shall be deposited to the credit of the respective series in
the revenue account all revenues, rentals, or receipts received from
the operation of each series of public buildings acquired,
constructed, or operated by the board under the provisions of this
part, and all other money received by the board from whatever source
derived, the disposition of which is not otherwise provided by this
part.
   The money in each revenue account shall be expended for the
payment of the costs of operation and maintenance of the public
buildings authorized by this part, including administrative expenses
of the board, and for such other purposes as may be provided in the
resolution, subject to any restrictions provided by law or by the
resolution.
   All money in each revenue account, except that part required to
pay the costs of operating the board, as provided for in the
resolution authorizing the issuance of the certificates or revenue
bonds, shall be set aside at regular intervals as provided in the
resolution in separate sinking fund accounts for each series of
certificates or revenue bonds, which are pledged to and charged with
the payment of:
   (a) The interest upon such certificates or revenue bonds as the
interest falls due.
   (b) The principal of the certificates or revenue bonds as it falls
due.
   (c) Any redemption value upon certificates or revenue bonds
retired by call.
   The use and disposition of the sinking fund account is subject to
the regulations provided in the resolution. Each separate sinking
fund account is an account for the benefit of each of the respective
series of the certificates or revenue bonds issued, without
distinction or priority of one over another, except as to series.
Subject to the provisions of the resolution, any money in the sinking
fund account of each series in excess of the amount equal to one
year's interest on all certificates or revenue bonds of that series
then outstanding may be applied to the purchase or redemption of
certificates or revenue bonds of such series. All certificates or
revenue bonds purchased or redeemed shall be canceled and shall not
be issued again.


15845.5.  Payments to the board pursuant to Chapter 2.7 (commencing
with Section 15814.10) shall be deposited in a separate revenue
account in the Public Buildings Construction Fund for disposition as
may be provided by the board pursuant to Section 15845. All moneys in
the revenue account in excess of the amounts required by law or by
any resolution authorizing the issuance of revenue bonds to be
maintained therein may be expended for the acquisition or
construction of cogeneration and alternative energy equipment and
conservation measures constituting the public buildings authorized by
Chapter 2.7 (commencing with Section 15814.10) or may be transferred
on order of the board to any state agency involved with the board in
a conservation, cogeneration or alternate energy project, in
augmentation of any appropriation available to the state agency,
until the board determines that the moneys are no longer required to
enable the board to properly perform the duties authorized by Chapter
2.7 (commencing with Section 15814.10), whereupon those moneys shall
be transferred to the appropriate state fund.
   In making an augmentation under this section, the board shall give
special consideration to the benefits resulting from the project in
which the agency is involved.



15846.  The board may provide in the resolution for the allocation
of financial and administrative costs of the board during the period
of actual construction, and for such further period as may be
specified in the resolution for the issuance of the certificates or
revenue bonds, not exceeding two years, between the money in each
construction account and the money in each revenue account.



15847.  Subject to the obligations of the board to its certificate
holders or bondholders, the Treasurer is authorized to invest and
reinvest moneys in any of the accounts in the Public Buildings
Construction Fund, in such eligible securities specified in Section
16430 as the board shall designate. The board may direct the
Treasurer to deposit moneys in interest-bearing accounts in state or
national banks or in state or federal savings and loan associations
having principal offices in this state. All such deposits in banks
and savings and loan associations shall be secured at all times, in
the same manner as state moneys are by law required to be secured.
The board may alternatively require the transfer of moneys in the
accounts to the Surplus Money Investment Fund for investment pursuant
to Article 4 (commencing with Section 16470) of Chapter 3 of Part 2
of Division 4 of Title 2. All securities or other investments made
under the provisions of this part shall be held by the Treasurer as
custodian thereof.
   All interest received or other earnings derived from such
investments shall be collected by the Treasurer, and shall be
deposited in the State Treasury to the credit of the account in the
fund from which such interest or other earnings were derived.
   Expenses incurred by the Treasurer in taking and making delivery
of bonds or other securities purchased as investments from such money
in the fund may be paid from the fund.



15848.  Notwithstanding Section 13340 or any other provision of law,
the amount as may be necessary to pay the rent of any agency
occupying space in a facility authorized to be acquired or
constructed under the State Building Construction Act of 1955 or a
facility leased by a state agency pursuant to a joint powers
agreement in accordance with Chapter 5 (commencing with Section 6500)
of Division 7 of Title 1 is hereby appropriated each fiscal year
payable from the fund in the State Treasury from which that agency
derives its appropriation for support and shall become available only
if the rental payments are due during a period that the state is
operating without funds appropriated by the Budget Act for that
fiscal year or if the amount required to pay the rental payments has
not been included in the Budget Act for that fiscal year and the
Department of Finance certifies to the Controller that sufficient
funds are available for the support of the agency for that portion of
the facility that has been provided for its use and the facility or
portion thereof is available for the use and occupancy of the agency.
This appropriation shall be inoperative as to any facility that is
transferred to the jurisdiction of the Department of General Services
pursuant to subdivision (a) of Section 15816, to any facility
transferred to a state agency pursuant to a joint powers agreement,
or to any facility the title of which has vested in the Regents of
the University of California, the Trustees of the California State
University, the Board of Governors of the California Maritime
Academy, or any community college district pursuant to subdivision
(b) of Section 15816.


15849.  Such amount as may be necessary to pay monthly the amount
required to pay rent for the buildings and facilities authorized to
be constructed on the new site of the California State Fair and
Exposition under the provisions of the State Building Construction
Act of 1955 (commencing at Section 15800) is hereby appropriated each
fiscal year, payable first from the State Fair Fund in the State
Treasury, to become available only if the Department of Finance
certifies to the State Controller that the amount required to pay
such rent has not been included in the Budget Act for such fiscal
year. If there is insufficient money in the State Fair Fund to pay
such rent, the appropriation shall be payable from all the license
fees for conducting horse racing meetings not payable into the Fairs
and Exposition Fund, or into the Wildlife Restoration Fund, pursuant
to Section 19627 of the Business and Professions Code.
   Any amount paid from such license fees shall be reimbursed from
the State Fair Fund when the Department of Finance certifies to the
State Controller that sufficient money is in the State Fair Fund to
make such reimbursement. The appropriation herein made shall become
inoperative when the buildings or facilities constructed by the State
Public Works Board on the new site have been transferred to the
jurisdiction of the California State Fair and Exposition.



15849.1.  An amount not to exceed the amount of unsold bonds which
the board has by resolution authorized to be sold for the purposes of
carrying out this part is hereby appropriated from the General Fund
to the Director of Finance, who may direct that any portion of that
amount shall be deposited into a special account in the Public
Building Construction Fund, to be used for the construction of public
buildings to be financed pursuant to this part, as authorized by the
Legislature. Any amounts made available from the General Fund under
this section to the board shall be repaid by the board to the General
Fund from the proceeds received from the sale of bonds sold for the
purpose of financing the public buildings. These amounts shall be
repaid to the General Fund with interest at the rate which the
Treasurer certifies would have been earned on those amounts if
invested in the Surplus Money Investment Fund.



15849.2.  In order to more fully secure the bonds authorized to be
issued pursuant to this part, when during any fiscal year any
appropriation is made to a state agency which has leased or otherwise
contracted with the board for a public building pursuant to this
part, the state agency shall allocate from the first lawfully
available funds so appropriated that amount necessary to pay in full
all amounts which are anticipated to become due and payable during
the fiscal year under the lease or contract.



15849.3.  Notwithstanding any provision of this part to the
contrary, the board may from time to time issue its bonds, notes, or
other obligations pursuant to an indenture which may contain terms
and conditions authorized by this part for resolutions of the board
authorizing the issuance of its bonds, notes, or other obligations.




15849.5.  The California State University, any community college
district, the California Maritime Academy, and the University of
California may be reimbursed for expenditures for preliminary plans
and working drawings for a project if all of the following conditions
are met:
   (a) The project was authorized in a budget act or other statute
before the preliminary plans and working drawings were prepared.
   (b) Funds for the reimbursement are appropriated by the
Legislature.
   (c) All other applicable procedures were followed by the
California State University, the community college district, the
California Maritime Academy, or the University of California in
expending the funds.
   The advance of funds by the California State University, a
community college district, the California Maritime Academy, or the
University of California for preliminary plans and working drawings
shall be made to promote early completion of a project authorized by
the Legislature.



15849.6.  Notwithstanding any provision of this part to the
contrary, the board may issue bonds, notes, or other obligations to
finance the acquisition or construction of a public building,
facility, or equipment as authorized by the Legislature, in the total
amount authorized by the Legislature, and any additional amount
authorized by the board to pay the cost of financing. This additional
amount may include interest during acquisition or interest prior to,
during, and for a period of six months after construction of the
public building, facility, or equipment, interest payable on any
interim loan for the public building, facility, or equipment from the
General Fund or from the Pooled Money Investment Account, a
reasonably required reserve fund, and the costs of issuance of any
interim financing and permanent financing after completion of the
construction or acquisition of the public building, facility, or
equipment.
   This section shall be applicable to, but not limited to, bonds,
notes, or obligations of the board that were authorized by
appropriations of the Legislature made prior to the effective date of
this section.



15849.6.  Notwithstanding any provision of this part to the
contrary, the board may issue bonds, notes, or other obligations to
finance the acquisition or construction of a public building,
facility, or equipment as authorized by the Legislature, in the total
amount authorized by the Legislature, and any additional amount
authorized by the board to pay the cost of financing. This additional
amount may include interest during acquisition or interest prior to,
during, and for a period of six months after construction of the
public building, facility, or equipment, interest payable on any
interim loan for the public building, facility, or equipment from the
General Fund or from the Pooled Money Investment Account, a
reasonably required reserve fund, and the costs of issuance of any
interim financing and permanent financing after completion of the
construction or acquisition of the public building, facility, or
equipment.
   This section shall be applicable to, but not limited to, bonds,
notes, or obligations of the board that were authorized by
appropriations of the Legislature made prior to the effective date of
this section.



15849.7.  Notwithstanding any other provision of law, including, but
not limited to, any specific grant of authority on or after June 30,
2001, the State Public Works Board may issue bonds, notes, or bond
anticipation notes for any and all phases of any capital outlay
project authorized to be financed pursuant to Chapter 5 (commencing
with Section 15830).