State Codes and Statutes

State Codes and Statutes

Statutes > California > Edc > 17080

EDUCATION CODE
SECTION 17080



17080.  (a) Notwithstanding any other provision of law, whenever
moneys transferred to the General Fund each year from (1) moneys
deposited in the Public School Building Loan Fund pursuant to Section
15735, and (2) moneys deposited in the State School Building Aid
Fund pursuant to Section 16080, are in excess of the amounts required
to reimburse the General Fund on account of principal and interest
due and payable for that fiscal year on all school building aid bonds
outstanding against the state, an amount equal to such excess is
appropriated from the General Fund for purposes of the Leroy F.
Greene State School Building Lease-Purchase Law of 1976 (Chapter 12
(commencing with Section 17000)) and Section 17584. The Controller
shall transfer, as directed by the State Allocation Board, such
appropriated amount to the State School Building Lease-Purchase Fund
and to the State School Deferred Maintenance Fund, which is hereby
established.
   (b) In addition to the amount transferred pursuant to subdivision
(a), the Controller shall transfer annually from the General Fund to
the State School Deferred Maintenance Fund an amount equal to any
amount transferred to or deposited in the General Fund as a result of
repayment of any loan made by the board pursuant to Section
17005.15.
   (c) Notwithstanding Section 13340 of the Government Code, the
State School Deferred Maintenance Fund is continuously appropriated
for the purposes for which it is established.