State Codes and Statutes

Statutes > California > Gov > 8879.77-8879.78

GOVERNMENT CODE
SECTION 8879.77-8879.78



8879.77.  (a) The department, with the approval of the Director of
Finance, may make a loan or loans from the State Highway Account of
federal funds made available to it pursuant to subparagraph (B) of
paragraph (2) of subdivision (b) of Section 2423 of the Streets and
Highways Code for purposes of advancing a project, or a portion of a
project, that has been programmed, on or before February 17, 2009, to
be funded by Chapter 12.49 (commencing with Section 8879.20) and
that is ready to be obligated within 120 days of federal
apportionment. The board, as defined in subdivision (a) of Section
8879.22, may request the department to make a loan or loans. The
aggregate amount of the request shall not exceed the amount of the
unsold bonds that the committee, as defined in subdivision (b) of
Section 8879.22, has, by resolution, authorized to be sold, less any
amount loaned pursuant to Section 8879.31 or withdrawn pursuant to
Section 8879.32. Any amount loaned shall be deposited in the fund, as
defined by subdivision (c) of Section 8879.22, and shall be
transferred to the appropriate account for the project, or portion of
a project, being advanced. Contracts for projects to be advanced
with loan funds shall be awarded within 180 days of federal
apportionment. The loan or loans shall be repaid without interest to
the State Highway Account from the proceeds of bonds sold pursuant to
Chapter 12.49 (commencing with Section 8879.20). The board shall
execute any documents as required by the department to obtain and
repay the loan or loans.
   (b) Federal funds made available to the department pursuant to
subparagraph (B) of paragraph (2) of subdivision (b) of Section 2423
of the Streets and Highways Code, except for funds to be loaned to
eligible projects described in Section 8879.52, shall be allocated in
the manner provided in Section 188 of the Streets and Highways Code.
A loan may not be made pursuant to subdivision (a) if it would
necessarily result in the aggregate of those federal funds, excluding
funds to be loaned to eligible projects described in Section
8879.52, being allocated contrary to this subdivision.
   (c) Upon repayment of a loan made pursuant to subdivision (a),
those funds are hereby appropriated to the department for use on
projects in the state highway operations and protection program.




8879.78.  If a metropolitan planning organization, county
transportation commission, regional transportation planning agency,
or other local agency uses funds made available to it pursuant to
Section 2423 of the Streets and Highways Code, or pursuant to that
section and from other sources, to fund any project to which bond
funds were previously programed under this chapter with the effect of
displacing the need for those bond funds on the project, the
commission shall allocate funds for one or more qualifying projects
in the appropriate program under this chapter, in the jurisdiction of
that agency, and in the same amount of the displaced bond funds.
Nothing in this section shall limit or modify the requirements of any
program under Chapter 12.49 (commencing with Section 8879.20).


State Codes and Statutes

Statutes > California > Gov > 8879.77-8879.78

GOVERNMENT CODE
SECTION 8879.77-8879.78



8879.77.  (a) The department, with the approval of the Director of
Finance, may make a loan or loans from the State Highway Account of
federal funds made available to it pursuant to subparagraph (B) of
paragraph (2) of subdivision (b) of Section 2423 of the Streets and
Highways Code for purposes of advancing a project, or a portion of a
project, that has been programmed, on or before February 17, 2009, to
be funded by Chapter 12.49 (commencing with Section 8879.20) and
that is ready to be obligated within 120 days of federal
apportionment. The board, as defined in subdivision (a) of Section
8879.22, may request the department to make a loan or loans. The
aggregate amount of the request shall not exceed the amount of the
unsold bonds that the committee, as defined in subdivision (b) of
Section 8879.22, has, by resolution, authorized to be sold, less any
amount loaned pursuant to Section 8879.31 or withdrawn pursuant to
Section 8879.32. Any amount loaned shall be deposited in the fund, as
defined by subdivision (c) of Section 8879.22, and shall be
transferred to the appropriate account for the project, or portion of
a project, being advanced. Contracts for projects to be advanced
with loan funds shall be awarded within 180 days of federal
apportionment. The loan or loans shall be repaid without interest to
the State Highway Account from the proceeds of bonds sold pursuant to
Chapter 12.49 (commencing with Section 8879.20). The board shall
execute any documents as required by the department to obtain and
repay the loan or loans.
   (b) Federal funds made available to the department pursuant to
subparagraph (B) of paragraph (2) of subdivision (b) of Section 2423
of the Streets and Highways Code, except for funds to be loaned to
eligible projects described in Section 8879.52, shall be allocated in
the manner provided in Section 188 of the Streets and Highways Code.
A loan may not be made pursuant to subdivision (a) if it would
necessarily result in the aggregate of those federal funds, excluding
funds to be loaned to eligible projects described in Section
8879.52, being allocated contrary to this subdivision.
   (c) Upon repayment of a loan made pursuant to subdivision (a),
those funds are hereby appropriated to the department for use on
projects in the state highway operations and protection program.




8879.78.  If a metropolitan planning organization, county
transportation commission, regional transportation planning agency,
or other local agency uses funds made available to it pursuant to
Section 2423 of the Streets and Highways Code, or pursuant to that
section and from other sources, to fund any project to which bond
funds were previously programed under this chapter with the effect of
displacing the need for those bond funds on the project, the
commission shall allocate funds for one or more qualifying projects
in the appropriate program under this chapter, in the jurisdiction of
that agency, and in the same amount of the displaced bond funds.
Nothing in this section shall limit or modify the requirements of any
program under Chapter 12.49 (commencing with Section 8879.20).



State Codes and Statutes

State Codes and Statutes

Statutes > California > Gov > 8879.77-8879.78

GOVERNMENT CODE
SECTION 8879.77-8879.78



8879.77.  (a) The department, with the approval of the Director of
Finance, may make a loan or loans from the State Highway Account of
federal funds made available to it pursuant to subparagraph (B) of
paragraph (2) of subdivision (b) of Section 2423 of the Streets and
Highways Code for purposes of advancing a project, or a portion of a
project, that has been programmed, on or before February 17, 2009, to
be funded by Chapter 12.49 (commencing with Section 8879.20) and
that is ready to be obligated within 120 days of federal
apportionment. The board, as defined in subdivision (a) of Section
8879.22, may request the department to make a loan or loans. The
aggregate amount of the request shall not exceed the amount of the
unsold bonds that the committee, as defined in subdivision (b) of
Section 8879.22, has, by resolution, authorized to be sold, less any
amount loaned pursuant to Section 8879.31 or withdrawn pursuant to
Section 8879.32. Any amount loaned shall be deposited in the fund, as
defined by subdivision (c) of Section 8879.22, and shall be
transferred to the appropriate account for the project, or portion of
a project, being advanced. Contracts for projects to be advanced
with loan funds shall be awarded within 180 days of federal
apportionment. The loan or loans shall be repaid without interest to
the State Highway Account from the proceeds of bonds sold pursuant to
Chapter 12.49 (commencing with Section 8879.20). The board shall
execute any documents as required by the department to obtain and
repay the loan or loans.
   (b) Federal funds made available to the department pursuant to
subparagraph (B) of paragraph (2) of subdivision (b) of Section 2423
of the Streets and Highways Code, except for funds to be loaned to
eligible projects described in Section 8879.52, shall be allocated in
the manner provided in Section 188 of the Streets and Highways Code.
A loan may not be made pursuant to subdivision (a) if it would
necessarily result in the aggregate of those federal funds, excluding
funds to be loaned to eligible projects described in Section
8879.52, being allocated contrary to this subdivision.
   (c) Upon repayment of a loan made pursuant to subdivision (a),
those funds are hereby appropriated to the department for use on
projects in the state highway operations and protection program.




8879.78.  If a metropolitan planning organization, county
transportation commission, regional transportation planning agency,
or other local agency uses funds made available to it pursuant to
Section 2423 of the Streets and Highways Code, or pursuant to that
section and from other sources, to fund any project to which bond
funds were previously programed under this chapter with the effect of
displacing the need for those bond funds on the project, the
commission shall allocate funds for one or more qualifying projects
in the appropriate program under this chapter, in the jurisdiction of
that agency, and in the same amount of the displaced bond funds.
Nothing in this section shall limit or modify the requirements of any
program under Chapter 12.49 (commencing with Section 8879.20).