Statute · California Government Code
Cal. Gov't Code § 15816 — Construction and Leasing of Public Buildings
Cal. Gov't Code § 15816
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 2015-06-24
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) When any public building has been acquired or constructed by the board, and the revenues, rentals, or receipts from the operation of the public building are no longer required or pledged for the payment of principal or interest on any of the certificates or revenue bonds of the board…
Citator
Cal. Gov't Code § 15816 — Construction and Leasing of Public Buildings is in force in the current edition of the Code, and nothing recorded condemns it.
(a) When any public building has been acquired or constructed by the board, and the revenues, rentals, or receipts from the operation of the public building are no longer required or pledged for the payment of principal or interest on any of the certificates or revenue bonds of the board undertaken under this part, the public building shall be under the jurisdiction of, and operated and maintained by, the state agency that had jurisdiction of the property prior to the board’s financing of the public building.
(b) If at any time funds are available by law to retire any certificates or revenue bonds issued to defray the cost of any public building, these funds shall be applied to the redemption of certificates or revenue bonds secured by the rentals and revenues from that public building.