California · Government Code

GOV §15820.932: (a) The board may issue up to four hundred twenty million dollars ($420,000,000) in revenue bonds, notes, or bond anticipation notes, pursuant to Chapter 5 (commencing with Section 15830) to finance t

Civil

What this law says, in plain English

A board may issue up to $420 million in revenue bonds to finance the acquisition, design, and construction of adult criminal justice facilities, with proceeds available to reimburse counties for these costs.

Read the full statutory text
(a) The board may issue up to four hundred twenty million dollars ($420,000,000) in revenue bonds, notes, or bond anticipation notes, pursuant to Chapter 5 (commencing with Section 15830) to finance the acquisition, design, and construction, including, without limitation, renovation, and a reasonable construction reserve, of approved adult local criminal justice facilities described in Section 15820.930, and any additional amount authorized under Section 15849.6 to pay for the cost of financing. (b) Proceeds from the revenue bonds, notes, or bond anticipation notes may be used to reimburse a participating county for the costs of acquisition, design, and construction, including, without limitation, renovation, for approved adult local criminal justice facilities. (c) Notwithstanding Section 13340, funds derived pursuant to this section and Section 15820.931 are continuously appropriated for purposes of this chapter.

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