Today's Law As Amended

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AB-1164 Surplus state real property: disposal.(2019-2020)



SECTION 1.
 (a) The Director of General Services may sell, exchange, sell combined with an exchange, or lease for fair market value, upon those terms and conditions as the Director of General Services determines are in the best interests of the state, pursuant to Section 11011.1 of the Government Code, all or any part of the property known as the San Diego State Office Building, consisting of approximately 2.7 acres, including two city blocks bound by Front Street, Ash Street, State Street, and A Street, located at 1350 Front Street, San Diego, San Diego County.
(b) To the extent that bonds issued by the State Public Works Board that involve the property to be sold pursuant to this section are outstanding at the time the purchase, lease, or exchange agreement for a property identified in this section is ready for execution, the board shall approve the purchase, lease, or exchange agreement, and all costs associated with the defeasance of the bonds shall be paid from the proceeds from the transaction.