Code Section Group

Education Code - EDC

TITLE 3. POSTSECONDARY EDUCATION [66000 - 101060]

  ( Title 3 enacted by Stats. 1976, Ch. 1010. )

DIVISION 14. MISCELLANEOUS [99000 - 101149.5]

  ( Division 14 enacted by Stats. 1976, Ch. 1010. )

PART 70. KINDERGARTEN THROUGH COMMUNITY COLLEGE PUBLIC EDUCATION FACILITIES BOND ACT OF 2016 [101110 - 101149.5]

  ( Part 70 added November 8, 2016, by initiative Proposition 51, Sec. 3. )

CHAPTER 3. California Community College Facilities [101142 - 101149.5]

  ( Chapter 3 added November 8, 2016, by initiative Proposition 51, Sec. 3. )

ARTICLE 2. California Community College Program Provisions [101143- 101143.]
  ( Article 2 added November 8, 2016, by initiative Proposition 51, Sec. 3. )

101143.
  

(a) From the proceeds of bonds issued and sold pursuant to Article 3 (commencing with Section 101144), the sum of two billion dollars ($2,000,000,000) shall be deposited in the 2016 California Community College Capital Outlay Bond Fund for the purposes of this article. When appropriated, these funds shall be available for expenditure for the purposes of this article.

(b) The purposes of this article include assisting in meeting the capital outlay financing needs of the California Community Colleges.

(c) Proceeds from the sale of bonds issued and sold for the purposes of this article may be used to fund construction on existing campuses, including the construction of buildings and the acquisition of related fixtures, construction of facilities that may be used by more than one segment of public higher education (intersegmental), the renovation and reconstruction of facilities, site acquisition, the equipping of new, renovated, or reconstructed facilities, which equipment shall have an average useful life of 10 years, and to provide funds for the payment of preconstruction costs, including, but not limited to, preliminary plans and working drawings for facilities of the California Community Colleges.

(Added November 8, 2016, by initiative Proposition 51, Sec. 3.)

EDCEducation Code - EDC2.