California Government Code 15820.86 – (a) The board and the regents may lease any properties of the …
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(a) The board and the regents may lease any properties of the regents to facilitate the financing authorized by this chapter that is mutually agreed by the board and the regents. Accordingly, the property leased between the board and the regents for the purposes of these financings need not be the same property that is acquired, renovated, or improved with the proceeds of the board’s bonds.
(b) It is the intent of the Legislature that, to the greatest degree possible, the rental paid by the regents to the board in connection with these financings shall utilize teaching hospital revenues of the regents, but only to the extent lawfully available to pay that rental.
Terms Used In California Government Code 15820.86
- Board: means the State Public Works Board. See California Government Code 15802
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes all property, real, personal or mixed, tangible or intangible, or any interest therein necessary or desirable for carrying out the purposes of this part. See California Government Code 15802
(Added by Stats. 2000, Ch. 71, Sec. 30. Effective July 5, 2000.)