(a) Notwithstanding Section 14670, the Director of General Services, with the consent of the Department of Corrections, may lease to the City of Folsom for purposes of a water reservoir a parcel of approximately one and one-half acres of unimproved real property situated in the County of Sacramento within the grounds of the California State Prison at Folsom for a period of not to exceed 50 years.

(b)  The consideration for the lease authorized by this section shall be payable solely in money and no payment in-kind shall be acceptable.

Terms Used In California Government Code 14672.51

  • City: includes "city and county" and "incorporated town" but does not include "unincorporated town" or "village. See California Government Code 20
  • County: includes city and county. See California Government Code 19
  • director: refer to the Department of General Services and the Director of General Services, respectively, unless the context otherwise requires. See California Government Code 14602
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • 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
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18

(c) The lease authorized by this section shall be for fair market value and shall not be renegotiated during its term. The lease shall be subject to periodic review every five years by the director who shall receive a report from the lessee and shall review that report to determine whether the purposes of the lease are being carried out.

(Added by Stats. 1989, Ch. 146, Sec. 1.)

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