California Government Code 15820.16 – (a) The State Public Works Board may finance the acquisition of …
(a) The State Public Works Board may finance the acquisition of land, buildings, related infrastructure, and equipment and the construction, renovation, and equipping of research facilities and related infrastructure on a site or sites owned by, or subject to a lease or option to purchase held by, the University of California, including buildings or facilities to be leased-purchased by the United States Government.
(b) The board shall lease-purchase to the Regents of the University of California any public building or facility acquired, constructed, renovated, or equipped pursuant to this article. The terms and the amount of the lease-purchase shall be determined by mutual agreement of the parties. The agreement shall provide that the public building or facility, or portion thereof, that is acquired, constructed, renovated, or equipped pursuant to this article, shall be utilized for research. The board shall contract with the lessee for all activities required to acquire, plan, construct, equip, and renovate these facilities.
Terms Used In California Government Code 15820.16
- Board: means the State Public Works Board. See California Government Code 15802
- Construction: includes the extension, enlargement, repair, renovation, restoration, improvement, furnishing, and equipping of any public building. See California Government Code 15802
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Public building: includes any structure, building, facility, or work that a state agency has jurisdiction of, or is authorized to design or construct, including, but not limited to, infrastructure, parking lots, landscaping, and other ancillary facilities, including furnishings and equipment, incidental to the use of any building, and also includes the site thereof, and any easements or rights of way appurtenant thereto or necessary for its full use. See California Government Code 15802
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18
(Amended by Stats. 1990, Ch. 209, Sec. 2. Effective July 11, 1990.)