California Government Code 15820.50 – The Legislature finds and declares that California’s public colleges …
The Legislature finds and declares that California’s public colleges and universities, which are recognized as being among the world’s finest, require assistance to meet the demands of increased enrollment. To this end, the Legislature finds that it is in the public interest to construct, renovate, and equip instructional facilities and related instructional laboratory and support office space that may be leased or leased-purchased by the University of California, the California State University, the California Maritime Academy, and the California community college districts.
It is the intent of the Legislature that the cost of any project authorized by statute pursuant to this chapter shall be considered an expenditure of state funds in the fiscal year in which payments are made to the State Public Works Board under the terms of the lease or lease-purchase agreement.
Terms Used In California Government Code 15820.50
- Board: means the State Public Works Board. See California Government Code 15802
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- 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
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18
- Statute: A law passed by a legislature.
(Added by Stats. 1986, Ch. 1224, Sec. 5.)