AB 826,
as amended, begin deleteSalasend delete begin insertJones-Sawyerend insert. State property: surplus.
(1) Existing law authorizes the Director of General Services to dispose of state surplus property, subject to specified conditions, including authorization by the Legislature.
This bill would authorize the director to dispose of 2 specified parcels of state property.
(2) The California Constitution provides that the proceeds from the sale of surplus state property be used to pay the principal and interest on bonds issued pursuant to the Economic Recovery Bond Act until the principal and interest on those bonds are fully paid, after which these proceeds are required to be deposited into the Special Fund for Economic Uncertainties. Existing statutory law similarly requires that the net proceeds received from any real property disposition be paid into the Deficit Recovery Bond Retirement Sinking Fund Subaccount, a continuously appropriated fund, until the bonds issued pursuant to the act are retired.
By increasing the amount transferred into a continuously appropriated fund, this bill would make an appropriation.
Vote: majority. Appropriation: yes. Fiscal committee: yes. State-mandated local program: no.
The people of the State of California do enact as follows:
The Director of General Services may sell,
2exchange, sell combined with an exchange, or lease for fair market
3value, upon those terms and conditions as the Director of General
4Services determines are in the best interests of the state, all or any
5part of the following real property pursuant to Section 11011.1 of
6the Government Code:
7(a) Parcel 1, consisting of approximately 15 acres and
8improvements, known as a portion of the California Department
9of Corrections and Rehabilitation’s Preston Youth Correctional
10Facility, located at 201 Waterman Road, in Ione, Amador County.
11(b) (1) Parcel 2, consisting of approximately 160 acres and
12improvements, known as the California Department of Corrections
13and Rehabilitation’s Estrella Correctional Facility, located at 4545
14Airport Road, in Paso Robles, San Luis Obispo County.
15(2) To the extentbegin insert thatend insert bonds issued by the State Public Works
16Board involve the property to be sold pursuant to this section, all
17issuer- and trustee-related costs associated with the review of any
18proposed sale, together with the costs related to the defeasance or
19retirement of any bonds, which may include the cost of nationally
20recognized bond counsel, shall be paid from the proceeds of any
21sale or lease authorized by this section.
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