AB 826, as amended, Jones-Sawyer. 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 8 specified parcels of state property.begin insert The bill would require the proceeds from one parcel to be used to pay off specified federal equity financing.end insert
(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:
(a) 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(1) 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(2) 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(3) Parcel 3, consisting of approximately 0.90 acres and
16improvements, known as the Employment Development
17Department’s Vallejo Office Building, located at 1440 Marin
18Street, in Vallejo, Solano County.begin insert Proceeds received from the
19disposition of Parcel 3 shall be used to pay off any indebtedness
20secured by the property and attributable to any federal equity
21financing, as required under applicable state and federal law.end insert
22(b) To the extent that bonds issued by the State Public Works
23Board involve the property to be sold pursuant to this section, all
24issuer- and trustee-related costs associated with the review of any
25proposed sale, together with the costs related to the defeasance or
26retirement of any bonds, which may include the cost of nationally
27recognized bond counsel, shall be paid from the proceeds of any
28sale or lease authorized by this section.
(a) The Director of General Services may sell, for fair
2market value, upon those terms and conditions as the Director of
3General Services determines are in the best interests of the state,
4all or a portion of the following properties located in
the City of
5Sacramento, County of Sacramento, and leased by the department
6to the Capitol Area Development Authority pursuant to Section
711011.1 of the Government Code:
8(1) Parcel 1, consisting of approximately 0.027 acres and
9improvements, located at 1627 10th Street, in Sacramento,
10Sacramento County Assessor Parcel Number 006-0330-006.
11(2) Parcel 2, consisting of approximately 0.027 acres and
12improvements, located at 1607 10th Street, in Sacramento,
13Sacramento County Assessor Parcel Number 006-0330-007.
14(3) Parcel 3, consisting of approximately 0.030 acres and
15improvements, located at 1036 P Street, in Sacramento, Sacramento
16County Assessor Parcel Number 006-0330-011.
17(4) Parcel 4, consisting of approximately 0.025 acres and
18improvements, located at 1603 10th Street, in Sacramento,
19Sacramento County Assessor Parcel Number 006-0330-014.
20(5) Parcel 5, consisting of approximately 0.039 acres and
21improvements, located at 1601 10th Street, in Sacramento,
22Sacramento County Assessor Parcel Number 006-0330-015.
23(b) To the extent that bonds issued by the State Public Works
24Board involve the property to be sold pursuant to this section, all
25issuer- and trustee-related costs associated with the review of any
26proposed sale, together with the costs related to the defeasance or
27retirement of any bonds, which may include the cost of nationally
28recognized bond counsel, shall be paid from the proceeds of any
29sale or lease authorized by this
section.
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