AB 2904, Committee on Accountability and Administrative Review. State real property: disposition.
(1) Existing law provides that the Director of General Services may acquire and dispose of surplus state real property where that property is not needed by another state agency and the Legislature has authorized disposal of the property. Existing law also specifies the manner in which the department is to dispose of surplus state real property.
This bill would authorize the director to dispose of a specified parcel of state property, known as the California Highway Patrol field office located at 3330 North Ad Art Road, in Stockton, pursuant to these provisions.
(2) Existing law authorizes the Director of General Services to sell, exchange, sell combined with an exchange, or lease for fair market value, upon those terms and conditions as the director determines are in the best interests of the state, all or any part of a parcel consisting of approximately 0.90 acres and improvements, known as the Employment Development Department’s Vallejo Office Building, located at 1440 Marin Street, in Vallejo, Solano County.
This bill would rescind that authority.
(3) The California Constitution requires 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, the final payment of which was made in the 2015-16 fiscal year, after which these proceeds are required to be deposited into the Special Fund for Economic Uncertainties, a continuously appropriated fund.
By increasing the amount transferred into the Special Fund for Economic Uncertainties, a continuously appropriated fund, this bill would make an appropriation.
Appropriation: yes.
The people of the State of California do enact as follows:
(a) The Director of General Services may sell, exchange, sell combined with an exchange, or lease for fair market value, upon those terms and conditions as the Director of General Services determines are in the best interests of the state, all or any part of Parcel 1, consisting of approximately 1.30 acres and improvements, known as the California Highway Patrol field office located at 3330 North Ad Art Road, in Stockton, San Joaquin County Parcel Assessor Parcel Number 087-100-03, pursuant to Section 11011.1 of the Government Code.
(b) To the extent that bonds issued by the State Public Works Board involve the property to be sold pursuant to this section, all issuer- and trustee-related costs associated with the review of any proposed sale, together with the costs related to the defeasance or retirement of any bonds, which may include the cost of nationally recognized bond counsel, shall be paid from the proceeds of any sale or lease authorized by this section.
Notwithstanding any other law that declared the property as surplus, the following parcel is no longer surplus to the state’s needs and the surplus property sale authorization is hereby rescinded:
A parcel consisting of approximately 0.90 acres and improvements, known as the Employment Development Department’s Vallejo Office Building, located at 1440 Marin Street, in Vallejo, Solano County, declared surplus in Assembly Bill 826, Chapter 505 of the Statutes of 2013.
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