Section 15820.50

The Legislature finds and declares that Californias public colleges and universities, which are recognized as being among the worlds 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.

Location: https://www.weblaws.org/california/codes/ca_gov%E2%80%99t_code_section_15820.50.

Original source: https://­leginfo.­legislature.­ca.­gov/­faces/­codes_displaySection.­xhtml?lawCode=GOV&sectionNum=15820.­50.­ External link icon (last accessed December 5, 2016).