Article 2California Community College Program Provisions

Section § 101143

Explanation

This law section establishes that two billion dollars from bond sales will go into a special fund to help finance projects for California Community Colleges. These funds can be used for various purposes like constructing buildings and facilities, including those shared between different educational institutions. The money can also cover renovations, site acquisitions, and the necessary equipment with a 10-year lifespan for the community colleges' buildings and facilities. Additionally, it supports preconstruction expenses such as creating initial plans and working drawings. All these efforts are aimed at addressing the capital outlay needs of community colleges.

(a)CA Education Code § 101143(a) From the proceeds of bonds issued and sold pursuant to Article 3 (commencing with Section 101144), the sum of two billion dollars ($2,000,000,000) shall be deposited in the 2016 California Community College Capital Outlay Bond Fund for the purposes of this article. When appropriated, these funds shall be available for expenditure for the purposes of this article.
(b)CA Education Code § 101143(b) The purposes of this article include assisting in meeting the capital outlay financing needs of the California Community Colleges.
(c)CA Education Code § 101143(c) Proceeds from the sale of bonds issued and sold for the purposes of this article may be used to fund construction on existing campuses, including the construction of buildings and the acquisition of related fixtures, construction of facilities that may be used by more than one segment of public higher education (intersegmental), the renovation and reconstruction of facilities, site acquisition, the equipping of new, renovated, or reconstructed facilities, which equipment shall have an average useful life of 10 years, and to provide funds for the payment of preconstruction costs, including, but not limited to, preliminary plans and working drawings for facilities of the California Community Colleges.
community college funding bond proceeds capital outlay construction projects facility renovation educational infrastructure building acquisition intersegmental facilities site acquisition equipment for colleges preconstruction costs working drawings college facility planning infrastructure financing useful life of equipment
(Added November 8, 2016, by initiative Proposition 51, Sec. 3.)