§ 1872. Unused Proceeds of Lease-Revenue Bonds.

(a) In no case shall a county receive the proceeds of lease-revenue bonds in excess of the amount of the conditional award provided by the Authority.

(b) Any proceeds of lease-revenue bonds determined to have been inappropriately or erroneously spent, including those resulting from noncompliance as well as overpayments resulting from county plan modifications or other causes, shall, upon written notification, be repaid to the state. Such repayment may be by county warrant and/or may be withheld from subsequent payments at the discretion of the Authority.

(c) Any proceeds of lease-revenue bonds not expended by a participating county pursuant to the approved proposal, project delivery and construction agreement or approved construction plan shall be redistributed to other counties and used for other eligible projects. This repayment may be made by:

(1) County warrant payable to the state within thirty (30) calendar days of the date of notification; or through a negotiated repayment and interest schedule; or a combination of (c) (1), (c) (2) and (c) (3);

(2) Deduction by the Authority of the amount to be repaid by the county from the next progress payment(s) by the state; or,

(3) Deduction by the Authority of the amount to be repaid by the county from the retention amount withheld.

HISTORY

1. New section filed 2-2-2009 as an emergency; operative 2-2-2009 (Register 2009, No. 6). A Certificate of Compliance must be transmitted to OAL by 7-13-2009 or emergency language will be repealed by operation of law on the following day.

2. Certificate of Compliance as to 2-2-2009 order transmitted to OAL 7-8-2009 and filed 8-18-2009 (Register 2009, No. 34).

Note

Note: Authority cited: Section 6030, Penal Code; and Section 1975, Welfare and Institutions Code. Reference: Section 1975, Welfare and Institutions Code.