(a) The board may issue up to two hundred ninety-four million one hundred one thousand five hundred forty-five dollars ($294,101,545) in revenue bonds, notes, or bond anticipation notes, pursuant to Chapter 5 (commencing with Section 15830) of Part 10b of Division 3 of Title 2 of the Government Code to finance the acquisition, design, renovation, or construction, and a reasonable construction reserve, of approved local youthful offender rehabilitative facilities described in Section 1971, and any additional amount authorized under Section 15849.6 of the Government Code to pay for the cost of financing.
(b) Proceeds from the revenue bonds, notes, or bond anticipation notes may be utilized to reimburse a participating county for the costs of acquisition, design, and construction for approved projects.
(c) Notwithstanding Section 13340 of the Government Code, funds derived pursuant to this section are continuously appropriated for purposes of this article.
(d) No projects shall be commenced after June 30, 2017, but projects already commenced may be completed and financed through the issuance of bonds pursuant to this article.
(Amended by Stats. 2017, Ch. 19, Sec. 25. (AB 111) Effective June 27, 2017.)
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