California Penal Code 2810 – Commencing July 1, 2005, the general manager, with the approval of …
Commencing July 1, 2005, the general manager, with the approval of the Department of Finance, may authorize the borrowing of money by the authority for purposes of any of the following:
(a) Operating the business affairs of the authority.
Terms Used In California Penal Code 2810
- authority: means the Prison Industry Authority. See California Penal Code 2800
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(b) Purchasing new equipment, materials and supplies.
(c) Constructing new facilities, or repairing, remodeling, or demolishing old facilities.
Funds may be borrowed from private sources, upon those terms that the Department of Finance deems appropriate, including but not limited to, the use of equipment under the jurisdiction of the authority, and of the future income of an enterprise under the jurisdiction of the authority, as collateral to secure any loan.
(Amended by Stats. 2005, Ch. 10, Sec. 24. Effective May 10, 2005. Operative July 1, 2005, by Sec. 99 of Ch. 10.)