17456.
(a) Notwithstanding Sections 17455 and 17462.3, the sale by the governing board of a school district of any real property belonging to the school district or the lease by that governing board, for a term not exceeding 99 years, of any real property, together with any personal property located thereon, belonging to the school district and the use of the proceeds of that sale or lease, shall not be subject to any other provision of this chapter, to Article 5 (commencing with Section 17485), or to Article 8 (commencing with Section 54220) of Chapter 5 of Part 1 of Division 2 of Title 5 of the Government Code, if all of the following conditions are met:(a)
(1) The property is sold or leased to another local governmental agency, or to a nonprofit corporation that is organized for the purpose of assisting one or more local governmental agencies in obtaining financing.
(b)(1) In
(2) (A) In the case of the sale of school district property
pursuant to this section, the school district, as part of that same sale transaction, simultaneously repurchases the same property that is the subject of the transaction.
(2)
(B) In the case of the lease of school district property pursuant to this section, the school district, as part of that same lease transaction, simultaneously leases back, for a term that is not substantially less than the term of that lease, the same property that is the subject of the transaction.
(c)
(3) The financing proceeds obtained by the school district pursuant to the transaction described in this section are expended for either or both of the following purposes:
(1)
(A) Capital outlay purposes, including the acquisition of real property for intended use as a schoolsite and the construction, reconstruction, and renovation of school facilities.
(2)
(B) For the purposes set forth in subparagraphs (A) and (B). clauses (i) and (ii). This paragraph
subparagraph only applies if the financing proceeds to be used for purposes set forth below are obtained from the lease of real property that will be used to construct new affordable rental housing facilities for school district employees within the meaning of subdivision (d): (c):
(A)
(i) One-time capital outlay purposes. Proceeds to be used under this subparagraph
clause shall be placed in a restricted portion of the school district’s general fund.
(B)
(ii) Maintenance of school district property. Proceeds to be used under this subparagraph clause shall be placed in a restricted portion of the school district’s general fund for routine repairs or to cover deferred maintenance.
(d)
(b) For purposes of this section, the construction, reconstruction, or renovation of rental housing facilities, including
affordable rental housing facilities facilities, for school district employees constitutes a permissible capital outlay expenditure of the financing proceeds obtained by the school district.
(c) For purposes of this section, “affordable rental housing facility” means a housing development with a majority of its rents restricted to levels that are affordable to employees of the school district meeting the definition of “persons and families of low or moderate income” in Section 50093 of the Health and Safety Code.