Public Resources Code § 8712
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The trustee may acquire real property or any interest in real property with the objective of facilitating management of school lands for the purpose of generating revenue. The trustee may delegate authority to the trustee’s executive officer to make a nonrefundable downpayment for a potential acquisition of real property or any interest in real property.
(Amended by Stats. 2021, Ch. 715, Sec. 7. (AB 1390) Effective January 1, 2022.)