2140  AFFORDABLE STUDENT HOUSING REVOLVING FUND

Reference:  Section 90085 et seq, Article 2, Chapter 8, California Education 
Code.

The Affordable Student Housing Revolving fund was established by the 
Statutes of 1983 to provide funds to be used

"in combination with the proceeds of bonds issued pursuant to the State 
University Revenue Bond Act of 1947...to ensure that the housing projects 
constructed will be affordable to students."

Affordable Student Housing Revolving Funds received by a campus

"shall be repaid from user fees over a 40-year period, with interest at a rate not 
to exceed two-thirds of the most current investment rate of the Pooled Money 
Investment Account as of the date of disbursement of funds from the 
Affordable Student Housing Revolving Fund."

Funds will be provided from the Affordable Student Housing Revolving 
Fund exclusively for newly constructed on-campus student housing.  
Systemwide reserve loans are available, in accordance with 
SUAMĘSectionĘ2134, to fund major renovation, repair, or replacement 
projects.

Campuses requesting a loan from the Affordable Student Housing Revolving 
Fund should forward the request to the office of Auxiliary and Business 
Services in addition to submission materials required for proposed capital 
outlay projects referenced in SUAMĘSectionsĘ9200ĘetĘseq.