(

a) The bonds authorized by this

chapter shall be prepared, executed, issued, sold, paid, and redeemed as provided in the State General Obligation Bond Law (Chapter 4 (commencing with

Section 16720) of Part of Division of Title of the Government Code), and all of the provisions of that law, except

Section of the Government Code, apply to the bonds and to this

chapter and are hereby incorporated in this

chapter as though set forth in full in this chapter. (

b) For the purposes of the State General Obligation Bond Law, each state agency administering an appropriation of the Higher Education Capital Outlay Bond Fund is designated as the “board” for projects funded pursuant to this chapter. (

c) The proceeds of the bonds issued and sold pursuant to this

chapter shall be available for the purpose of funding aid to the University of California, the college named in

Section 92200, the California State University, and the California Community Colleges, for the construction on existing or new campuses, and their respective off-campus centers, including the construction of buildings and the acquisition of related fixtures, renovation, and reconstruction of facilities, for the acquisition of sites upon which these facilities are to be constructed, for the equipping of new, renovated, or reconstructed facilities, which equipment shall have a useful life of at least years, to provide funds for payment of preconstruction costs, including, but not limited to, preliminary plans and working drawings.