(

a) The board may issue up to eight hundred four million seven hundred twenty-five thousand dollars ($804,725,000) in revenue bonds, notes, or bond anticipation notes, pursuant to

Chapter 5 (commencing with

Section 15830), to finance the acquisition, design, and construction, including, without limitation, renovation and equipping of the approved student housing projects described in

Section 15820.201, a reasonable construction reserve, and any additional amount authorized under

Section 15849.6 to pay for the cost of financing. (

b) Proceeds from the revenue bonds, notes, or bond anticipation notes may be used to reimburse a participating college for costs incurred before the enactment of this

chapter including the costs of acquisition, design, and construction, including, without limitation, renovation and equipping of the approved student housing projects. Those costs may include the repayment of loans obtained pursuant to

Section 15820.203 which have been applied to repay allocations to the General Fund pursuant to subparagraph (

A) of paragraph (2) of subdivision (

n) of

Section of the Education Code, as amended by

Chapter of the Statutes of 2023. (

c) Notwithstanding

Section 13340, funds derived pursuant to this

section and

Section 15820.204 are continuously appropriated for purposes of this chapter. (d)

(1) The board may augment the amount identified in subdivision (

a) pursuant to Sections 13332.11 and 13332.19.

(2) Notwithstanding paragraph (3) of subdivision (

d) of

Section 15820.202, the board may issue bonds to pay for costs of a student housing project in excess of the dollar amount identified in paragraphs (3) and (4) of subdivision (

m) of

Section of the Education Code, as amended by Chapters and of the Statutes of 2022, and subparagraph (

B) of paragraph (2) of subdivision (

n) of

Section of the Education Code, as amended by

Chapter of the Statutes of 2023, for each respective participating college if both of the following occurs: (

A) The board determines that financing of those excess costs is necessary. (

B) The financing of those costs does not cause the total amount financed under this subdivision to exceed the amount identified in subdivision (

a) as that amount may be augmented pursuant to this subdivision.