California Government Code

§ 16737

GOV § 16737 Effective Jan 1, 2010Div. 4 · Title 2 · Part 3 · Ch. 4 · Art. 2

Statute text

(a)When the committee deems it in the best interests of the state, it may authorize the Treasurer, upon those terms and conditions that may be fixed by the committee or determined by the Treasurer, to issue notes, on a negotiated or a competitive-bid basis, maturing within a period not to exceed five years, in anticipation of the sale of bonds duly authorized at the time the notes are issued. The proceeds from the sale of those notes shall be deposited in the related fund and used only for the purposes for which may be used the proceeds of the sale of bonds in anticipation whereof the notes were issued or as additionally authorized by this section.

(b)The notes authorized by this section may be sold at a price at, above, or below the principal amount thereof, at the discretion of the Treasurer.

(c)Any premium received from the sale of notes authorized by this section may be applied to pay costs of issuance of the notes or interest accruing on the notes.

…

Legislative history

Amended by Stats. 2009, Ch. 205, Sec. 6. (SB 826) Effective January 1, 2010.