California Government Code

§ 8879.32

GOV § 8879.32Div. 1 · Title 2 · Ch. 12.49 · Art. 3

Statute text

For the purpose of carrying out this chapter, the Director of Finance may, by executive order, authorize the withdrawal from the General Fund of any amount or amounts not to exceed the amount of the unsold bonds which the committee has, by resolution, authorized to be sold for the purpose of carrying out this chapter. Any amounts withdrawn shall be deposited in the Highway Safety, Traffic Reduction, Air Quality, and Port Security Fund of 2006. Any money made available under this section shall be returned to the General Fund, plus the interest that the amounts would have earned in the Pooled Money Investment Account, from money received from the sale of bonds which would otherwise be deposited in that fund.

Legislative history

Added by Stats. 2006, Ch. 25, Sec. 1. Approved in Proposition 1B at the November 7, 2006, election.