California Streets and Highways Code

§ 2701.18

SHC § 2701.18Div. 3 · Ch. 17 · Art. 3

Statute text

For the purpose of carrying out this chapter, the Director of Finance may authorize the withdrawal from the General Fund of an amount or amounts not to exceed the amount of unsold bonds which have been authorized by the committee to be sold for the purpose of carrying out this chapter, less any amount borrowed pursuant to Section 2701.17. Any amount withdrawn shall be deposited in the fund. 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 the sale of bonds for the purpose of carrying out this chapter.

Legislative history

Added by Stats. 1989, Ch. 108, Sec. 2. Approved in Proposition 108 at the June 5, 1990, election.