California Education Code

§ 101148

EDC § 101148Div. 14 · Title 3 · Part 70 · Ch. 3 · Art. 3

Statute text

All money deposited in the 2016 California Community College Capital Outlay Bond Fund that is derived from premium and accrued interest on bonds sold shall be reserved in the fund and shall be available for transfer to the General Fund as a credit to expenditures for bond interest, except that amounts derived from premium may be reserved and used to pay the cost of the bond issuance prior to any transfer to the General Fund.

Legislative history

Added November 8, 2016, by initiative Proposition 51, Sec. 3.