California Education Code

§ 41474

EDC § 41474 Effective Jun 21, 2004Div. 3 · Title 2 · Part 24 · Ch. 3.1 · Art. 1

Statute text

Notwithstanding Sections 41471 and 41472, the school district may submit a request to the Director of Finance to have the interest rate on the remaining outstanding balance of its emergency apportionments changed to reflect the investment rate of the Pooled Money Investment Account as reported by the State Controller’s office for the immediately preceding fiscal year. Upon receipt of the request, the Director of Finance shall change the interest rate pursuant to this section. A change in the interest rate does not change other terms of the repayment schedule.

Legislative history

Amended by Stats. 2004, Ch. 52, Sec. 11. Effective June 21, 2004.