California Education Code 18024 – (a) A fund is hereby created in the State Treasury to be known …
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(a) A fund is hereby created in the State Treasury to be known as the Public Library Fund.
(b) The Controller shall transfer on January 1, 1984, from the General Fund to the Public Library Fund the amount necessary to meet the state’s obligations under this chapter for the remainder of the 1983-84 fiscal year.
Terms Used In California Education Code 18024
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Public library: means a library, or two or more libraries, operated as a single entity by one or more public jurisdictions and which serve the general public without distinction. See California Education Code 18015
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(c) The Controller shall transfer on July 1, 1984, and on July 1 of each year thereafter, from the General Fund to the Public Library Fund the amount necessary to meet the state’s obligation under this chapter for that particular fiscal year.
(Amended by Stats. 1983, Ch. 323, Sec. 9. Effective July 1, 1983.)