California Education Code 67347.7 – (a) The board may request the Pooled Money Investment Board for …
(a) The board may request the Pooled Money Investment Board for a loan from the Pooled Money Investment Account, in accordance with § 16312 of the Government Code, and may execute those documents required by the Pooled Money Investment Board to obtain and repay the loan. The loan shall be deposited in the fund for the purpose of carrying out the provisions of this chapter. The amount of the loan shall not exceed the amount of the unsold bonds that the committee, by resolution, has authorized to be sold for the purposes of this chapter.
(b) For the purposes of requesting Pooled Money Investment Board loans in accordance with this section, “board” means: the President of the University of California, the Dean of the college named in Section 92200, the Chancellor of the California State University, the President of the California Maritime Academy, and the Chancellor of the California Community Colleges, each acting independently on their own behalf.
Terms Used In California Education Code 67347.7
- Committee: means the Higher Education Facilities Finance Committee created pursuant to Section 67353. See California Education Code 67345.2
- Fund: means the June 1990 Higher Education Capital Outlay Bond Fund created pursuant to Section 67346. See California Education Code 67345.2
(Amended by Stats. 2022, Ch. 478, Sec. 8. (AB 1936) Effective January 1, 2023.)