Upon request of the board stating that the purposes for which the bonds were issued and sold has been effected, the committee shall certify this fact to the State Controller, and thereupon the unencumbered balance of cash remaining from the proceeds of the sale of the bonds in the fund shall, on order of the State Controller, be transferred therefrom to the General Fund.
(Added by Stats. 1953, Ch. 1698.)
Terms Used In California Government Code 16726
- Board: means the state board, department, or agency authorized by that act to request the committee to cause bonds to be issued for the purpose of creating a fund that is to be expended by the board for the purposes specified in that act. See California Government Code 16722
- Committee: means the finance committee or other body created by that act and authorized to cause bonds to be issued by the adoption of a resolution or resolutions. See California Government Code 16722
- Fund: means the fund created by that act, and into which the proceeds from the sale of the bonds are paid. See California Government Code 16722
- State: means the State of California, unless applied to the different parts of the United States. See California Education Code 19427