(a) The committee may charge fees to the lead underwriter, the bond purchaser, or the bond issuer to cover the committee’s costs in carrying out the duties and responsibilities set out in this chapter. Any fees received shall be deposited in the California Debt Limit Allocation Committee Fund, which is hereby created. All money in the fund shall be available, when appropriated, for expenses of the committee and the Treasurer.

(b) Until the time that fees are received by the committee and appropriated pursuant to this chapter for the expenses of the committee, the committee may borrow any money as may be required for the purpose of meeting necessary expenses of initial organization and operation of the committee.

Terms Used In California Government Code 8869.90

  • Committee: means the California Debt Limit Allocation Committee established pursuant to Section 8869. See California Government Code 8869.82
  • 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.
  • Fund: means the California Debt Limit Allocation Committee Fund created pursuant to Section 8869. See California Government Code 8869.82
  • Issuer: means any local agency or state agency authorized by the Constitution or laws of the state to issue private activity bonds. See California Government Code 8869.82

(c) Any moneys received by the committee from fees or deposits beginning in fiscal year 1987-88, shall also be deposited into the fund.

(Amended by Stats. 1988, Ch. 77, Sec. 1. Effective April 14, 1988.)

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