California Government Code 8879.11 – The board may request the Pooled Money Investment Board to make a …
The board may request the Pooled Money Investment Board to make a loan from the Pooled Money Investment Account, in accordance with Section 16312, for purposes of this chapter. The amount of the request shall not exceed the amount of the unsold bonds which the committee has, by resolution, authorized to be sold for the purpose of this chapter, less any amount withdrawn pursuant to Section 8879.12. The board shall execute any documents as required by the Pooled Money Investment Board to obtain and repay the loan. Any amount loaned shall be deposited in the fund to be allocated by the California Transportation Commission in accordance with this chapter.
(Added by Stats. 1995, Ch. 310, Sec. 1. Approved in Proposition 192 at the March 26, 1996, election.)
Terms Used In California Government Code 8879.11
- Board: means any department receiving an allocation from the Department of Finance. See California Government Code 8879.2
- Committee: means the Seismic Retrofit Finance Committee created pursuant to Section 8879. See California Government Code 8879.2
- Fund: means the Seismic Retrofit Bond Fund of 1996 created pursuant to Section 8879. See California Government Code 8879.2