§ 67340. — 67340. (Added by Stats. 1988, Ch. 44, Sec. 1.)

California § 67340.

• Jurisdiction: California
• Code EDC: Education Code - EDC
• Div.: 5.
• Title 3.: DIVISION 5. GENERAL PROVISIONS
• Part 40.: PART 40. DONAHOE HIGHER EDUCATION ACT
• Ch. 14.3.: CHAPTER 14.3. Higher Education Facilities Bond Act of 1988
• Art. 3.: ARTICLE 3. Fiscal Provisions

Text

For the purposes of carrying out this chapter, the Director of Finance may, by executive order, authorize the withdrawal from the General Fund of an amount or amounts not to exceed the amount of the unsold bonds which have been authorized to be sold for the purpose of carrying out this chapter. Any amounts withdrawn shall be deposited in the fund. Any money made available under this section shall be returned to the General Fund, together with interest at the rate paid on moneys in the Pooled Money Investment Account, from money received from the sale of bonds for the purpose of carrying out this chapter.

Legislative History

Added by Stats. 1988, Ch. 44, Sec. 1. Approved in Proposition 78 at the November 8, 1988, election.