California § 8879.36. 8879.36. (Added by Stats. 2006, Ch. 25, Sec. 1.)

California Statutes

§ 8879.36. — 8879.36. (Added by Stats. 2006, Ch. 25, Sec. 1.)

California·Code GOV Government Code - GOV·Div. 1.·Title 2. DIVISION 1. GENERAL·Ch. 12.49. CHAPTER 12.49. The Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006·Art. 3. ARTICLE 3. Fiscal Provisions

Notwithstanding any provision of the State General Obligation Bond Law with regard to the proceeds from the sale of bonds authorized by this chapter that are subject to investment under Article 4 (commencing with Section 16470) of Chapter 3 of Part 2 of Division 4, the Treasurer may maintain a separate account for investment earnings, order the payment of those earnings to comply with any rebate requirement applicable under federal law, and may otherwise direct the use and investment of those proceeds so as to maintain the tax-exempt status of those bonds and to obtain any other advantage under federal law on behalf of the funds of this state.

Free access — add to your briefcase to read the full text and ask questions with AI

Notwithstanding any provision of the State General Obligation Bond Law with regard to the proceeds from the sale of bonds authorized by this chapter that are subject to investment under Article 4 (commencing with Section 16470) of Chapter 3 of Part 2 of Division 4, the Treasurer may maintain a separate account for investment earnings, order the payment of those earnings to comply with any rebate requirement applicable under federal law, and may otherwise direct the use and investment of those proceeds so as to maintain the tax-exempt status of those bonds and to obtain any other advantage under federal law on behalf of the funds of this state.

California § 8879.36. (8879.36. (Added by Stats. 2006, Ch. 25, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.