California § 1179.100. 1179.100. (Added November 6, 2018, by initiative Proposition 4, Sec. 1.)

California Statutes

§ 1179.100. — 1179.100. (Added November 6, 2018, by initiative Proposition 4, Sec. 1.)

California·Code HSC Health and Safety Code - HSC·Div. 1. DIVISION 1. ADMINISTRATION OF PUBLIC HEALTH·Part 6.3. PART 6.3. CHILDREN’S HOSPITAL BOND ACT OF 2018·Ch. 3. CHAPTER 3. Fiscal Provisions

Notwithstanding any other provision of this part, or of the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code), if the Treasurer sells bonds pursuant to this part that include a bond counsel opinion to the effect that the interest on the bonds is excluded from gross income for federal tax purposes, subject to designated conditions, the Treasurer may maintain separate accounts for the investment of bond proceeds and for the investment of earnings on those proceeds. The Treasurer may use or direct the use of those proceeds or earnings to pay any rebate, penalty, or other payment required under federal law or take any other action with respect to the investment and use of those bond proceeds required or desir

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

Notwithstanding any other provision of this part, or of the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code), if the Treasurer sells bonds pursuant to this part that include a bond counsel opinion to the effect that the interest on the bonds is excluded from gross income for federal tax purposes, subject to designated conditions, the Treasurer may maintain separate accounts for the investment of bond proceeds and for the investment of earnings on those proceeds. The Treasurer may use or direct the use of those proceeds or earnings to pay any rebate, penalty, or other payment required under federal law or take any other action with respect to the investment and use of those bond proceeds required or desirable under federal law 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 § 1179.100. (1179.100. (Added November 6, 2018, by initiative Proposition 4, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.