§ 485.1. — 485.1. (Added by Stats. 1978, Ch. 1274.)

California § 485.1.

• Jurisdiction: California
• Code MVC: Military and Veterans Code - MVC
• Div. 2.: DIVISION 2. THE MILITARY FORCES OF THE STATE
• Part 1.: PART 1. THE STATE MILITIA
• Ch. 10.: CHAPTER 10. California National Guard Members’ Revenue Bond Act of 1978
• Art. 4.: ARTICLE 4. Appropriation, Security, Sale and Funds

Text

There is hereby created in the California National Guard Members’ Farm and Home Building Fund of 1978, a special account known as the National Guard Members’ Revenue Bond Revenue Account. All revenues shall be deposited in the National Guard Members’ Revenue Bond Revenue Account. All moneys deposited in the National Guard Members’ Revenue Bond Revenue Account shall be allocated and applied by the State Treasurer only as provided in the appropriate resolution of issuance of the department and separate and apart from all other moneys in the State Treasury. The moneys deposited in the National Guard Members’ Revenue Bond Revenue Account shall be segregated and applied as provided in the resolution of issuance. The resolution of issuance may provide for the creation of any other funds or accounts which will be deemed necessary or desirable for the payment of or further security of revenue bonds. The resolution of issuance establishing such fund or accounts may provide for the manner and method of disbursement of such funds or accounts, the amounts to be deposited therewith and withdrawn therefrom, the application of any surplus moneys in any such funds or accounts to the purchase or redemption of revenue bonds and for the investment of moneys in such funds or accounts in particular bonds or obligations which are then made eligible for such investments by the terms of such resolution.

Legislative History

Added by Stats. 1978, Ch. 1274.