California Statutes
§ 8514. — 8514. (Added by Stats. 1990, Ch. 446, Sec. 8.)
California·Code SHC Streets and Highways Code - SHC·Div. 10. DIVISION 10. THE IMPROVEMENT BOND ACT OF 1915·Part 1. PART 1. GENERAL PROVISIONS
Notwithstanding any other provision of this division, income realized from the investment of money on deposit in a fund or account established pursuant to this division may be used, at the option of the legislative body, to pay all or any portion of any amount required to be rebated to the United States in order that interest on obligations issued pursuant to this division be excluded from gross income for purposes of federal income taxation.
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California § 8514. (8514. (Added by Stats. 1990, Ch. 446, Sec. 8.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1990, Ch. 446, Sec. 8.