Cal. Ed. Code § 41474

Current through the 2024 Legislative Session.

Section 41474 - Request to have interest rate changed on remaining outstanding emergency apportionments

Notwithstanding Sections 41471 and 41472, the school district may submit a request to the Director of Finance to have the interest rate on the remaining outstanding balance of its emergency apportionments changed to reflect the investment rate of the Pooled Money Investment Account as reported by the State Controller's office for the immediately preceding fiscal year. Upon receipt of the request, the Director of Finance shall change the interest rate pursuant to this section. A change in the interest rate does not change other terms of the repayment schedule.

Ca. Educ. Code § 41474

Amended by Stats 2004 ch 52 (AB 2756), s 11, eff. 6/21/2004.

Added by Stats 2003 ch 573 (AB 1266), s 7, eff. 1/1/2004.