Cal. Ed. Code § 90082

Current through the 2023 Legislative Session.
Section 90082 - Money in State College Dormitory Building Maintenance and Equipment Reserve Fund used for loans to General Fund

Notwithstanding any other law, the Controller may use the moneys in the State College Dormitory Building Maintenance and Equipment Reserve Fund for loans to the General Fund as provided in Sections 16310 and 16381 of the Government Code. However, interest shall be paid on all moneys loaned to the General Fund from the State College Dormitory Building Maintenance and Equipment Reserve Fund. Interest payable shall be computed at a rate determined by the Pooled Money Investment Board to be the current earning rate of the fund from which loaned. This section does not authorize any transfer that will interfere with the carrying out of the object for which the State College Dormitory Building Maintenance and Equipment Reserve Fund was created.

Ca. Educ. Code § 90082

Added by Stats 2009 ch 9 (AB X3-13),s 3, eff. 2/20/2009.