Cal. Gov. Code § 17310

Current through the 2023 Legislative Session.
Section 17310 - Appropriation from general fund to pay notes
(a) Notwithstanding Section 13340, there is hereby appropriated from the General Fund any unapplied money, as defined in subdivision (a) of Section 17220, in any amounts necessary to pay the interest on, and the principal of, any notes issued pursuant to this part, as the interest on and the principal of the notes become due and payable.
(b) When any payment on a note or any payment to the provider of a credit enhancement or liquidity facility for a note is due, that payment shall be made subject only to prior payment of the following:
(1) Payments required by law to be paid before the note or provider payment.
(2) Payments that by the terms of the note or credit enhancement or liquidity agreement are permitted to be paid before the note or provider payment.

Ca. Gov. Code § 17310

Amended by Stats 2009 ch 9 (AB X3-13),s 11, eff. 2/20/2009.