All moneys deposited in the fund that are derived from premium and accrued interest on bonds sold pursuant to this division shall be reserved in the fund and shall be available for transfer to the General Fund as a credit to expenditures for bond interest, except that amounts derived from premium may be reserved and used to pay the cost of bond issuance prior to any transfer to the General Fund.
Cal. Water Code § 79795
Fiscal Provisions
Known as the Water Quality, Supply, and Infrastructure Improvement Act
The act spans §§ 79700–79798 (82 sections).
Added by Stats. 2014, Ch. 188, Sec. 8
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.