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HomeEducation CodeDiv. 14Pt. 68Ch. 2Art. 2§ 100436 Interim Financing For Bonds

§ 100436 Interim Financing For Bonds

Education Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 100436 Interim Financing For Bonds

This law lets the State Allocation Board ask for a short‑term loan from the Pooled Money Investment Board, but only up to the amount of bonds that haven’t been sold yet for the same project.

Key Takeaways

  • •The board can request a loan for the project.
  • •The loan can’t be bigger than the amount of unsold bonds approved for the project.
  • •The board must sign any papers the investment board needs, and the loan money goes into the project fund.

Example

A city wants to start building a new park, but the bonds that will pay for it haven’t been sold yet.

The State Allocation Board can borrow money from the Pooled Money Investment Board, as long as the loan isn’t bigger than the unsold bonds. The borrowed cash goes into the park fund, and the board signs the needed paperwork to get and later pay back the loan.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 100436 Interim Financing For Bonds

The State Allocation Board may request the Pooled Money Investment Board to make a loan from the Pooled Money Investment Account or any other approved form of interim financing, in accordance with Section 16312 of the Government Code, for the purpose of carrying out this chapter. The amount of the request shall not exceed the amount of the unsold bonds that the committee, by resolution, has authorized to be sold for the purpose of carrying out this chapter. The board shall execute any documents required by the Pooled Money Investment Board to obtain and repay the loan. Any amounts loaned shall be deposited in the fund to be allocated by the board in accordance with this chapter. (Added by Stats. 1998, Ch. 407, Sec. 16. Approved in Proposition 1A at the November 3, 1998, election.)

Last verified: January 10, 2026

Key Terms

State Allocation BoardPooled Money Investment BoardPooled Money Investment AccountSection 16312 of the Government Codeunsold bondsinterim financing

Related Statutes

  • § 100636 Interim Financing For Bonds
  • § 100836 Interim Financing For Bonds
  • § 101026 Interim Financing For Bonds
  • § 101136 Interim Financing For Bonds
  • § 101426 School Building Loan Requests

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 100436.
View Official Source