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HomeEducation CodeDiv. 14Pt. 68.2Ch. 2Art. 2§ 100836 Interim Financing For Bonds

§ 100836 Interim Financing For Bonds

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

§ 100836 Interim Financing For Bonds

This law lets the State Allocation Board borrow money from the Pooled Money Investment Board to pay for projects, but only up to the amount of bonds they still need to sell.

Key Takeaways

  • •The board can ask for a loan from the Pooled Money Investment Board.
  • •The loan amount can’t be bigger than the unsold bonds the board has approved for the project.
  • •The board must sign any needed papers, repay the loan, and put the loan money into its own fund.

Example

The board wants to start building a new school but hasn't sold all the bonds they planned for the project yet.

They can ask the Pooled Money Investment Board for a short‑term loan, use that cash to pay for the school work, and then pay the loan back when the remaining bonds are sold. The loan money goes straight into the fund the board controls.

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

Official Source
View on CA.gov

§ 100836 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. 2002, Ch. 33, Sec. 31. Approved in Proposition 55 at the March 2, 2004, election.)

Last verified: January 10, 2026

Key Terms

State Allocation BoardPooled Money Investment BoardPooled Money Investment Accountinterim financingSection 16312 of the Government Codeunsold bondscommittee resolution

Related Statutes

  • § 101026 Interim Financing For Bonds
  • § 100436 Interim Financing For Bonds
  • § 100636 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 100836.
View Official Source