§ 2648 Bond Interest Transfer Rules

Fish and Game Code·California

AI SummaryVerified

This law says that money from bond sales and interest must stay in a special fund and can only be moved to the General Fund to pay for bond interest.

Key Takeaways

•Money from bond sales and interest must stay in a special fund.
•This money can only be moved to the General Fund to pay for bond interest.
•It cannot be used for other purposes.

Example

The government sells bonds to raise money for building schools.

The money from selling those bonds and the interest it earns must stay in a special fund. It can only be used to pay the interest on those bonds, not for anything else.

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

Official Source

View on CA.gov

§ 2648 Bond Interest Transfer Rules

All money deposited in the fund which is derived from premium and accrued interest on bonds sold shall be reserved in the fund and shall be available for transfer to the General Fund as a credit to expenditures for bond interest. (Added by Stats. 1984, Ch. 6, Sec. 1. Approved in Proposition 19 at the June 5, 1984, election. Operative July 1, 1984, by Stats. 1984, Ch. 6, Sec. 3.)

Last verified: January 10, 2026

Key Terms

premium accrued interest on bonds sold General Fund bond interest

References

Official text at leginfo.legislature.ca.gov
California Legislature. Fish and Game Code. Section 2648.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References