§ 66960 Bond Repayment Fund Transfers

Government Code·California

AI SummaryVerified

Key Takeaways

•If the state lends money to help people or groups, they have to pay it back.
•The paid-back money goes into a special fund.
•This money can be moved to the state's main money pot (General Fund).
•The moved money helps pay back what the state borrowed (bonds) plus extra costs.

Example

The state gives money to a school to build a new playground. The school has to pay the money back later.

When the school pays the money back, it goes into a special fund. The state can then take that money and use it to pay back what it borrowed to help the school, plus any extra costs.

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

Official Source

View on CA.gov

§ 66960 Bond Repayment Fund Transfers

All money deposited in the fund pursuant to any provision of law requiring repayments to the state for assistance financed by the proceeds of the bonds authorized by this title shall be available for transfer to the General Fund. When transferred to the General Fund such money shall be applied as a reimbursement to the General Fund on account of principal and interest on the bonds which has been paid from the General Fund. (Added by Stats. 1982, Ch. 305, Sec. 1. Approved in Proposition 4 at the November 2, 1982, election. Operative January 1, 1983, by Sec. 2 of Ch. 305.)

Last verified: January 22, 2026

Key Terms

general fund assistance operative january reimbursement proposition election

References

Official text at leginfo.legislature.ca.gov
California Legislature. Government Code. Section 66960.

§ 66960 Bond Repayment Fund Transfers

Government Code·California

AI SummaryVerified

§ 66960 Bond Repayment Fund Transfers

Key Takeaways

•If the state lends money to help people or groups, they have to pay it back.
•The paid-back money goes into a special fund.
•This money can be moved to the state's main money pot (General Fund).
•The moved money helps pay back what the state borrowed (bonds) plus extra costs.

Example

The state gives money to a school to build a new playground. The school has to pay the money back later.

When the school pays the money back, it goes into a special fund. The state can then take that money and use it to pay back what it borrowed to help the school, plus any extra costs.

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

Official Source

View on CA.gov

§ 66960 Bond Repayment Fund Transfers

Last verified: January 22, 2026

Key Terms

general fund assistance operative january reimbursement proposition election

References

Official text at leginfo.legislature.ca.gov
California Legislature. Government Code. Section 66960.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References