§ 53176 Bond Fund Withdrawal Authority

Health and Safety Code·California

AI SummaryVerified

Key Takeaways

•The state can take money from the General Fund if they haven't sold enough bonds yet.
•They can only take as much money as the unsold bonds are worth.
•The money taken must be paid back with interest when the bonds are finally sold.

Example

Imagine the state needs $100 million to build new parks but hasn't sold all the bonds yet. They can take up to $100 million from the General Fund to start the work.

The state borrows money from its main bank account (General Fund) to start the project. Later, when they sell the bonds, they pay back the borrowed money plus a little extra (interest).

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

Official Source

View on CA.gov

§ 53176 Bond Fund Withdrawal Authority

For the purposes of carrying out this part, the Director of Finance may authorize the withdrawal from the General Fund of an amount or amounts not to exceed the amount of the unsold bonds which have been authorized to be sold for the purpose of carrying out this part. Any amounts withdrawn shall be deposited in the fund. Any money made available under this section shall be returned to the General Fund, plus interest that the amounts would have earned in the Pooled Money Investment Account, from money received from the sale of bonds for the purpose of carrying out this part. (Added by Stats. 1988, Ch. 48, Sec. 1. Approved in Proposition 84 at the November 8, 1988, election.)

Last verified: January 24, 2026

Key Terms

director general fund pooled money investment proposition election

References

Official text at leginfo.legislature.ca.gov
California Legislature. Health and Safety Code. Section 53176.

§ 53176 Bond Fund Withdrawal Authority

Health and Safety Code·California

AI SummaryVerified

§ 53176 Bond Fund Withdrawal Authority

Key Takeaways

•The state can take money from the General Fund if they haven't sold enough bonds yet.
•They can only take as much money as the unsold bonds are worth.
•The money taken must be paid back with interest when the bonds are finally sold.

Example

Imagine the state needs $100 million to build new parks but hasn't sold all the bonds yet. They can take up to $100 million from the General Fund to start the work.

The state borrows money from its main bank account (General Fund) to start the project. Later, when they sell the bonds, they pay back the borrowed money plus a little extra (interest).

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

Official Source

View on CA.gov

§ 53176 Bond Fund Withdrawal Authority

Last verified: January 24, 2026

Key Terms

director general fund pooled money investment proposition election

References

Official text at leginfo.legislature.ca.gov
California Legislature. Health and Safety Code. Section 53176.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References