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HomePublic Utilities CodeDiv. 10Pt. 11.5Ch. 1§ 99604 Bond Funding Shortfall Adjustment

§ 99604 Bond Funding Shortfall Adjustment

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

§ 99604 Bond Funding Shortfall Adjustment

Key Takeaways

  • •If there isn't enough money from selling bonds to pay for all the projects listed in Chapter 3,
  • •each project will get less money, not just some projects.
  • •The money cut will be fair—every project gets the same percentage cut.

Example

Imagine a school wants to build 10 new classrooms but only has enough money for 8.

Instead of canceling 2 classrooms, the school builds all 10 but makes each one a little smaller or with fewer fancy things. Everyone gets a little less, but no one gets nothing.

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

Official Source
View on CA.gov

§ 99604 Bond Funding Shortfall Adjustment

If bonds sufficient to fund the total aggregate of the amounts specified in Chapter 3 (commencing with Section 99620) cannot be sold pursuant to Chapter 6 (commencing with Section 99690), the allocation for each project shall be reduced proportionately. (Added June 5, 1990, by initiative Proposition 116.)

Last verified: January 23, 2026

Key Terms

portif therepropositionadded juneallocation

Related Statutes

  • § 99600 Clean Air Transportation Act
  • § 99610 Clean Air Transportation Fund
  • § 99612 Grant Fund Appropriation
  • § 99625 Humboldt Rail Service Funding
  • § 99626 Mendocino Rail Service Funding

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Public Utilities Code. Section 99604.
View Official Source