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California Law (Last Updated: March 4, 2014) |
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Government Code - GOV |
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Title 2. GOVERNMENT OF THE STATE OF CALIFORNIA |
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Division 3. EXECUTIVE DEPARTMENT |
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Part 10b. STATE BUILDING CONSTRUCTION |
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Chapter 7. The Financial Information System for California |
Section 15849.28.
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(a) Notwithstanding Section 15849.1 and any other provision of law permitting withdrawal of funds from the General Fund to pay for the cost of the FISCal system, the Department of Finance may authorize loans from the General Fund that may, as determined by the Director of Finance, be made without interest. The board may also request a loan from the Pooled Money Investment Account to pay for the cost of the FISCal system.
(b) The Controller shall deposit the loan proceeds in the FISCal Internal Services Fund, created pursuant to Section 15849.35, and those moneys shall be expended for the costs of the FISCal system or to repay other loans obtained for the cost of the FISCal system or for both purposes. The loan amounts shall not exceed the amount of any unsold bonds, notes, or certificates that the board has, by resolution, authorized to be sold for the purposes of this chapter.