Statute · California Streets and Highways Code
Cal. Sts. & High. Code § 183.3 — Funds for Highway and Public Mass Transit Guideway Purposes
Cal. Sts. & High. Code § 183.3
- Type
- Statute
- Source
- California Streets and Highways Code
- Jurisdiction
- California
- Date
- 2002-09-09
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) Upon the order of the Director of Finance, the Controller shall transfer the sum of one hundred seventy-three million dollars ($173,000,000) from the State Highway Account in the State Transportation Fund to the General Fund. This transfer of money constitutes a loan under paragraph (2) of…
Citator
Cal. Sts. & High. Code § 183.3 — Funds for Highway and Public Mass Transit Guideway Purposes is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Upon the order of the Director of Finance, the Controller shall transfer the sum of one hundred seventy-three million dollars ($173,000,000) from the State Highway Account in the State Transportation Fund to the General Fund. This transfer of money constitutes a loan under paragraph (2) of subdivision (b) of Section 6 of Article XIX of the California Constitution.
(b) The General Fund shall pay interest to the State Highway Account on the loan authorized by subdivision (a) at the rate earned by the Surplus Money Investment Fund. The interest shall be calculated annually and the loan shall be repaid no later than June 30, 2005.