Statute · California Streets and Highways Code
Cal. Sts. & High. Code § 188.51 — Funds for Highway and Public Mass Transit Guideway Purposes
Cal. Sts. & High. Code § 188.51
- Type
- Statute
- Source
- California Streets and Highways Code
- Jurisdiction
- California
- Date
- 2002-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) If the department utilizes its authority under Chapter 4 (commencing with Section 14550) of Part 5.3 of Division 3 of the Government Code to issue federal highway grant anticipation notes (GARVEE Bonds) from the state share of federal obligation authority to fund the projects identified in…
Citator
Cal. Sts. & High. Code § 188.51 — 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) If the department utilizes its authority under Chapter 4 (commencing with Section 14550) of Part 5.3 of Division 3 of the Government Code to issue federal highway grant anticipation notes (GARVEE Bonds) from the state share of federal obligation authority to fund the projects identified in subdivision (a) of Section 188.5, Section 14553.6 of the Government Code shall not apply.
(b) State expenditures for the purposes of subdivision (a) shall not exceed 5 percent of the annual amount of federal obligation authority received by the state for a period determined by the department.