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HomeGovernment CodeDiv. 4Pt. 4Ch. 2Art. 1§ 17211 Warrant Payment Priority Rules

§ 17211 Warrant Payment Priority Rules

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

§ 17211 Warrant Payment Priority Rules

Key Takeaways

  • •Special promises to pay money (called warrants) that the state makes to back up other promises must be treated the same way as the original promises.
  • •If the state uses money from the General Fund to pay these special promises, they get paid in the same order as the original promises.
  • •The amounts of these special promises are decided by the person or company helping the state with the money.

Example

Imagine the state borrows money to build a school and promises to pay it back. To make sure they can pay it back, they get help from a bank. The bank says, 'I'll help you, but if you can't pay, I want the same promise from you.'

The state has to treat the bank's promise the same as the original promise to pay for the school. If there's money left in the state's big money pot (General Fund), the bank gets paid at the same time as the school loan, not later.

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

Official Source
View on CA.gov

§ 17211 Warrant Payment Priority Rules

Registered warrants described in subdivisions (b) and (c) of Section 17212 issued in connection with any credit enhancement or liquidity agreement (including in the form of a letter of credit, standby purchase agreement, liquidity facility, or other similar arrangement) entered into by the state to secure or support any reimbursement warrants or refunding warrants issued pursuant to this chapter shall be based upon the same claims, and shall have the same priority as to payment from unapplied money in the General Fund, as the reimbursement warrants or refunding warrants paid with funds disbursed under or in connection with the credit enhancement or liquidity agreement. These warrants shall be issued and registered in the amounts requested by the provider of the credit enhancement or liquidity agreement. (Amended by Stats. 2009, Ch. 23, Sec. 2. Effective July 28, 2009.)

Last verified: January 22, 2026

Key Terms

registered warrantscredit enhancement or liquidity agreementreimbursement warrantsrefunding warrantsGeneral Fund

Related Statutes

  • § 17200 Reimbursement And Refunding Warrants
  • § 17213 Controller'S Warrant Sales Authority
  • § 13080 Highway Patrol Building Funding
  • § 16346 Fund Transfer On Abolition
  • § 16351 Special Fund Transfers

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 17211.
View Official Source