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HomeHealth and Safety CodeDiv. 45Pt. 2Ch. 2Art. 5§ 78325 Bond Fund Withdrawal Authority

§ 78325 Bond Fund Withdrawal Authority

Health and Safety Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 78325 Bond Fund Withdrawal Authority

Key Takeaways

  • •The state can take money from the General Fund if they haven't sold enough bonds yet.
  • •This money is used for special projects and must be paid back once the bonds are sold.
  • •The Director of Finance decides how much money can be taken, but only up to the amount of unsold bonds.

Example

Imagine the state needs $100 million to build new schools but hasn't sold all the bonds yet.

The state can take up to $100 million from the General Fund to start the project. Once they sell the bonds later, they must pay back the $100 million to the General Fund.

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

Official Source
View on CA.gov

§ 78325 Bond Fund Withdrawal Authority

(a) For the purpose of carrying out this article, the Director of Finance may, by executive order, authorize the withdrawal from the General Fund of amounts not to exceed the amount of the unsold bonds that the committee has, by resolution, authorized to be sold for the purpose of carrying out this article. (b) Any amounts withdrawn shall be deposited in the fund and shall be disbursed by the board in accordance with this article. (c) Any moneys made available pursuant to this section shall be returned to the General Fund from moneys received from the sale of bonds sold for the purpose of carrying out this article. (Added by Stats. 2022, Ch. 257, Sec. 2. (AB 2293) Effective January 1, 2023. Operative January 1, 2024, pursuant to Sec. 4 of Stats. 2022, Ch. 257.)

Last verified: January 24, 2026

Key Terms

resolutiondirectorgeneral fundoperative januaryaccordance

Related Statutes

  • § 52532 First-Time Home Buyer Funding
  • § 54024 General Fund Bond Withdrawals
  • § 101645 Board Member Meeting Pay
  • § 1280.20 Director Referral Licensee Discipline
  • § 1295 License Suspension Proceedings

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Health and Safety Code. Section 78325.
View Official Source