§ 63053
75 words·~1 min read·
/ca/government-code/63053A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The bank may administer and distribute among its accounts and subaccounts, at its discretion, the proceeds from any general obligation bonds issued in accordance with the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2).
(b)The assets of the infrastructure bank fund shall be available for the payment of the salaries and other expenses charged against it in accordance with this division.