§ 138.12
91 words·~1 min read·
/ca/water-code/138-12A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Except as otherwise provided in a general obligation bond act, the maximum amount that may be allocated for administrative expenses shall not exceed 5 percent of the total amount of funds that the department is required to administer and that are derived from a general obligation bond act that is approved on or after January 1, 2007.
(b)The maximum amount that may be allocated for administrative expenses shall not exceed 5 percent of the total amount of funds that result from the sale of revenue bonds by the department.