State Codes and Statutes

Statutes > California > Gov > 17296-17296.5

GOVERNMENT CODE
SECTION 17296-17296.5



17296.  It is the intent of the Legislature, in enacting this
article, to provide assurances to the persons who invest in the state'
s registered reimbursement warrants that funds will be set aside in
the Warrant Payment Fund and will be used to retire the registered
reimbursement warrants at maturity.



17296.1.  (a) The Warrant Payment Fund is hereby created in the
State Treasury for the purpose of setting aside unapplied moneys in
the General Fund for the payment and redemption of registered
reimbursement warrants issued during the 1994-95 fiscal year and
maturing in the 1995-96 fiscal year. The Warrant Payment Fund shall
consist of all funds deposited therein pursuant to this article.
Except as provided in Section 17296.4, the moneys in the Warrant
Payment Fund shall only be available for transfer to the General Fund
to redeem registered reimbursement warrants.
   (b) Notwithstanding Section 13340, the Warrant Payment Fund is
continuously appropriated, without regard to fiscal years, for the
purposes specified in this article.



17296.2.  The Controller shall transfer from unapplied moneys in the
General Fund to the Warrant Payment Fund the total amount of four
billion dollars ($4,000,000,000) plus interest necessary to redeem
the warrants identified in subdivision (a) of Section 17296.1, to be
transferred in four equal installments on or before each of the
following dates: September 30, 1995, November 30, 1995, January 31,
1996, and April 24, 1996.



17296.3.  The Controller shall transfer funds from the Warrant
Payment Fund to the General Fund to pay and redeem registered
reimbursement warrants at maturity.



17296.4.  Moneys in the Warrant Payment Fund shall be available for
transfer to the General Fund pursuant to Section 16310.



17296.5.  Unless registered reimbursement warrants remain
outstanding, this article shall be in effect only until July 1, 1996,
and as of that date is repealed. If registered reimbursement
warrants remain outstanding July 1, 1996, this article shall continue
in effect until the warrants are paid. Any balance in the Warrant
Payment Fund as of the date of repeal of this article shall be
transferred to the General Fund.


State Codes and Statutes

Statutes > California > Gov > 17296-17296.5

GOVERNMENT CODE
SECTION 17296-17296.5



17296.  It is the intent of the Legislature, in enacting this
article, to provide assurances to the persons who invest in the state'
s registered reimbursement warrants that funds will be set aside in
the Warrant Payment Fund and will be used to retire the registered
reimbursement warrants at maturity.



17296.1.  (a) The Warrant Payment Fund is hereby created in the
State Treasury for the purpose of setting aside unapplied moneys in
the General Fund for the payment and redemption of registered
reimbursement warrants issued during the 1994-95 fiscal year and
maturing in the 1995-96 fiscal year. The Warrant Payment Fund shall
consist of all funds deposited therein pursuant to this article.
Except as provided in Section 17296.4, the moneys in the Warrant
Payment Fund shall only be available for transfer to the General Fund
to redeem registered reimbursement warrants.
   (b) Notwithstanding Section 13340, the Warrant Payment Fund is
continuously appropriated, without regard to fiscal years, for the
purposes specified in this article.



17296.2.  The Controller shall transfer from unapplied moneys in the
General Fund to the Warrant Payment Fund the total amount of four
billion dollars ($4,000,000,000) plus interest necessary to redeem
the warrants identified in subdivision (a) of Section 17296.1, to be
transferred in four equal installments on or before each of the
following dates: September 30, 1995, November 30, 1995, January 31,
1996, and April 24, 1996.



17296.3.  The Controller shall transfer funds from the Warrant
Payment Fund to the General Fund to pay and redeem registered
reimbursement warrants at maturity.



17296.4.  Moneys in the Warrant Payment Fund shall be available for
transfer to the General Fund pursuant to Section 16310.



17296.5.  Unless registered reimbursement warrants remain
outstanding, this article shall be in effect only until July 1, 1996,
and as of that date is repealed. If registered reimbursement
warrants remain outstanding July 1, 1996, this article shall continue
in effect until the warrants are paid. Any balance in the Warrant
Payment Fund as of the date of repeal of this article shall be
transferred to the General Fund.



State Codes and Statutes

State Codes and Statutes

Statutes > California > Gov > 17296-17296.5

GOVERNMENT CODE
SECTION 17296-17296.5



17296.  It is the intent of the Legislature, in enacting this
article, to provide assurances to the persons who invest in the state'
s registered reimbursement warrants that funds will be set aside in
the Warrant Payment Fund and will be used to retire the registered
reimbursement warrants at maturity.



17296.1.  (a) The Warrant Payment Fund is hereby created in the
State Treasury for the purpose of setting aside unapplied moneys in
the General Fund for the payment and redemption of registered
reimbursement warrants issued during the 1994-95 fiscal year and
maturing in the 1995-96 fiscal year. The Warrant Payment Fund shall
consist of all funds deposited therein pursuant to this article.
Except as provided in Section 17296.4, the moneys in the Warrant
Payment Fund shall only be available for transfer to the General Fund
to redeem registered reimbursement warrants.
   (b) Notwithstanding Section 13340, the Warrant Payment Fund is
continuously appropriated, without regard to fiscal years, for the
purposes specified in this article.



17296.2.  The Controller shall transfer from unapplied moneys in the
General Fund to the Warrant Payment Fund the total amount of four
billion dollars ($4,000,000,000) plus interest necessary to redeem
the warrants identified in subdivision (a) of Section 17296.1, to be
transferred in four equal installments on or before each of the
following dates: September 30, 1995, November 30, 1995, January 31,
1996, and April 24, 1996.



17296.3.  The Controller shall transfer funds from the Warrant
Payment Fund to the General Fund to pay and redeem registered
reimbursement warrants at maturity.



17296.4.  Moneys in the Warrant Payment Fund shall be available for
transfer to the General Fund pursuant to Section 16310.



17296.5.  Unless registered reimbursement warrants remain
outstanding, this article shall be in effect only until July 1, 1996,
and as of that date is repealed. If registered reimbursement
warrants remain outstanding July 1, 1996, this article shall continue
in effect until the warrants are paid. Any balance in the Warrant
Payment Fund as of the date of repeal of this article shall be
transferred to the General Fund.