California · Education Code
EDC §41366.5: (a) Moneys in the Charter School Revolving Loan Fund shall be loaned at (1) the rate paid on moneys in the Pooled Money Investment Account as of the date of disbursement of the funds or (2) a rate equ
Read the full statutory text
(a) Moneys in the Charter School Revolving Loan Fund shall be loaned at (1) the rate paid on moneys in the Pooled Money Investment Account as of the date of disbursement of the funds or (2) a rate equal to 50 percent of the interest rate paid by the state on the most recent sale of state general obligation bonds, computed according to the true interest cost method, whichever is less, except that the rate shall not be set at a rate lower than 3 percent. (b) A charter school shall pay the interest on any loan from the fund in regular installments withdrawn from the annual apportionment the charter school receives. (c) All interest payments shall be paid into the Charter School Security Fund established pursuant to Section 41367.
Verify at the official source: California legislative text
Facing this? Know exactly what happens next.
MOFRD turns this code section into your situation: the deadlines that apply to you, the forms your county uses, and the resolution paths people in your position actually take. Free for 3 days — no card required.
This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.