California · Military and Veterans Code - MVC

MVC §491.2: For the purposes of meeting the necessary expenses of initial organization and operation until such date as the department derives revenues or proceeds from bonds or notes as provided under this chapt

What this law says, in plain English

This statute addresses funding for a department's initial setup and operating costs until the department receives revenue or bond proceeds.

Read the full statutory text

For the purposes of meeting the necessary expenses of initial organization and operation until such date as the department derives revenues or proceeds from bonds or notes as provided under this chapter, the department may, with the approval of the Department of Finance, borrow money as needed from the General Fund in the State Treasury. Such borrowed moneys shall be repaid with interest from the first proceeds from the sale of bonds or notes as provided under this chapter.

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