California · Water Code

WAT §78619: All principal and interest payments received pursuant to loan contracts entered into pursuant to this article shall be deposited in the State Revolving Fund Loan Subaccount for additional loans under

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What this law says, in plain English

Principal and interest payments from loans made under this article must be deposited into the State Revolving Fund Loan Subaccount for making additional loans.

Read the full statutory text

All principal and interest payments received pursuant to loan contracts entered into pursuant to this article shall be deposited in the State Revolving Fund Loan Subaccount for additional loans under subdivision (a) of Section 78613, and shall not be transferred to the General Fund.

Verify at the official source: California legislative text

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