The secretary may request the Pooled Money Investment Board to make a loan from the Pooled Money Investment Account, including other authorized forms of interim financing that include, but are not limited to, commercial paper, in accordance with Section 16312 of the Government Code, for purposes of carrying out this chapter. The amount of the request shall not exceed the amount of the unsold bonds that the committee, by resolution, has authorized to be sold for the purpose of carrying out this chapter. The secretary shall execute any documents required by the Pooled Money Investment Board to obtain and repay the loan. Any amounts loaned shall be deposited in the fund to be allocated by the board in accordance with this chapter.
(Added by Stats. 1999, Ch. 638, Sec. 16. Approved in Proposition 12 at the March 7, 2000, election. Note: Pursuant to Stats. 1999, Ch. 638, Sec. 17, this section was submitted in Prop. 12 in place of the section proposed by Stats. 1999, Ch. 461.)
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