Mobilehome Park Purchase Fund

Cal. HSC § 50782

California Statutes

(

a) The Mobilehome Park Rehabilitation and Purchase Fund is hereby created in the State Treasury and, notwithstanding

Section of the Government Code or any other law, is continuously appropriated to the department for the purpose of providing loans pursuant to this

chapter and for related administrative costs of the department. Notwithstanding

Section 16305.7 of the Government Code, any moneys received by the department pursuant to this chapter, and any other sources, repayments, interest, or new appropriations, shall be deposited in the fund. Except as described in subdivision (b), moneys in the fund shall not be subject to transfer to any other fund pursuant to any provision of

Part 2 (commencing with

Section 16300) of Division of Title of the Government Code, except the Surplus Money Investment Fund. The department may require the transfer of moneys in the fund to the Surplus Money Investment Fund for investment pursuant to

Article 4 (commencing with

Section 16470) of

Chapter of Part of Division of Title of the Government Code. Notwithstanding

Section 16305.7 of the Government Code, all interest, dividends, and pecuniary gains from the investments shall accrue to the fund. (

b) Notwithstanding any other law, the Controller may use the moneys in the fund for loans to the General Fund as provided in Sections and of the Government Code. However, interest shall be paid on all moneys lent to the General Fund from the fund. Interest payable shall be computed at a rate determined by the Pooled Money Investment Board to be the current earning rate of the fund from which lent. This subdivision does not authorize any transfer that will interfere with the carrying out of the object for which the fund was created.

Document details

CollectionCalifornia Statutes
CitationCal. HSC § 50782
Date2022-06-30
Typestatute
Languageen
SourceCA_STAT
IdentifierHSC50782.20227026

Mobilehome Park Purchase Fund

Cal. HSC § 50782

California Statutes

Mobilehome Park Purchase Fund

Cal. HSC § 50782

California Statutes

(

a) The Mobilehome Park Rehabilitation and Purchase Fund is hereby created in the State Treasury and, notwithstanding

Section of the Government Code or any other law, is continuously appropriated to the department for the purpose of providing loans pursuant to this

chapter and for related administrative costs of the department. Notwithstanding

Section 16305.7 of the Government Code, any moneys received by the department pursuant to this chapter, and any other sources, repayments, interest, or new appropriations, shall be deposited in the fund. Except as described in subdivision (b), moneys in the fund shall not be subject to transfer to any other fund pursuant to any provision of

Part 2 (commencing with

Section 16300) of Division of Title of the Government Code, except the Surplus Money Investment Fund. The department may require the transfer of moneys in the fund to the Surplus Money Investment Fund for investment pursuant to

Article 4 (commencing with

Section 16470) of

Chapter of Part of Division of Title of the Government Code. Notwithstanding

Section 16305.7 of the Government Code, all interest, dividends, and pecuniary gains from the investments shall accrue to the fund. (

b) Notwithstanding any other law, the Controller may use the moneys in the fund for loans to the General Fund as provided in Sections and of the Government Code. However, interest shall be paid on all moneys lent to the General Fund from the fund. Interest payable shall be computed at a rate determined by the Pooled Money Investment Board to be the current earning rate of the fund from which lent. This subdivision does not authorize any transfer that will interfere with the carrying out of the object for which the fund was created.

Document details

CollectionCalifornia Statutes
CitationCal. HSC § 50782
Date2022-06-30
Typestatute
Languageen
SourceCA_STAT
IdentifierHSC50782.20227026