Section 3916.5 Of Chapter 1. General Provisions From California Harbors And Navigation Code >> Division 6. >> Part 4. >> Chapter 1.
3916.5
. The sum of seventy-five thousand dollars ($75,000) is
hereby appropriated out of the General Fund to be used as a revolving
fund to pay the expenses incurred by the State Treasurer in having
the bonds prepared and in advertising their sale or their prior
redemption, for expenses incurred by the committee, and for legal
services. Whenever bonds are sold at the instance of the authority
out of the first money realized from their sale, there shall be
redeposited in the revolving fund such sums as have been expended for
the above purposes with respect to such bonds, which may be used for
the same purpose and repaid in the same manner whenever additional
sales are made. Whenever bonds are sold at the instance of the
commission, out of the first money realized from their sale, there
shall be redeposited in the revolving fund such sums as have been
expended for the above purposes with respect to such bonds, which may
be used for the same purpose and repaid in the same manner whenever
additional sales are made. Whenever all the bonds authorized by this
part have been sold, the amount of the appropriation made by this
section shall revert to the unappropriated surplus in the General
Fund.