Section 486 Of Article 4. Appropriation, Security, Sale And Funds From California Military And Veterans Code >> Division 2. >> Part 1. >> Chapter 10. >> Article 4.
486
. The State Controller is hereby authorized to make all
necessary orders to provide for the establishment of special funds or
accounts authorized by any resolution of issuance and for the
transfer of moneys from the National Guard Members' Revenue Bond
Revenue Account into such funds or accounts. Such transfer shall be
made by the State Treasurer without further action on the part of the
department. Neither the department nor the State of California nor
any officer thereof shall have or exercise any rights with respect to
the moneys in any of such funds or accounts so established save only
in trust for the direct benefit of the holders of revenue bonds.