Section 998.556 Of Article 5y. The Veterans Housing And Homeless Prevention Bond Act Of 2014 From California Military And Veterans Code >> Division 4. >> Chapter 6. >> Article 5y.

. Notwithstanding any other provision of this article, or of the State General Obligation Bond Law, the Treasurer may maintain separate accounts for the investment of bond proceeds and for the investment of earnings on those proceeds. The Treasurer may use or direct the use of those proceeds or earnings to pay any rebate, penalty, or other payment required under federal law or take any other action with respect to the investment and use of those bond proceeds required or desirable under federal tax law or to obtain any other advantage under federal law on behalf of the funds of this state.