Section 42623 Of Article 3. Temporary Transfer—county To Districts, To Finance Excess Expenditure From California Education Code >> Division 3. >> Title 2. >> Part 24. >> Chapter 9. >> Article 3.
42623
. (a) Upon the request of the county board of education on
behalf of a newly organized school district, and upon the order of
the county board of supervisors of the county or city and county, the
auditor and treasurer of the county or city and county shall make a
temporary transfer from any funds of the county or city and county
not immediately needed to pay claims against them to the general fund
of the newly organized school district for the purpose of meeting
the current expense of the school district until the school district
receives its first state apportionments or school district tax funds.
Upon the making of the transfer, the auditor shall immediately
notify the superintendent of schools of the county or the city and
county of the amount transferred.
(b) The funds transferred under this section to the general fund
of a newly organized school district shall be retransferred by the
auditor and the treasurer to the fund from which they were taken from
the first moneys accruing to the school district after it becomes
effective for all purposes pursuant to Section 35534 and before any
other obligation of the school district is paid from the money
accruing.