Section 89760 Of Article 4. Expenditures And Control From California Education Code >> Division 8. >> Title 3. >> Part 55. >> Chapter 6. >> Article 4.
89760
. (a) The trustees may transfer money from one special fund to
another special fund or to the general fund in order to meet the
commitments of the California State University if the transferred
moneys are returned to the special fund of origin in time to fulfill
the purposes of the special fund. Interest shall be paid on all money
transferred to another special fund or to the general fund at a rate
determined by the trustees to be the current earning rate of the
fund from which the money was transferred.
(b) "Special fund," as used in this section, means enterprise and
trust funds of the California State University and includes any fund
subject to the State University Revenue Bond Act of 1947 (Article 2
(commencing with Section 90010) of Chapter 8 of Part 55).
(c) This section does not authorize any transfer or loan of money
to or from any special fund or the General Fund if the transfer or
loan would impair a contractual obligation of the trustees,
including, but not necessarily limited to, contractual obligations
incurred by the trustees pursuant to the State University Revenue
Bond Act of 1947.