Section 15863 Of Part 11. Property Acquisition Law From California Government Code >> Division 3. >> Title 2. >> Part 11.
15863
. (a) The net proceeds of any sale made pursuant to Section
15862 shall be deposited in the Deficit Recovery Bond Retirement
Sinking Fund Subaccount established pursuant to subdivision (f) of
Section 20 of Article XVI of the California Constitution, until the
time that the bonds issued pursuant to the Economic Recovery Bond Act
(Title 18 (commencing with Section 99050)), approved by the voters
at the March 2, 2004, statewide primary election, are retired. At
that time, the net proceeds, as defined in subdivision (g) of Section
11011, received pursuant to this section shall be deposited in the
Special Fund for Economic Uncertainties.
(b) All rents received by the Department of General Services
pursuant to Section 15862 shall be deposited in the Property
Acquisition Law Money Account and shall be available for expenditure
by the Department of General Services upon appropriation.