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Section 17221.5 Of Article 2. Registration From California Government Code >> Division 4. >> Title 2. >> Part 4. >> Chapter 2. >> Article 2.
17221.5
. (a) The Controller, with the approval of the Pooled Money
Investment Board, may fix a maturity date for registered warrants. To
the extent legally permissible, the Controller shall pick a date
that does not interfere with the payment of bonds, revenue
anticipation notes, reimbursement warrants, and refunding warrants.
(b) Notwithstanding subdivision (a), a registered warrant may be redeemed at the option of the committee prior to the maturity date of the warrant at a redemption price not to exceed the principal amount of the warrant plus the amount of interest, calculated as of the date when the committee calls for the redemption. The Treasurer shall pay the redemption price for the registered warrant from any unapplied money in the General Fund that is available on that redemption date.
(b) Notwithstanding subdivision (a), a registered warrant may be redeemed at the option of the committee prior to the maturity date of the warrant at a redemption price not to exceed the principal amount of the warrant plus the amount of interest, calculated as of the date when the committee calls for the redemption. The Treasurer shall pay the redemption price for the registered warrant from any unapplied money in the General Fund that is available on that redemption date.
