Section 63055 Of Chapter 3. California Infrastructure And Economic Development Bank Fund From California Government Code >> Division 1. >> Title 6.7. >> Chapter 3.
63055
. (a) Moneys in the infrastructure bank fund received from the
proceeds of bonds issued pursuant to this division may not be
transferred to any other fund except as necessary to pay the expenses
of operating the program authorized by this division, nor shall the
bank utilize any moneys under the direction and control of the
California Housing Finance Agency, including, but not limited to,
moneys in the California Housing Loan Insurance Fund and the Housing
Finance Fund, other than moneys in the infrastructure bank fund to
satisfy liabilities arising from projects authorized by this
division.
(b) The infrastructure bank fund, on behalf of the bank, may
borrow or receive moneys from the bank or from any federal, state, or
local agency or private entity, in order to create reserves in the
infrastructure bank fund as provided in this division and as
authorized by resolution of the board.