Section 99060 Of Chapter 3. Economic Recovery Fund From California Government Code >> Title 18. >> Chapter 3.
99060
. (a) The proceeds of bonds issued and sold pursuant to this
title shall be deposited in the Economic Recovery Fund, which is
hereby established in the State Treasury.
(b) Moneys in the fund shall be invested in the Surplus Money
Investment Fund, and any income from that investment shall be
credited to the fund.
(c) Except for amounts necessary to pay costs of issuance,
administrative costs, and any other costs payable in connection with
the bonds, and to retire or refund bonds issued and sold pursuant to
this title or bonds issued and sold under Title 17 (commencing with
Section 99000), the remaining balance of the fund, as determined by
the committee, shall be transferred to the General Fund to fund the
purposes set forth in this title.