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Section 42104 Of Part 21.1. Local Prepaid Mobile Telephony Services Collection Act From California Revenue And Taxation Code >> Division 2. >> Part 21.1.
42104
. (a) To provide adequate cashflow for expenses incurred by
the board in the administration and collection of the local charges,
the Director of Finance may approve a short-term loan in the 2015-16
fiscal year from the General Fund to the Local Charges for Prepaid
Mobile Telephony Services Fund.
(b) For the purposes of this section, a short-term loan is a transfer that is made subject to the following conditions:
(1) Any amount loaned is to be repaid in full during the same fiscal year in which the loan was made, except that the repayment may be delayed until a date not more than six months after the date of enactment of the annual Budget Act for the subsequent fiscal year.
(2) Loans shall be repaid whenever the funds are needed to meet cash expenditure needs in the loaning fund or account.
(b) For the purposes of this section, a short-term loan is a transfer that is made subject to the following conditions:
(1) Any amount loaned is to be repaid in full during the same fiscal year in which the loan was made, except that the repayment may be delayed until a date not more than six months after the date of enactment of the annual Budget Act for the subsequent fiscal year.
(2) Loans shall be repaid whenever the funds are needed to meet cash expenditure needs in the loaning fund or account.
