ARTICLE 6. Warrant Payment Fund

Article 6 added by Stats. 1994, Ch. 136, Sec. 2.

§§ 17296–17296.5 · 6 sections

• § 17296 It is the intent of the Legislature, in enacting this article, to provide assurances to the persons who invest in the state’s registered reimbursement warrants…
• § 17296.1 (a) The Warrant Payment Fund is hereby created in the State Treasury for the purpose of setting aside unapplied moneys in the General Fund for the payment and…
• § 17296.2 The Controller shall transfer from unapplied moneys in the General Fund to the Warrant Payment Fund the total amount of four billion dollars ($4,000,000,000)…
• § 17296.3 The Controller shall transfer funds from the Warrant Payment Fund to the General Fund to pay and redeem registered reimbursement warrants at maturity.
• § 17296.4 Moneys in the Warrant Payment Fund shall be available for transfer to the General Fund pursuant to Section 16310.
• § 17296.5 Unless registered reimbursement warrants remain outstanding, this article shall be in effect only until July 1, 1996, and as of that date is repealed. If…