Loading (50 kb)...'
FGC Sec 2640-2651 Fiscal Provisions (FISH AND WILDLIFE HABITAT ENHANCEMENT ACT OF 1984)
FISH AND GAME CODE
2640. Bonds in the total amount of eighty-five million dollars
($85,000,000), or so much thereof as is necessary, may be issued and
sold to provide a fund to be used for carrying out the purposes
expressed in this chapter and to be used to reimburse the General
Obligation Bond Expense Revolving Fund pursuant to Section 16724.5 of
the Government Code. The bonds shall, when sold, be and constitute
a valid and binding obligation of the State of California, and the
full faith and credit of the State of California is hereby pledged
for the punctual payment of both principal and interest on the bonds
as the principal and interest become due and payable.
2641. There shall be collected each year and in the same manner and
at the same time as other state revenue is collected such a sum in
addition to the ordinary revenues of the state as shall be required
to pay the principal and interest on the bonds maturing each year,
and it is hereby made the duty of all officers charged by law with
any duty in regard to the collection of the revenue to do and perform
each and every act which shall be necessary to collect that
2642. There is hereby appropriated from the General Fund in the
State Treasury for the purpose of this chapter, such an amount as
will equal the following:
(a) Such sum annually as will be necessary to pay the principal
and interest on bonds issued and sold pursuant to the provisions of
this chapter, as principal and interest become due and payable.
(b) Such sum as is necessary to carry out the provisions of
Section 2644, which sum is appropriated without regard to fiscal
2643. The proceeds of bonds issued and sold pursuant to this
chapter shall be deposited in the Fish and Wildlife Habitat
Enhancement Fund, which is hereby created. The money in the fund may
be expended only for the purposes specified in this chapter and only
pursuant to appropriation by the Legislature in the manner
prescribed in this chapter.
2644. For the purposes of carrying out the provisions of this
article, the Director of Finance may, pursuant to appropriate
authority in each annual Budget Act, authorize the withdrawal from
the General Fund of an amount or amounts not to exceed the amount of
the unsold bonds which have been authorized to be sold for the
purpose of carrying out this chapter. Any amounts withdrawn shall be
deposited in the fund. Any moneys made available under this section
shall be returned to the General Fund from moneys received from the
sale of bonds for the purpose of carrying out the provisions of this
chapter. The withdrawals from the General Fund shall be returned to
the General Fund with interest at the rate which would otherwise have
been earned by those sums in the Pooled Money Investment Fund.
2644.5. Notwithstanding any other provision of this bond act, or of
the State General Obligation Bond Law (Chapter 4 (commencing with
Section 16720) of Part 3 of Division 4 of Title 2 of the Government
Code), if the Treasurer sells bonds pursuant to this bond act that
include a bond counsel opinion to the effect that the interest on the
bonds is excluded from gross income for federal tax purposes under
designated conditions, the Treasurer may maintain separate accounts
for the bond proceeds invested and the investment earnings on those
proceeds, and may use or direct the use of those proceeds or earnings
to pay any rebate, penalty, or other payment required under federal
law, or take any other action with respect to the investment and use
of those bond proceeds, as may be required or desirable under federal
law in order to maintain the tax-exempt status of those bonds and to
obtain any other advantage under federal law on behalf of the funds
of this state.
2645. All proposed appropriations for the program shall be included
in a section in the Budget Bill for the 1984-85 fiscal year and each
succeeding fiscal year for consideration by the Legislature and
shall bear the caption "Fish and Wildlife Habitat Enhancement
Program." The section shall contain separate items for each project,
each class of projects, or each element of the program for which an
appropriation is made.
All appropriations shall be subject to all limitations enacted in
the Budget Act and to all fiscal procedures prescribed by law with
respect to the expenditure of state funds unless expressly exempted
from such laws by a statute enacted by the Legislature. The section
in the Budget Act shall contain proposed appropriations only for the
program elements and classes of projects contemplated by this
chapter, and no funds derived from the bonds authorized by this
chapter may be expended pursuant to an appropriation not contained in
that section of the Budget Act.
2646. The bonds authorized by this chapter shall be prepared,
executed, issued, sold, paid, and redeemed as provided in the State
General Obligation Bond Law (Chapter 4 (commencing with Section
16720) of Part 3, Division 4, Title 2 of the Government Code), and
all of the provisions of that law are applicable to the bonds and to
this chapter and are hereby incorporated in this chapter as though
set forth in full herein.
2647. Solely for the purpose of authorizing the issuance and sale,
pursuant to the State General Obligation Bond Law (Chapter 4
(commencing with Section 16720) of Part 1 of Division 4 of Title 2 of
the Government Code), of the bonds authorized by this chapter, the
Wildlife Habitat Enhancement Program Finance Committee is hereby
created. The committee consists of the Controller, the Director of
Finance, and the Treasurer. For purposes of this chapter, this
committee is "the committee" as that term is used in the State
General Obligation Bond Law, and the Treasurer shall serve as
chairman of the committee.
2648. All money deposited in the fund which is derived from premium
and accrued interest on bonds sold shall be reserved in the fund and
shall be available for transfer to the General Fund as a credit to
expenditures for bond interest.
2649. Commencing with the Budget Bill for the 1995-96 fiscal year,
the balance remaining in the fund may be appropriated by the
Legislature for expenditure, without regard to the maximum amounts
allocated to each element of the program, for any or all elements of
the program specified in Section 2620, or any class or classes of
projects within those elements that the Legislature deems to be of
the highest priority.
2650. The Legislature hereby finds and declares that, inasmuch as
the proceeds from the sale of bonds authorized by this chapter are
not "proceeds of taxes" as that term is used in Article XIIIB of the
California Constitution, the disbursement of these proceeds is not
subject to the limitations imposed by that article.
2651. If any provision of this chapter or the application thereof
to any person or circumstances is held invalid, such invalidity shall
not affect other provisions or applications of the chapter which can
be given effect without the invalid provision or application, and to
this end, the provisions of this chapter are severable.