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CALIFORNIA CODES
CALIFORNIA EDUCATION CODETitle 1 - GENERAL EDUCATION CODE PROVISIONSDivision 1 - GENERAL EDUCATION CODE PROVISIONSPart 10 - SCHOOL BONDSChapter 6 - STATE SCHOOL BUILDING AID LAW OF
Article 9 - SCHOOL HOUSING AID FOR REHABILITATION AND REPLACEMENT OF STRUCTURALLY INADEQUATE SCHOOL FACILITIES
Section 16334 - Interest on apportionments

Cal. Ed. Code § 16334

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Current through the 2024 Legislative Session.
Section 16334 - Interest on apportionments

The interest on apportionments made under this article shall be established by the board, with the approval of the Director of General Services, as follows:

(1) The interest rate applicable to apportionments made pursuant to Article 1 (commencing with Section 16000) and determined in accordance with Section 16065 shall be established as of June 30 of each year.
(2) The applicable interest rate on June 30 shall apply to apportionments made under this article in the ensuing fiscal year, July 1 through June 30.
(3) Interest on the apportionment shall be compounded annually through the 30th day of June of each year.

Ca. Educ. Code § 16334

Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.