SECTIONS 488-488.1 - California Statutes

MILITARY AND VETERANS CODE

SECTION 488-488.1

488. The department, subject to the approval of the National Guard
Members' Finance Committee, may borrow money in anticipation of the
sale of revenue bonds, and for that purpose may provide for the
issuance and sale of negotiable bond anticipation notes. Except as
otherwise provided in this article, such notes and the resolution
providing for their issuance may contain any provision, condition, or
limitation which a revenue bond or any resolution of issuance may
contain.

488.1. The interest on bond anticipation notes shall be payable
from the same funds from which the interest on revenue bonds is
payable. The principal of such notes shall be payable from the
proceeds of sale of revenue bonds, provided that the department shall
not be precluded from paying such principal from any other moneys
lawfully available therefor.