Gov. Code, § 17244 · Article 3. Reimbursement and Refunding Warrants
Gov. Code, § 17244
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Notwithstanding any other provision of law, in lieu of prescribing a precise interest rate on registered reimbursement warrants, the committee may fix a maximum rate of interest for the warrants, not to exceed 12 percent per annum for either fixed or variable interest rate warrants, and prescribe that the interest rate on the warrants, not in excess of that maximum, shall be either of the following:
(1) Fixed in accordance with the best bids for the warrants if the warrants are sold at public sale.
(2) Fixed or variable on the terms and conditions the Controller shall approve at the time of sale of the warrants if the warrants are sold in negotiated sales.
(b) Different rates of interest for any reimbursement warrants may be so fixed or established by the Controller.
Notes and commentary — not statutory text
History
Amended by Stats. 2009, Ch. 23, Sec. 7. Effective July 28, 2009.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=17244.
- Text hash
- sha256 11875e917d3ae9a7e78f7e6f30866aebf8b1db9895b1a637309a6d16a7ce1485
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Cited by 2 provisions
Provisions in this library whose text cites Gov. Code, § 17244. Each shows the citation as that text prints it.
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