ACT 2819.

Authorizing transfer to the general fund of money in other funds of the state treasury. [Stats. 1871-72, p. 475.]

This act provided that when the general fund was exhausted, moneys in other funds not needed in such funds could be transferred to it.

ACT 2820.

Authorizing the governor to order the transfer to the general fund of any money that may be in other funds of the state treasury, and the return thereof to such funds. [Stats. 1899, p. 156.]

Superseded by Political Code, § 444.

ACT 2821.

An act requiring the payment into the state treasury of all moneys belonging to the state, received by state institutions, commissions, and officers, and directing the disposition of the proceeds.

[Approved March 17, 1899. Stats. 1899, p. 110.]

Amended 1905, p. 382; 1906 (Ex. Sess.), p. 43.

§1. Moneys belonging to the state to be paid into the treasury. Credited to certain funds. Exceptions.

§ 2. Accounting for funds and payment into state treasury. $3. Conflicting acts repealed.

§ 4. Takes effect when.

§ 1. Moneys belonging to the state to be paid into the treasury. Credited to certain funds. Exceptions. All moneys belonging to the state received from any source whatever by any officer, commission or commissioners, board of trustees, board of managers, or board of directors shall be accounted for at the close of each month to the state controller, in such form as the controller may prescribe, and at the same time, on the order of the controller, be paid into the state treasury, provided, in the case of any state hospital, asylum, prison, school or harbor, supported by or under control of the state said money shall be credited to a fund to be known as the contingent fund of the particular institution from which such money is received, and may be expended under the same laws and provisions that govern the expenditure of money appropriated for the support of such institutions, and provided, that in every case where the law directs the board of trustees, managers or directors or officer to refund any money upon the death or discharge of any inmate of said hospital, asylum, prison, school or other institution, or to provide a discharged inmate with any sum of money or with wearing apparel, such amount of money as necessary shall be paid by the board of trustees, managers or directors or officer, upon demand; and in the statement to the controller herein provided for, these amounts shall be itemized and the aggregate deducted from the amount to be paid into the state treasury; provided, further, that all money collected by boards of harbor commissioners shall be paid into the harbor improvement fund of the respective harbor where collected, except so much thereof as may be necessary to pay the expense of urgent repairs, not to exceed in the aggregate ten thousand dollars per month, which sum, if so much be required, may be used in repairing the wharves, piers, landings, thoroughfares, sheds, and other structures,

and the streets bounding on the water front under the jurisdiction of such board of harbor commissioners, without advertising the proposals therefor. [Amendment of June 14, 1906. Stats. 1906 (extra session), p. 43.]

This section was also amended March 20, 1905.

Stats. 1905, p. 382.

§ 2. Accounting for funds and payment into state treasury. Immediately upon the passage of this act, any moneys belonging to the state now in the hands of the boards of trustees, managers, or directors of the institutions mentioned herein, or of any treasurer or secretary thereof, shall be accounted for to the controller and paid into the state treasury, to be credited and disposed of in the manner hereinbefore indicated.

§ 3. Conflicting acts repealed. All acts and parts of acts in conflict with this act are hereby repealed.

§ 4. Takes effect when. This act shall take effect immediately. Compare § 15 of the amendment of 1905, p. 724, of the act of 1889, p. 404, regulating and governing state prisons.

ACT 2822.

Authorizing controller and treasurer to transfer certain moneys in certain other funds to the general fund. [Stats. 1893, p. 6.]

This act authorized the transfer of moneys in the election reward fund, the leprosy fund and the interest and sinking fund, Levee District Number Five, into the general fund. It also abolished the leprosy fund and the interest and sinking fund, Levee District Number Five.

АСТ 2823.

An act authorizing the controller and treasurer to transfer to the general fund all moneys now in the state drainage construction fund, and also, from time to time, to transfer to the general fund all moneys that may hereafter be paid into the state drainage construction fund. [Approved March 31, 1891. Stats. 1891, p. 237.]

The purpose of this act sufficiently appears from its title.

See Act 2196, ante.

ACT 2824.

To authorize the controller and treasurer to transfer moneys from the construction fund of Drainage District No. 1 to the general fund. [Stats. 1891, p. 279.]

ACT 2825.

An act authorizing the investment and reinvestment and disposition of any moneys in any sinking fund of any county, city and county, or incorporated city or town. [Approved March 3, 1909. Stats. 1909,

p. 139.]

Repealed 1911, p. 582.

See Act 2826.

ACT 2826.

An act authorizing the investment and reinvestment, and disposition, of any moneys in any sinking fund of any county, city and county, or incorporated city or town, and repealing an act entitled "An act authorizing the investment and reinvestment and disposition of any moneys in any sinking fund of any county, city and county, or incorporated city or town," approved March 3, 1909.

§ 1.

[Approved April 3, 1911. Stats. 1911, p. 582.]

See next act.

Money in sinking fund may be invested in bonds.

§ 2. Functions and duties authorized performed by legislative body. Acts repealed.

§ 3.

§ 1. Money in sinking fund may be invested in bonds. Any county, city and county, or incorporated city or town, which has now or hereafter shall have any moneys in any sinking fund established for the purpose of providing for the payment of the principal or interest of any bonded or other indebtedness, or for any other purpose, is hereby authorized to invest any such moneys temporarily in any bonds already issued or hereafter issued of such county, city and county, or incorporated city or town, respectively, or of the United States or the state of California, or of any other county, city and county, or incorporated city or town, or of any school district within the state, and such investment may be made by direct purchase of any issue of bonds, or part thereof, at the original sale of such bonds, or by the purchase of such bonds after they have been so issued. Any bonds thus purchased and held in any such sinking fund may, from time to time, be sold and the proceeds temporarily reinvested in bonds, as above provided. Sales of any bonds thus purchased and held in any sinking fund shall, from time to time, be made in season, so that the proceeds may be applied to the purposes for which the sinking fund was created.

§ 2. Functions and duties authorized, performed by legislative body. The functions and duties in this act authorized shall be performed by the legislative or governing body of the county, city and county, or incorporated city or town, or under its authority.

§ 3. Repealed acts. An act entitled, "An act authorizing the investment and reinvestment and disposition of any moneys in any sinking fund of any county, city and county, or incorporated city or town," approved March 3, 1909, is hereby repealed.

ACT 2827.

An act authorizing the investment and reinvestment and disposition of any surplus moneys in the treasury of any county, city and county or incorporated city or town.

[Approved April 23, 1913. Stats. 1913, p. 76.]

See prior act.

§ 1. Investment of surplus county funds. Sale of bonds. § 2. Legislative body of city or county to perform duties under act.

§ 1. Investment of surplus county funds. Sale of bonds. Any county, city and county, or incorporated city or town which now

has, or hereafter shall have, any surplus money in the treasury thereof, not required for the immediate necessities of the said county, city and county, or incorporated city or town, is hereby authorized to invest such portion of any such surplus as to the governing body of the said county, city and county, or incorporated city or town may be deemed wise or expedient in any bonds already issued or hereafter issued by such county, city and county, or incorporated city or town respectively, or in bonds already issued or hereafter issued by any school district situated in whole or in part within the limits of such county, city and county, or incorporated city or town, or in bonds already issued or hereafter issued by the state of California, or the United States, and such investment may be made by direct purchase of any issue of bonds, or part thereof, at the original sale of such bonds, or by the purchase of such bonds after they have been thus issued. Any bonds thus purchased and held may, from time to time, be sold and the proceeds reinvested in bonds as above provided. Sales of any bonds thus purchased and held shall, from time to time, be made in season so that the proceeds may be applied to the purposes for which the money, with which the bonds were originally purchased, was placed in the treasury of the county, city and county, or incorporated city or town.

§ 2. Legislative body of city or county to perform duties under act. The functions and duties of this act authorized shall be performed by the legislative or governing body of the county, city and county, or incorporaated city or town, or under its authority.

ACT 2828.

An act providing for the designation of money in the state treasury as surplus money, authorizing the investment and reinvestment of such money in certain classes of bonds, directing the disposal of interest or premium received therefrom and permitting the subsequent sale or exchange of the bonds so purchased.

[Approved June 10, 1913. Stats. 1913, p. 563.]

Amended 1921, p. 728.

§ 1. Investment of surplus money in state treasury.

§ 2. Designation of surplus money. Maximum.

$ 3. Sale or exchange of bonds purchased.

§ 4.

Certain funds not affected.

§ 1. Investment of surplus money in state treasury. Any money in the state treasury which shall have been designated as surplus money under the provisions of this act may in the manner hereinafter provided be invested in bonds of any of the following classes:

(a) Bonds or interest-bearing notes or obligations of the United States, or those for which the faith and credit of the United States are pledged for the payment of principal and interest;

(b) Bonds of this state, or those for which the faith and credit of the state of California are pledged for the payment of principal and interest; (c) Bonds of any county, city and county, city or school district of this state.

§ 2. Designation of surplus money. Maximum. The state treasurer, and the members of the state board of control shall at such times

as they deem necessary, or upon request in writing of the state treasurer, meet and determine whether any portion of the money then in the state treasury is not necessary for immediate use, and if so, the amount thereof, which amount shall thereupon be designated as "surplus money"; provided, however, that the amount so fixed and determined as surplus money shall not at any time be in excess of seventy-five per cent of the least amount of money shown by the records in the treasurer's office to have been in the state treasury at the end of any day's transactions during the twelve months' period next preceding compiled in accordance with the provisions of section 675 of the Political Code. Upon the unanimous approval of said state officials, there shall be spread upon the minutes of the state board of control at each such meeting a resolution designating the amount of money so determined by them to be surplus money within the meaning of this act, and thereupon the state board of control shall proceed to invest the same in the purchase of bonds of any of the classes described in section 1 of this act.

§ 3. Sale or exchange of bonds purchased. Interest paid into "bond investment fund." Any bonds purchased or held under the provisions of this act may be sold or exchanged for other bonds of any of the classes described in section one of this act, and the money received from any such sale may be reinvested by the state board of control in the purchase of any such bonds; provided, that no such sale or exchange shall be made at a price less than the market price of such bonds so sold or exchanged; and provided, further, that any interest or premium collected or received by the state from any bonds purchased or held under the provisions of this act shall be credited by the state treasurer to a fund to be known as the "bond investment fund" which fund is hereby established. The state treasurer shall semi-annually, on the last days of June and December, transfer one-half of the amount then in said fund to the general fund, and shall transfer one-half of the amount then in said fund to the state school land fund. [Amendment approved May 27, 1921; Stats. 1921, p. 728.]

§ 4. Certain funds not affected. This act shall not be construed as affecting the method of investing the state school land fund, the estates of deceased persons fund, the dissolved savings bank fund, or the sinking funds under the control of the state treasurer, and the laws relating thereto shall remain in full force and effect.

ACT 2829.

An act to provide for the reversion of unexpended balances of certain appropriations.

[Approved June 13, 1913. Stats. 1913, p. 809.]

§ 1. Reversion of unexpended balances.

§ 1. Reversion of unexpended balances. No money shall hereafter be paid out of the general fund of the state treasury for or on account of any appropriation made by the legislature of the state of California prior to the first day of January, 1906; but all unexpended balances of all such appropriations shall revert to and become a part of the unappropriated moneys in the general fund; provided, that nothing herein contained shall be 80 construed as to repeal