California § 101147 - Notwithstanding any other provision of this chapter, or of the State General Obli
Full text of California Public Contract Code - PCC § 101147 — Notwithstanding any other provision of this chapter, or of the State General Obli, with citation guidance and answers to common questions.
§ 101147. Notwithstanding any other provision of this chapter, or of the State General Obli
Notwithstanding any other provision of this chapter, or of the State General Obligation Bond Law, if the Treasurer sells bonds pursuant to this chapter that include a bond counsel opinion to the effect that the interest on the bonds is excluded from gross income for federal tax purposes, subject to designated conditions, the Treasurer may maintain separate accounts for the investment of bond proceeds and for the investment earnings on those proceeds. The Treasurer 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 required or desirable under federal law 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.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 101147
What does Public Contract Code - PCC § 101147 cover?
Section 101147 ("Notwithstanding any other provision of this chapter, or of the State General Obli") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 101147?
A common citation format is "Public Contract Code - PCC § 101147" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 101147 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.