California § 14063 - Grant anticipation notes shall be issued only in anticipation of a grant or fundi
Full text of California Public Contract Code - PCC § 14063 — Grant anticipation notes shall be issued only in anticipation of a grant or fundi, with citation guidance and answers to common questions.
§ 14063. Grant anticipation notes shall be issued only in anticipation of a grant or fundi
(a) Grant anticipation notes shall be issued only in anticipation of a grant or funding commitment to the department which has been stated by the granting authority or agency to be contracted, committed, or appropriated and payable on a specified date or dates or upon the happening of a specified event or events. The amount of grant anticipation notes outstanding at any time shall not exceed 75 percent of the grant or funding. (b) The proceeds of the grant shall be pledged to the payment of the grant anticipation notes, and the interest thereon. The notes, and the interest thereon, shall be a first lien upon the proceeds. (c) Grant anticipation notes and the interest thereon shall be payable from the proceeds of the grant or funding in anticipation of which the notes are issued, from the Passenger Equipment Acquisition Fund, or from any other funds lawfully available therefor.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 14063
What does Public Contract Code - PCC § 14063 cover?
Section 14063 ("Grant anticipation notes shall be issued only in anticipation of a grant or fundi") 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 § 14063?
A common citation format is "Public Contract Code - PCC § 14063" (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 § 14063 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.