California § 63031 - No liability shall be incurred by the bank beyond the extent to which funds have
Full text of California Public Contract Code - PCC § 63031 — No liability shall be incurred by the bank beyond the extent to which funds have, with citation guidance and answers to common questions.
§ 63031. No liability shall be incurred by the bank beyond the extent to which funds have
No liability shall be incurred by the bank beyond the extent to which funds have been provided under this division. However, for the purposes of meeting the necessary expenses of initial organization and operation until the date that the bank derives revenues or proceeds from bonds as provided under this division, the bank may borrow money as needed for the purposes of meeting the necessary expenses of initial organization and operation from the Pooled Money Investment Account, as specified in subdivision (w) of Section 63025.1 or from any special funds, including the special funds of existing financing authorities. The borrowed money shall be repaid with interest within a reasonable time after the bank receives revenues or proceeds from bonds as provided under this division.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 63031
What does Public Contract Code - PCC § 63031 cover?
Section 63031 ("No liability shall be incurred by the bank beyond the extent to which funds have") 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 § 63031?
A common citation format is "Public Contract Code - PCC § 63031" (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 § 63031 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.