California Code of Regulations
Title 21 - Public Works
Division 3 - California State Transportation Agency
Chapter 2 - Transportation Development [Renumbered]
Article 3 - Responsibilities of the County Auditor
Section 6623 - Fund Interest, Income, and Investments
The county auditor as fund trustee shall arrange with the county treasurer for investment of moneys in the local transportation fund of the county at the highest rate of return consistent with prudent fund management and the need to permit disbursement of funds in accordance with allocation instructions issued by the transportation planning agency.
Interest earned will be reported to the transportation planning agency and disbursed only in accordance with allocation instructions issued by the transportation planning agency. Such instructions shall be consistent with section 29530 of the Government Code and sections 99234.1, 99301, 99301.5, 99301.6, and 99304 of the Public Utilities Code.
1. Amendment filed 3-4-77; effective thirtieth day thereafter (Register 77, No. 10).
2. Amendment filed 2-7-78; effective thirtieth day thereafter (Register 78, No. 6).
3. Editorial correction adding NOTE filed 6-21-84; effective thirtieth day thereafter (Register 84, No. 25).
4. Amendment filed 10-17-86; effective thirtieth day thereafter (Register 86, No. 42).
5. Amendment filed 8-16-88; operative 9-15-88 (Register 88, No. 34).
6. Amendment filed 8-13-90; operative 9-12-90 (Register 90, No. 40).
Note: Authority cited: Section 99241, Public Utilities Code; and Section 29534, Government Code. Reference: Sections 29530 and 29534, Government Code; and Sections 99234.1, 99301, 99301.5, 99301.6 and 99304, Public Utilities Code.
