Purpose
To comply with provisions of the Code that require the authority to pay over to the federal government any excess earnings (generally, the portion of investment income attributable to a yield on investments that is higher than the yield on the bonds) received from investment of the proceeds of the bonds and certain monies held in connection with the bonds. The rebate fund is for the sole benefit of the United States of America and will not be subject to the claim of any bond owner. From time to time the Comptroller will transfer to this fund the amounts directed by the authority to be paid to the federal government pursuant to the Code.
| Classification | Group 04: Pledged Funds [?] |
|---|---|
| Depository Interest | Retained in appropriated fund. |
| Disposition of Balance | Accumulative |
| Appropriation Technique | General Appropriations Act |
Administering Agencies
Financial Activity
To view this appropriated fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:
Note
USAS Values
| USAS Title | TPFA BLDG REV REF SER 1990 REBATE FD |
|---|---|
| Consolidated Fund | |
| State Fund Group | 04 - PLEDGED FUNDS |
| USAS Status | I |
Created by bond resolution requirements which specify the maintenance of separate funds to account for the bond program.