Purpose
To comply with provisions requiring authority to pay over to federal government excess earnings (generally, portion of investment income attributable to a yield on investments higher than yield on bonds received from investment of proceeds of bonds and certain monies held in connection with the bonds). Rebate fund is for the sole benefit of the United States of America and not subject to claim of any bond owner. From time to time, Comptroller will transfer to the fund amounts directed by authority to be paid to federal government.