Cal. Government Code § 63049.74

(a) There is hereby created the California Transmission Accelerator Revolving Fund in the State Treasury for the purpose of providing financial assistance under the accelerator program in accordance with this article. The fund shall be separate from any other fund or account created under other chapters or articles of this division. (b) (1) The bank may direct the Treasurer to invest moneys in the Accelerator Revolving Fund in any eligible securities in Section 16430. (2) The bank may direct the Treasurer to deposit moneys in interest-bearing accounts in any bank in this state or in savings and loan associations in this state. The bank may alternatively require the transfer of money in the fund to the Surplus Money Investment Fund for investment pursuant to Article 4 (commencing with Section 16470) of Chapter 3 of Part 2 of Division 4 of Title 2. (3) Notwithstanding Section 16305.7, all interest or other increment resulting from the investment or deposit of moneys from the California Transmission Accelerator Revolving Fund shall be deposited in the fund. Moneys in the fund shall not be subject to transfer to any other funds pursuant to any provision of Part 2 (commencing with Section 16300) of Division 4 of Title 2, except to the Surplus Money Investment Fund. (4) Notwithstanding any contrary provision in this article, moneys in the California Transmission Accelerator Revolving Fund may be deposited in accounts held by a trustee bank, or other financial institution, in connection with any financial assistance, including, but not limited to, direct loans to the accelerator projects or the issuance of any revenue bonds for the purpose of this article. (c) The California Transmission Accelerator Revolving Fund shall be organized as a public enterprise fund. (d) The Accelerator Revolving Fund shall be eligible to receive funding from other sources determined by the Legislature. (e) Revenues of, and all other income collected by, participating entities for the repayment of the financial assistance described in subdivision (a) shall be deposited into the Accelerator Revolving Fund. (f) Proceeds of revenue bonds issued pursuant to this division article shall be deposited into the Accelerator Revolving Fund. (g) (1) The bank may pledge any or all of the moneys in the Accelerator Revolving Fund as security for payment of the principal of, and interest on, any particular issuance of bonds issued for the purposes of this article. (2) The bank may use any or all of the moneys in the Accelerator Revolving Fund to retain or purchase for retention or sale, subordinated bonds issued by the bank, by a special purpose trust, or by a sponsor, all in connection with the purposes of this article. (h) (1) Notwithstanding Section 13340, moneys, except as provided in paragraphs (2) and (3), in the Accelerator Revolving Fund are continuously appropriated, without regard to fiscal year, for the support of eligible entities and shall be available for expenditure for the purposes as stated in this article. (2) Moneys in the Accelerator Revolving Fund received pursuant to a federal appropriation are available for expenditure only upon appropriation by the Legislature. (3) Moneys in the Accelerator Revolving Fund shall be available for expenditure to support administrative costs only upon appropriation by the Legislature. (4) Obligations of the bank incurred in connection with the activities authorized under this article shall be payable solely from moneys within the California Transmission Accelerator Revolving Fund. No other fund or account of the bank shall be available or shall be used for the payment of obligations incurred in connection with this article.