All moneys derived from premiums and accrued interest on bonds sold pursuant to this part shall be transferred to the General Fund as a credit to expenditures for bond interest; provided, however, that amounts derived from premiums may be reserved and used to pay the costs of bond issuance prior to transfer to the General Fund.

(Added by Stats. 2017, Ch. 365, Sec. 3. Approved in Proposition 1 at the November 6, 2018, election; effective November 7, 2018.)