Section 101032 - California Community College Capital Outlay Fund established; creation of debt or liability of state(a) The 2006 California Community College Capital Outlay Bond Fund is hereby established in the State Treasury for deposit of funds from the proceeds of bonds issued and sold for the purposes of this chapter.(b) The Higher Education Facilities Finance Committee established pursuant to Section 67353 is hereby authorized to create a debt or debts, liability or liabilities, of the State of California pursuant to this chapter for the purpose of providing funds to aid the California Community Colleges.Added by Stats 2006 ch 35 (AB 127),s 16, eff. 5/20/2006. The voters approved this proposition at the November, 2006 general election.