Cal. Ed. Code § 101403

Current through 2024 Legislative Session

Section 101403 - [See Note] Bonds may be issued and sold

Bonds in the total amount of ten billion dollars ($10,000,000,000), not including the amount of any refunding bonds issued in accordance with Sections 101430 and 101451, may be issued and sold for the purposes set forth in Sections 101420 and 101442. The bonds, when sold, issued, and delivered, shall be and constitute a valid and binding obligation of the State of California, and the full faith and credit of the State of California is hereby pledged for the punctual payment of the principal of, and interest on, the bonds as the principal and interest become due and payable.

Ca. Educ. Code § 101403

Added by Stats 2024 ch 81 (AB 247),s 28, eff. upon the adoption by the voters of the Kindergarten Through Grade 12 Schools and Local Community College Public Education Facilities Modernization, Repair, and Safety Bond Act of 2024, as set forth in Section 28 of this act..