Added by Stats. 1998, Ch. 407, Sec. 16. Approved in Proposition 1A at the November 3, 1998, election.
This part shall be known and may be cited as the Class Size Reduction Kindergarten–University Public Education Facilities Bond Act of 1998.
Chapter 1 - Class Size Reduction Kindergarten–University Public Education Facilities Bond Act of 1998
California Education Code — §§ 100400-100405
Sections (4)
Added by Stats. 1998, Ch. 407, Sec. 16. Approved in Proposition 1A at the November 3, 1998, election.
The incorporation of, or reference to, any provisions of California statutory law in this part includes all acts amendatory thereof and supplementary thereto.
Added by Stats. 1998, Ch. 407, Sec. 16. Approved in Proposition 1A at the November 3, 1998, election.
(a)Bonds in the total amount of nine billion two hundred million dollars ($9,200,000,000), not including the amount of any refunding bonds issued in accordance with Chapter 2 (commencing with Section 100410) and Chapter 3 (commencing with Section 100450), or so much thereof as is necessary, may be issued and sold to provide a fund to be used for carrying out the purposes expressed in this part and to reimburse the General Obligation Bond Expense Revolving Fund pursuant to Section 16724.5 of the Government Code. The bonds, when sold, 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.
(b)Pursuant to this section, the Treasurer shall sell the bonds authorized by the State School Building Finance Committee established by Section 15909 and the Higher Education Facilities Finance Committee established pursuant to Section 67353 at any different times necessary to service expenditures required by the apportionments.
Added by Stats. 1998, Ch. 407, Sec. 16. Approved in Proposition 1A at the November 3, 1998, election.
For purposes of this part, “Chapter 12” means Chapter 12 (commencing with Section 17000) of Part 10 and “Chapter 12.5” means Chapter 12.5 (commencing with Section 17070.10) of Part 10.