Added by Stats. 1990, Ch. 6, Sec. 1. Approved in Proposition 121 at the June 5, 1990, election.
This chapter shall be known and may be cited as the Higher Education Facilities Bond Act of June 1990.
Article 1 - General Provisions
California Education Code — §§ 67345-67345.2
Sections (3)
Added by Stats. 1990, Ch. 6, Sec. 1. Approved in Proposition 121 at the June 5, 1990, election.
The Legislature finds and declares all of the following:
(a)California’s economic and social prosperity relies on a higher education system that keeps pace with California’s growth. In the coming decades, the state’s economic prosperity will depend on increasing the productivity of the work force and on the ability to compete successfully in the world marketplace.
(b)The system of public higher education in this state includes the University of California, the California State University, the California Community Colleges, and the California Maritime Academy. Each of these institutions plays a vital role in maintaining California’s dominance in higher education in the United States.
(c)Over the last several years, studies have been completed by the University of California, the California State University, and the California Community Colleges to assess their long-term and short-term capital needs. Those studies demonstrate that the long-term and short-term needs total, in the aggregate, several billion dollars.
(d)The purpose of the Higher Education Facilities Bond Act of June 1990 is to assist in meeting the capital outlay financing needs of California’s public higher education system.
Added by Stats. 1990, Ch. 6, Sec. 1. Approved in Proposition 121 at the June 5, 1990, election.
As used in this chapter, the following terms have the following meanings:
(a)“Committee” means the Higher Education Facilities Finance Committee created pursuant to Section 67353.
(b)“Fund” means the June 1990 Higher Education Capital Outlay Bond Fund created pursuant to Section 67346.