Section 1179.30 Of Chapter 3. Fiscal Provisions From California Health And Safety Code >> Division 1. >> Part 6. >> Chapter 3.
1179.30
. Bonds in the total amount of seven hundred fifty million
dollars ($750,000,000), not including the amount of any refunding
bonds, 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.