Section 1004.3 Of Article 5. Issuance Of Refunding Debentures From California Military And Veterans Code >> Division 4. >> Chapter 7. >> Article 5.
1004.3
. Refunding debentures shall not constitute a debt or
obligation of the State of California but shall be debentures of the
department of the same character and payable from the same funds as
other debentures authorized pursuant to this chapter. Any and all
reserve or other funds applicable to the payment of the debentures to
be refunded may, if so directed by the department, be transferred to
any reserve or other funds provided with respect to the refunding
debentures. The pledge of revenues to be received from contracts
entered into by the department with veterans shall not be lessened,
diminished, or affected in any way by the issuance of such refunding
debentures.