Section 7424 Of Chapter 16. New Prison Construction Bond Act Of 1990 From California Penal Code >> Title 7. >> Part 3. >> Chapter 16.

. The committee is hereby authorized and empowered to create a debt or debts, liability or liabilities, of the State of California, in the aggregate principal amount of four hundred fifty million dollars ($450,000,000), exclusive of refunding bonds, in the manner provided in this chapter. That debt or debts, liability or liabilities, shall be created for the purpose of providing the fund to be used for the object and work specified in Section 7426.