Section 15900 Of Chapter 5. State School Building Finance Committee From California Education Code >> Division 1. >> Title 1. >> Part 10. >> Chapter 5.

. For the purpose of creating a fund to provide aid to school districts of the state, the State School Building Finance Committee, created by Section 15909, shall be and it hereby is authorized and empowered to create a debt or debts, liability or liabilities, of the state in the manner and to the extent hereinafter provided, but not otherwise, nor in excess thereof.