Section 16785 Of Article 6. Refunding Bonds From California Government Code >> Division 4. >> Title 2. >> Part 3. >> Chapter 4. >> Article 6.

. Refunding bonds shall be valid and binding obligations of the State of California, and the full faith and credit of the State of California shall be pledged for the punctual payment of the principal of and interest on the bonds as the principal and interest become due and payable.