Section 16813 Of Chapter 5. State Indebtedness From California Government Code >> Division 4. >> Title 2. >> Part 3. >> Chapter 5.
16813
. Bonds of the State of California shall be prepared, issued,
and sold in the amount of one hundred million dollars ($100,000,000),
in such denominations, to be numbered, to bear such dates, and to
bear such rate of interest as shall be determined by the Legislature.
The proceeds of such bonds shall be used:
(a) Subject to such legislation as the Legislature may, from time
to time, enact, to provide loans and grants to school districts of
the state for use in purchasing and improving school sites, the
purchasing of furniture and equipment for schools, and the planning
and constructing, reconstructing, repairing, altering, and making
additions to, school buildings.
(b) Subject to such legislation as the Legislature may, from time
to time, enact, to provide loans and grants to school districts for
assistance in providing necessary housing and equipment for the
education of individuals who have exceptional needs, as that term is
defined in Section 56026 of the Education Code.
(c) To pay the expenses that may be incurred in preparing,
advertising, issuing, and selling the bonds, and in administering and
directing the expenditure of the moneys realized from the sale of
such bonds.
The issuance, signing, countersigning, endorsing, and selling of
the bonds herein provided for, and the interest coupons thereon, the
place and method of payment of principal and interest thereon, the
procedure for initiating, advertising and holding sales thereof, and
the performance by the several state boards and state officers of
their respective duties in connection therewith; and all other
provisions, terms, and conditions relating to the bonds, shall be as
provided by the Legislature.
The Legislature may appropriate money to be expended in addition
to or in lieu of the money received from the sale of the bonds sold
under the authority of this section. The money so appropriated shall
be expended pursuant to subdivision (a) of this section. If the
Legislature appropriates money in lieu of the money received from the
sale of the bonds, the total amount of bonds required to be sold
pursuant to this section shall be reduced by the amount so
appropriated.
The Legislature shall pass all laws, general or special, necessary
or convenient to carry into effect the provisions of this section.
Such laws may provide for the allocation of funds to school districts
pursuant to this section by the State Allocation Board or a similar
agency and in that event, notwithstanding any other provision of this
Constitution, Members of the Legislature who are required to meet
with such board shall have equal rights and duties with the
nonlegislative members to vote and act upon matters pending before
such board.
The Legislature shall require each district receiving an
allocation of money from the sale of bonds pursuant to this section
for the purposes prescribed in subdivision (a) of this section to
repay such money to the state on such terms and in such amounts as
may be within the ability of the district to repay.
The Legislature may require each district receiving an allocation
of money from the sale of bonds pursuant to this section for the
purposes prescribed in subdivision (b) of this section to repay such
money to the state on such terms and in such amounts as the
Legislature deems proper.
The people of the State of California in adopting this section
hereby declare that it is in the interests of the state and of the
people thereof for the state to aid school districts of the state in
providing necessary school sites and buildings for the pupils of the
public school system, such system being a matter of general concern
inasmuch as the education of the children of the state is an
obligation and function of the state.