Section 12879.7 Of Article 3. Fiscal Provisions From California Water Code >> Division 6. >> Part 6. >> Chapter 4.7. >> Article 3.
12879.7
. Bonds in the total amount of sixty million dollars
($60,000,000), exclusive of refunding bonds issued pursuant to
Section 12879.15, or so much thereof as is necessary, may be issued
and sold to provide a fund to be used for carrying out the purposes
expressed in this chapter and to be used to reimburse the General
Obligation Bond Expense Revolving Fund pursuant to Section 16724.5 of
the Government Code. All bonds herein authorized, which have been
duly sold and delivered as herein provided, shall constitute valid
and legally binding general obligations of the State of California,
and the full faith and credit of the State of California is hereby
pledged for the punctual payment of both principal and interest
thereof.