California Government Code

§ 16811

GOV § 16811Div. 4 · Title 2 · Part 3 · Ch. 5

Statute text

Bonds of the State of California shall be prepared, issued, and sold in the amount of one hundred eighty-five million dollars ($185,000,000), 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)To provide loans and grants to the several school districts of the State, subject to such legislation, rules, or regulations as the Legislature may, from time to time determine.

(b)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.

…

Legislative history

Added by Stats. 1970, Ch. 426.