SECTIONS 100600-100603 - California Statutes

EDUCATION CODE

SECTION 100600-100603

100600. This part shall be known and may be cited as the
Kindergarten-University Public Education Facilities Bond Act of 2002.

100601. The incorporation of, or reference to, any provision of
California statutory law in this part includes all acts amendatory
thereof and supplementary thereto.

100603. (a) Bonds in the total amount of thirteen billion fifty
million dollars ($13,050,000,000), not including the amount of any
refunding bonds issued in accordance with Sections 100644 and 100755,
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 part and to reimburse the General Obligation Bond Expense
Revolving Fund pursuant to Section 16724.5 of the Government Code.
The bonds, when sold, shall be and constitute a valid and binding
obligation of the State of California, and the full faith and credit
of the State of California is hereby pledged for the punctual payment
of the principal of, and interest on, the bonds as the principal and
interest become due and payable.
(b) Pursuant to this section, the Treasurer shall sell the bonds
authorized by the State School Building Finance Committee established
by Section 15909 or the Higher Education Facilities Finance
Committee established pursuant to Section 67353, as the case may be,
at any different times necessary to service expenditures required by
the apportionments.