SECTIONS 101000-101002 - California Statutes

EDUCATION CODE

SECTION 101000-101002

101000. This part shall be known and may be cited as the
Kindergarten-University Public Education Facilities Bond Act of 2006.

101001. The incorporation of, or reference to, any provision of
California statutory law in this part includes all acts amendatory
thereof and supplementary thereto.

101002. (a) Bonds in the total amount of ten billion four hundred
sixteen million dollars ($10,416,000,000), not including the amount
of any refunding bonds issued in accordance with Sections 101030,
101039, and 101059, 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.