SECTIONS 67860 - California Statutes

GOVERNMENT CODE

SECTION 67860

67860. The State of California does hereby pledge to and agree with
the holders of any bonds issued, and with any public or private
entity with which the board has entered into a contract or an
agreement, pursuant to the provisions of this title, that the state
will not alter or change the structure, organization, programs, or
powers hereby vested in the board until those bonds are fully met or
discharged and until the board has fully met or discharged its
obligations pursuant to those agreements or contracts. However,
nothing in this title shall preclude an alteration or change if, and
when, adequate provision shall have been made by law for the
protection from impairment of the contracts represented by those
bonds or contracts or agreements, and the right to so alter or change
is hereby reserved. The board is authorized to include this pledge
and undertaking of the state in its bonds and contracts or
agreements.