§ 101420. — 101420. (Added by Stats. 2024, Ch. 81, Sec. 28.)

California § 101420.

• Jurisdiction: California
• Code EDC: Education Code - EDC
• Div.: 14.
• Title 3.: DIVISION 14. MISCELLANEOUS
• Part 72.: PART 72. The Kindergarten Through Grade 12 Schools and Local Community College Public Education Facilities Modernization, Repair, and Safety Bond Act of 2024
• Ch. 2.: CHAPTER 2. Kindergarten through Grade 12
• Art. 2.: ARTICLE 2. Kindergarten Through Grade 12 School Facilities Fiscal Provisions

Text

(a)
Of the total amount of bonds authorized to be issued and sold pursuant to Chapter 1 (commencing with Section 101400), bonds in the amount of eight billion five hundred million dollars ($8,500,000,000), not including the amount of any refunding bonds issued in accordance with Section 101430, may be issued and sold to provide a fund to be used for carrying out the purposes expressed in this chapter and to reimburse the General Obligation
Bond Expense Revolving Fund pursuant to Section 16724.5 of the Government Code.
(b)
Pursuant to this section, the Treasurer shall sell the bonds authorized by the State School Building Finance Committee established pursuant to Section 15909 at any times necessary to service expenditures required by the apportionments.

Legislative History

Added by Stats. 2024, Ch. 81, Sec. 28. (AB 247) Approved in Proposition 2 at the November 5, 2024, election. Effective November 6, 2024.