§ 15830. — 15830. (Amended by Stats. 2018, Ch. 92, Sec. 101.)

California § 15830.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 3.
• Title 2.: DIVISION 3. EXECUTIVE DEPARTMENT
• Part 10b.: PART 10b. STATE BUILDING CONSTRUCTION
• Ch. 5.: CHAPTER 5. Revenue Bonds

Text

(a)
The bonds issued to finance the construction of a public building or buildings pursuant to this part shall be special obligations of this state secured solely by the revenues, rentals, or receipts received from the operation of the public building or buildings financed by these bonds.
(b)
A bond issued or sold pursuant to this part shall not be or become a lien, charge, or liability against the State of California or against its property or funds except to the extent of the pledges expressly made by this part. Every bond issued pursuant to this part shall contain a recital on the face thereof stating that neither the payment of the principal nor any part thereof, nor any interest thereon, constitutes a debt, liability, or
general obligation of the State of California other than as provided in this part. The board has no power at any time or in any manner to pledge the credit or taxing power of the state, other than as provided in this part.

Legislative History

Amended by Stats. 2018, Ch. 92, Sec. 101. (SB 1289) Effective January 1, 2019.