§ 16804. — 16804. (Added by Stats. 1970, Ch. 426.)

California § 16804.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 4.
• Title 2.: DIVISION 4. FISCAL AFFAIRS
• Part 3.: PART 3. STATE BONDS
• Ch. 5.: CHAPTER 5. State Indebtedness

Text

The issuance and sale of bonds of the State of California in the sum of two hundred million dollars ($200,000,000) and the use and disposition of the proceeds of the sale of said bonds, all as provided in the State Construction Program Bond Act of 1955 authorizing the issuance and sale of bonds for the purpose of providing a fund to be used to carry out the state construction program contemplated by that act, is hereby authorized and directed, and the State Construction Program Bond Act of 1955 is hereby approved, adopted, legalized, validated and made fully and completely effective; provided, that from the proceeds of the sale of said bonds, the sum of not less than sixty million dollars ($60,000,000) shall be available for expenditure for major building construction, equipment and site acquisition for state colleges now or hereafter established. Nothing in this Constitution shall invalidate or restrict the provisions of this section, nor shall this section prevent amendments to the State Construction Program Bond Act of 1955 which are germane to the subject thereof; provided, such amendments do not increase the sum of the bonds herein authorized to be issued and sold nor utilize the proceeds thereof for purposes not related to the construction program generally described therein.

Legislative History

Added by Stats. 1970, Ch. 426.