California Statutes
§ 16941. — 16941. (Added by Stats. 2004, Ch. 215, Sec. 4.)
California·Code GOV Government Code - GOV·Div. 4.·Title 2. DIVISION 4. FISCAL AFFAIRS·Part 3. PART 3. STATE BONDS·Ch. 8. CHAPTER 8. The California Pension Restructuring Bond Act of 2004·Art. 1. ARTICLE 1. General Provisions
It is the intent of the Legislature, in enacting this chapter, to provide for an efficient, equitable, and economical means of satisfying certain pension obligations of the state. Bonds shall be issued pursuant to this chapter only when the Director of Finance determines that the state’s pension obligations are anticipated to be reduced as a result of changes in the Public Employees’ Retirement Law that reduce contributions to the Public Employees’ Retirement System, and it is in the best interest of the state to issue bonds pursuant to this chapter to accelerate a portion of the state’s anticipated lower pension obligations.
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California § 16941. (16941. (Added by Stats. 2004, Ch. 215, Sec. 4.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 2004, Ch. 215, Sec. 4. Effective August 11, 2004.