§ 20000

Bonds in the amount of three hundred forty-four million nine hundred sixty thousand dollars ($344,960,000), excluding refunding bonds, or so much thereof as is necessary, may be issued and sold for deposit in the fund to be used in accordance with, and for carrying out the purposes of, this chapter, and to be used to reimburse the General Obligation Bond Expense Revolving Fund pursuant to Section 16724.5 of the Government Code. The bonds, when sold, shall be and constitute a valid and binding obligation of the state, and the full faith and credit of the state is hereby pledged for the punctual payment of both principal of and interest on bonds as the principal and interest become due and payable.

(Amended by Stats. 2026, Ch. 255, Sec. 3. (AB 184) Effective September 18, 2026.)