DIVISION 8. Downtown Revitalization and Economic Recovery Financing Districts 62450-62464›CHAPTER 3. Expenditures 62590-62592›ARTICLE 9. Financing of School District Emergency Apportionments 63049.67-63049.68
§ 63049.68
California Government Code · 2026-09 edition · updated 2026-09-27 · California
The State of California pledges that (a) the state will not alter the directive to the Controller to make apportionments to the bond trustee of moneys in the State School Fund and the Education Protection Account from that set forth in Section 41329.55 of the Education Code, and (b) the state will not amend or repeal subdivision (f) of Section 63049.67, in each case in any manner that would materially impair the security or other interests of holders of any bonds issued pursuant to this article. The bank is authorized to include this pledge in the bonds, or other documents entered into in connection with the bonds, as a covenant for the benefit of the bondholders.
(Amended by Stats. 2013, Ch. 48, Sec. 81. (AB 86) Effective July 1, 2013.)
Retrieved: 2026-09-24T17:57:18.148727+00:00
Get a plain-English answer with a citation back to this text.
Ask AI about this code