This part shall be known, and may be cited, as the Kindergarten Through Community College Public Education Facilities Bond Act of 2016.
Chapter 1General
Section § 101110
This law is called the Kindergarten Through Community College Public Education Facilities Bond Act of 2016. It focuses on funding for educational facilities from kindergarten through community college.
Kindergarten Community College Public Education Facilities Bond 2016 Education Bond Act School Funding Educational Facilities Infrastructure Funding School Construction Bond Act California Education Funding School Renovation Educational Infrastructure Public School Funding
Section § 101112
This law allows California to issue and sell bonds up to nine billion dollars to fund specific purposes. These bonds are a legal promise by the state to repay the principal and interest on time, backed by the state's credit.
Bonds in the total amount of nine billion dollars ($9,000,000,000), not including the amount of any refunding bonds issued in accordance with Sections 101140 and 101149, or so much thereof as is necessary, may be issued and sold for the purposes set forth in Sections 101130 and 101144. The bonds, when sold, shall be and constitute a valid and binding obligation of the State of California, and the full
faith and credit of the State of California is hereby pledged for the punctual payment of the principal of, and interest on, the bonds as the principal and interest become due and payable.
California bonds nine billion dollars refunding bonds state obligation payment of principal interest on bonds state credit pledge issued bonds sold bonds funding purposes state repayment promise legal obligation financial backing
