This law states that the rules it contains are important for protecting the health, welfare, and safety of the public. Therefore, these rules should be interpreted in a flexible way that best achieves their intended purposes.

This law section explains that it provides a special and additional way to handle certain financial actions, like issuing bonds and managing budget deficits, without having to follow other state or local laws that usually apply to such actions. It allows for the sale of bonds and dealing with existing debt in its own independent way, even if other laws typically cover these activities.

This law states that bonds issued under this title are valid investments for state funds or trusts, regardless of any other laws that might restrict their investment options. These bonds can be invested in by a wide range of parties, including state officers, banks, insurance companies, trust companies, fiduciaries, and other authorized parties. Furthermore, these bonds can be used as secure backing for public funds, which includes any obligations or deposits made for public purposes.

This law allows an authority to file a lawsuit to confirm the legality of bonds or related contracts in Sacramento's Superior Court. Any judgment from these cases can only be reviewed by petitioning the California Supreme Court within 15 days of the judgment notice. If the petition isn't submitted on time, or if it's denied, the Superior Court's decision is final. During Supreme Court review, if no one else participated in the lower court case, only jurisdiction-related issues can be considered.

This law requires the Director of Finance to immediately inform certain government officials if a new amendment to the California Constitution, approved in a 2009 statewide election, limits how much money can be moved from a special savings account, called the Budget Stabilization Account, to the state's main spending account, the General Fund. These officials include members of the Joint Legislative Budget Committee, and directors of the Franchise Tax Board, State Board of Equalization, and Department of Motor Vehicles.

This law section requires the Director of Finance to promptly inform specific state officials if an action is taken before July 1, 2012, that affects the Healthy Families Program. This includes moving enrollees from Healthy Families to Medi-Cal, shifting administrative tasks from the Managed Risk Medical Insurance Board, stopping the Healthy Families Program, or ending the authorization for the board.