This law allows California to issue and sell up to $100 million in bonds. The funds from these bonds will support the goals outlined in this chapter and reimburse certain state expenses. These bonds are a legal commitment, backed by the state's promise to repay with interest when due.

Each year, a certain amount of money needs to be collected along with other state revenues. This is to ensure there are enough funds to pay the principal and interest on bonds that are due that year. State officials responsible for collecting revenue must perform all required tasks to collect this additional money.

This law allocates money from the General Fund to cover certain expenses related to bonds issued under this chapter. Specifically, it ensures there's enough money to pay back both the principal and interest on these bonds as they become due. It also sets aside funds needed to implement the provisions of Section 5733, and this is done without concern for fiscal year limitations.

This law allows the Director of Finance to temporarily take money from the state's General Fund for projects under this chapter, as long as it doesn't exceed the value of unsold bonds that have been approved for sale. This borrowed money must be reimbursed to the General Fund later, using proceeds from the bond sales. Additionally, the money must be returned with interest, calculated based on the earnings of a specific state investment account during the loan period.

This section says that if the Treasurer sells bonds and they come with a legal opinion stating that the interest on the bonds is not subject to federal taxes, the Treasurer has some flexibility. Specifically, they can keep separate accounts for the income from selling the bonds and any profits made from investing that income. They can also use this money to comply with federal rules about keeping the bonds tax-exempt, even if it means paying penalties or making special payments.

This law section states that bonds created under this chapter must follow the rules in the State General Obligation Bond Law. Everything in that law also applies here, even if it's not written out in this chapter.

This section establishes the Community Parklands Program Finance Committee, which is responsible for managing the issuance and sale of bonds as outlined in this chapter. The committee is composed of three members: the Controller, the Director of Finance, and the Treasurer, who serves as the chairperson. The purpose of this committee is to facilitate financing projects related to community parklands through bonds as mentioned in the State General Obligation Bond Law.

This law states that any money earned from selling bonds, including both the premiums and any interest earned, should be kept in a specific fund. This money can be later moved over to the General Fund to help cover the costs of bond interest expenses.

This part of the law states that money made from selling certain bonds doesn't count as tax money according to a specific part of the California Constitution. Because of this, the rules that usually limit how tax money can be used don't apply to this bond money.

This law says that if any part of this chapter is found to be invalid or can't be applied to a person or situation, it doesn't affect the rest of the chapter. The valid parts will continue to be in effect, and different sections of the chapter can be separated and still work independently if needed.