Bonds in the total amount of one billion nine hundred ninety million dollars ($1,990,000,000), exclusive of refunding bonds, or so much thereof as is necessary, may be issued and sold to be used for carrying out the purposes expressed in this part 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 of California, and the full faith and credit of the State of California is hereby pledged for the punctual payment of both principal and interest as they become due and payable.
Cal. Pub. Util. Code § 99690.5
Bonds
Known as the Clean Air and Transportation Improvement Bond Act
The act spans §§ 99690–99696 (14 sections).
Applied in 2 court decisions — leading case 175 Cal. App. 4th 577 - Shaw v. People Ex Rel. Chiang (2009)
Most recently applied in 175 Cal. App. 4th 577 - Shaw v. People Ex Rel. Chiang (June 2009)
Added June 5, 1990, by initiative Proposition 116.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.