The Legislature hereby finds and declares that, inasmuch as the proceeds from the sale of bonds authorized by this chapter are not “proceeds of taxes” as that term is used in Article XIII B of the California Constitution, the disbursement of these proceeds is not subject to the limitations imposed by that article.
(Amended by Stats. 2006, Ch. 538, Sec. 96. Effective January 1, 2007. Note: This section was added by Stats. 1988, Ch. 49, and approved in Prop. 85 on Nov. 8, 1988.)
Last modified: October 25, 2018