California Military and Veterans Code Section 487.2
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California Laws > Military and Veterans Code > California Military and Veterans Code Section 487.2
487.2. Refunding revenue bonds shall not constitute a debt or
obligation of the State of California but shall be revenue bonds of
the department of the same character and payable from the same funds
as other revenue bonds authorized pursuant to this chapter. Any and
all reserve or other funds applicable to the payment of the revenue
bonds to be refunded may, if so directed by the department, be
transferred to any reserve or other funds provided with respect to
the refunding bonds. The pledge of revenues to be received from
contracts entered into by the department with California National
Guard members shall not be lessened, diminished, or affected in any
way by the issuance of such refunding bonds.
Section: 487.2
Last modified: February 22, 2013
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