(a) The proceeds of bonds issued and sold pursuant to this chapter shall be deposited in the Community Parklands Fund, which is hereby created.
(b) All money deposited in the fund shall be available for appropriation in the manner set forth in Section 5735 in an amount not to exceed one hundred million dollars ($100,000,000) for grants to counties, cities, and districts for the acquisition, development, rehabilitation, or restoration of real property for park, beach, recreational, or historical resources preservation purposes.
(Added by Stats. 1986, Ch. 5, Sec. 1. Approved in Proposition 43 at the June 3, 1986, election. Operative July 1, 1986, by Stats. 1986, Ch. 5, Sec. 2.)
Last modified: October 25, 2018