California Education Code 67337 – The committee shall authorize the issuance of bonds under this …
The committee shall authorize the issuance of bonds under this chapter only to the extent necessary to fund the apportionments that are expressly authorized by the Legislature in the annual Budget Act. Pursuant to that legislative direction, the committee shall determine whether or not it is necessary or desirable to issue bonds authorized pursuant to this chapter in order to carry out the actions specified in Section 67334 and, if so, the amount of bonds to be issued and sold. Successive issues of bonds may be authorized and sold to carry out those actions progressively, and it is not necessary that all of the bonds authorized to be issued be sold at any one time.
(Added by Stats. 1988, Ch. 44, Sec. 1. Approved in Proposition 78 at the November 8, 1988, election.)
Terms Used In California Education Code 67337
- Committee: means the Higher Education Facilities Finance Committee created pursuant to Section 67353. See California Education Code 67332
- Fund: means the 1988 Higher Education Capital Outlay Bond Fund created pursuant to Section 67333. See California Education Code 67332