Title PEN, California Penal Code

The committee is hereby authorized and empowered to create a debt or debts, liability or liabilities, of the state, in the aggregate principal amount of four hundred forty-nine million three hundred ninety-five thousand dollars ($449,395,000), excluding refunding bonds, in the ma…

The committee may determine whether or not it is necessary or desirable to issue any bonds authorized under this chapter, and if so, the amount of bonds then to be issued and sold. The committee may authorize the Treasurer to sell all or any part of the bonds herein authorized at…

The moneys in the fund shall be used for the acquisition, construction, renovation, remodeling, and deferred maintenance of state youth and adult correctional facilities. (Added by Stats. 1990, Ch. 5, Sec. 1. Approved in Proposition 120 at the June 5, 1990, election.)

Moneys deposited in the fund may also be used for the refinancing of interim debt incurred for any of the purposes specified in Section 7426. (Added by Stats. 1990, Ch. 5, Sec. 1. Approved in Proposition 120 at the June 5, 1990, election.)

(a) All bonds herein authorized, which shall have been duly sold and delivered as herein provided, shall constitute valid and legally binding general obligations of the State of California, and the full faith and credit of the State of California is hereby pledged for the punctua…

Notwithstanding Section 13340 of the Government Code, there is hereby appropriated from the General Fund in the State Treasury for the purpose of this chapter such an amount as will equal the following: (a) That sum annually as will be necessary to pay the principal of and the in…

For the purpose of carrying out this chapter, the Director of Finance may by executive order authorize the withdrawal from the General Fund of an amount or amounts not to exceed the amount of the unsold bonds which the committee has by resolution authorized to be sold for the pur…

The board may request the Pooled Money Investment Board to make a loan from the Pooled Money Investment Account, in accordance with Section 16312 of the Government Code, for the purposes of carrying out the provisions of this chapter. The amount of the request shall not exceed th…

Any bonds issued and sold pursuant to this chapter may be refunded by the issuance of refunding bonds in accordance with Article 6 (commencing with Section 16780) of Chapter 4 of Part 3 of Division 2 of Title 2 of the Government Code. Approval by the electors of the state for the…

All proceeds from the sale of bonds, except those derived from premiums and accrued interest, shall be available for the purpose provided in Section 7426 but shall not be available for transfer to the General Fund to pay the principal of and interest on bonds. The money in the fu…

Money in the fund may only be expended pursuant to appropriations by the Legislature. (Amended by Stats. 2001, Ch. 745, Sec. 158.5. Effective October 12, 2001. Note: This section was added by Stats. 1990, Ch. 5, and approved in Prop. 120 on June 5, 1990.)

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 l…