California Law (Last Updated: March 4, 2014) |
Government Code - GOV |
Title 2. GOVERNMENT OF THE STATE OF CALIFORNIA |
Division 4. FISCAL AFFAIRS |
Part 3. STATE BONDS |
Chapter 4. State General Obligation Bonds |
ARTICLE 6. Refunding Bonds |
Section 16785.
Latest version.
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Refunding bonds shall be valid and binding obligations of the State of California, and the full faith and credit of the State of California shall be pledged for the punctual payment of the principal of and interest on the bonds as the principal and interest become due and payable.
(Added by Stats. 1987, Ch. 1030, Sec. 3.)