California Education Code

§ 67355

EDC § 67355Div. 5 · Title 3 · Part 40 · Ch. 14.5

Statute text

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 punctual payment of both principal and interest thereof. There shall be collected annually in the same manner and at the same time as other state revenue is collected a sum, in addition to the ordinary revenues of the state, as is required to pay the principal and interest on the bonds as herein provided, and it is hereby made the duty of all officers charged by law with any duty in regard to the collection of the revenue, to do and perform each and every act which is necessary to collect the additional sum.

Legislative history

Added by Stats. 1986, Ch. 424, Sec. 2. Approved in Proposition 56 at the November 4, 1986, election.