ARTICLE 2. Issuance of Bonds to Finance the Program [16945. - 16954.]

Article 2 added by Stats. 2004, Ch. 215, Sec. 4.

§§ 16945–16954 · 10 sections

• § 16945 The committee is authorized and empowered, for and in the name and on behalf of the state, to do all of the following: (a) Upon the request of the Director of…
• § 16946 Every issue of bonds, and any ancillary obligation entered into with respect to those bonds, shall be a debt and liability of the state payable from the…
• § 16947 (a) The cumulative amount of outstanding bonds issued pursuant to this chapter may not exceed the lesser of (1) the sum of two billion dollars…
• § 16948 (a) The resolution, certificate, or other instrument of the committee authorizing the issuance of the bonds may provide, or the committee may delegate to the…
• § 16949 The proceeds of the bonds shall be applied to the funding or refunding of pension obligations, or refunding of bonds previously issued under this chapter,…
• § 16950 When proceeds of bonds issued pursuant to this chapter are used to pay the state’s pension obligations to the retirement system for members whose compensation…
• § 16951 When proceeds of bonds issued pursuant to this chapter are used to pay the state’s pension obligations to the retirement system for members whose compensation…
• § 16952 In the discretion of the committee, any bonds issued under this chapter may be secured by a trust agreement, indenture, or resolution between the state and any…
• § 16953 The committee may provide for the issuance of bonds any portion of which is to be used for the purpose of refunding outstanding bonds issued to fund or refund…
• § 16954 The net proceeds of bonds issued and sold pursuant to this chapter shall be deposited in the Pension Obligation Bond Fund established pursuant to Section 16929.