§ 99066 Bond Issuance And Management

• •This law says the state can borrow money by selling special papers called bonds.
• •The rules for how these bonds work are the same as the rules for other state bonds, unless this law says something different.
• •The state has to follow the big rulebook called the 'State General Obligation Bond Law' for these bonds.

Imagine the state needs money to build new schools but doesn’t have enough cash right now.

The state can sell bonds (like IOUs) to people or companies. Those who buy the bonds lend money to the state, and the state promises to pay them back later with a little extra. The rules for how this works are the same as other state borrowing, unless this law changes something.