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HomeHealth and Safety CodeDiv. 31Pt. 16Ch. 3§ 54012 Bond Issuance Procedures

§ 54012 Bond Issuance Procedures

Health and Safety Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 54012 Bond Issuance Procedures

Key Takeaways

  • •This law says how special money-borrowing papers (called bonds) should be made, sold, and paid back.
  • •The rules for these bonds are the same as the big state rules for borrowing money, except for a few small parts.
  • •The law was added in 2017 and approved by voters in 2018.

Example

Imagine the state wants to build a new school but doesn’t have enough money right now.

The state can sell bonds (like IOUs) to people to get the money now. This law says how they must do it—like how the IOUs should look, how they’re sold, and how the state pays the money back later. It’s like following a rulebook for borrowing money.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 54012 Bond Issuance Procedures

The bonds authorized by this part shall be prepared, executed, issued, sold, paid, and redeemed as provided in the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code), except subdivisions (a) and (b) of Section 16727 of the Government Code, and all of the provisions of that law as amended from time to time apply to the bonds and to this part, except as provided in Section 54028, and are hereby incorporated in this part as though set forth in full in this part. (Added by Stats. 2017, Ch. 365, Sec. 3. Approved in Proposition 1 at the November 6, 2018, election; effective November 7, 2018.)

Last verified: January 24, 2026

Key Terms

obligationbond lawpropositionelection

Related Statutes

  • § 53171 Bond Issuance Procedures
  • § 53202 Bond Issuance Procedures
  • § 53557 Bond Investment Earnings Management
  • § 54032 Bond Investment And Rebates
  • § 53200 State Infrastructure Bond Authorization

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Health and Safety Code. Section 54012.
View Official Source