§ 13968 Bond Sale Authorization

• •The state can sell bonds (like IOUs) when they need money for big projects.
• •The State Treasurer decides when and how many bonds to sell.
• •This rule was added in 1977 and approved by voters in 1978.

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

The State Treasurer can sell bonds to get the money needed. People or companies buy these bonds, and the state pays them back later with a little extra (like interest).