AB 1332, as introduced, Conway. General obligation bonds.
The State General Obligation Bond Law provides procedures for use in authorizing the issuance and sale of, and providing for the repayment of, state general obligation bonds.
This bill would make a technical, nonsubstantive change to a provision of the State General Obligation Bond Law.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 16722 of the Government Code is
2amended to read:
As used in this chapter, the following terms shall have
4the followingbegin delete meaningend deletebegin insert meanings,end insert unless the context otherwise
5requires:
6(a) “Board” means the state board, department, or agency
7authorized by that act to request the committee to cause bonds to
8be issued for the purpose of creating a fund that is to be expended
9by the board for the purposes specified in that act.
P2 1(b) “Bond” means a state general obligation bond issued
2pursuant to an act adopting the provisions of this chapter.
3(c) “Bond act” means the act authorizing the issuance of state
4general obligation bonds and adopting this chapter by reference.
5(d) “Committee” means the finance committee or other body
6created by that act and authorized to cause bonds to be issued by
7the adoption of a resolution or resolutions.
8(e) “Fund” means the fund created by that act, and into which
9the proceeds from the sale of the bonds are paid.
10(f) “Tender” means a term of a bond that gives the holder the
11right to have the bond purchased from the holder at a predetermined
12price prior to maturity.
O
99