Section 99050.

99050. (a) This title shall be known and may be cited as the Economic Recovery Bond Act. (b) The Legislature finds and declares that it is essential to the public welfare that an efficient, equitable, and alternative source of funding be established in order to preserve public education and critical health and safety programs that otherwise could […]

Section 99051.

99051. As used in this title, the following terms have the following meanings: (a) (1) “Accumulated state budget deficit” has the same meaning as in Section 1.3 of Article XVI of the California Constitution. (2) The amount referred to in paragraph (1) shall be as certified by the Director of Finance. (b) “Ancillary obligation” means an obligation of the […]