§ 101144 Higher Education Bond Funding

Education Code·California

AI SummaryVerified

This law lets the state sell up to $2 billion in bonds (but not the part used for refunding old bonds) to fund higher‑education building projects and to pay back a special bond‑expense fund.

Key Takeaways

•Up to $2 billion of new bonds can be sold for higher‑education projects.
•Any money already used for refunding old bonds must be taken out of that $2 billion limit.
•The Treasurer sells the bonds whenever the projects need money.

Example

A state university needs $500 million to build a new science center.

The Treasurer can sell part of the $2 billion bond authority to raise the $500 million, then use that money for the science center and to reimburse the bond‑expense fund.

How to Calculate

Authorized Bond Amount = $2,000,000,000 – (Amount of refunding bonds issued)

Start with the total limit of $2 billion.
Find out how much money has already been used for refunding bonds.
Subtract the refunding‑bond amount from $2 billion.
The result is the amount of new bonds that can be sold.

The state has already issued $300 million in refunding bonds.

Result: Authorized Bond Amount = $2,000,000,000 – $300,000,000 = $1,700,000,000

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

Official Source

View on CA.gov

§ 101144 Higher Education Bond Funding

(a) Of the total amount of bonds authorized to be issued and sold pursuant to Chapter 1 (commencing with Section 101110), bonds in the total amount of two billion dollars ($2,000,000,000), not including the amount of any refunding bonds issued in accordance with Section 101149, or so much thereof as is necessary, may be issued and sold to provide a fund to be used for carrying out the purposes expressed in this chapter and to reimburse the General Obligation Bond Expense Revolving Fund pursuant to Section 16724.5 of the Government Code. (b) Pursuant to this section, the Treasurer shall sell the bonds authorized by the Higher Education Facilities Finance Committee established pursuant to Section 67353 at any different times necessary to service expenditures required by the apportionments. (Added November 8, 2016, by initiative Proposition 51, Sec. 3.)

Last verified: January 10, 2026

Key Terms

bonds two billion dollars ($2,000,000,000)General Obligation Bond Expense Revolving Fund Higher Education Facilities Finance Committee

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 101144.

§ 101144 Higher Education Bond Funding

Education Code·California

AI SummaryVerified

§ 101144 Higher Education Bond Funding

This law lets the state sell up to $2 billion in bonds (but not the part used for refunding old bonds) to fund higher‑education building projects and to pay back a special bond‑expense fund.

Key Takeaways

•Up to $2 billion of new bonds can be sold for higher‑education projects.
•Any money already used for refunding old bonds must be taken out of that $2 billion limit.
•The Treasurer sells the bonds whenever the projects need money.

Example

A state university needs $500 million to build a new science center.

The Treasurer can sell part of the $2 billion bond authority to raise the $500 million, then use that money for the science center and to reimburse the bond‑expense fund.

How to Calculate

Authorized Bond Amount = $2,000,000,000 – (Amount of refunding bonds issued)

Start with the total limit of $2 billion.
Find out how much money has already been used for refunding bonds.
Subtract the refunding‑bond amount from $2 billion.
The result is the amount of new bonds that can be sold.

The state has already issued $300 million in refunding bonds.

Result: Authorized Bond Amount = $2,000,000,000 – $300,000,000 = $1,700,000,000

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

Official Source

View on CA.gov

§ 101144 Higher Education Bond Funding

Last verified: January 10, 2026

Key Terms

bonds two billion dollars ($2,000,000,000)General Obligation Bond Expense Revolving Fund Higher Education Facilities Finance Committee

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 101144.

Key Takeaways

Example

How to Calculate

Key Terms

Related Statutes

References

Key Takeaways

Example

How to Calculate

Key Terms

Related Statutes

References