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HomeElections CodeDiv. 19Ch. 3Art. 5§ 19261 Bond Issuance For Projects

§ 19261 Bond Issuance For Projects

Elections Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 19261 Bond Issuance For Projects

This law says the state can sell bonds (like borrowing money) to pay for big projects, but only if the Governor approves. They don’t have to borrow all the money at once—they can do it in small chunks over time.

Key Takeaways

  • •The state can borrow money (sell bonds) for big projects, but only if the Governor approves.
  • •They don’t have to borrow all the money at once—they can do it in small parts over time.
  • •This helps the state pay for big things like roads, schools, or parks without spending all the money upfront.

Example

Imagine your town wants to build a new park but doesn’t have enough money right now.

The town can ask the state for permission to borrow money little by little, like taking out small loans over time, instead of borrowing all the money at once. The Governor has to say it’s okay first.

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

Official Source
View on CA.gov

§ 19261 Bond Issuance For Projects

Upon request of the board, supported by a statement of its plans and projects approved by the Governor, the committee shall determine whether to issue any bonds authorized under this article in order to carry out the board’s plans and projects and, if so, the amount of bonds to be issued and sold. Successive issues of bonds may be authorized and sold to carry out these plans and projects progressively, and it is not necessary that all of the bonds be issued or sold at any one time. (Added by renumbering Section 19240 by Stats. 2013, Ch. 602, Sec. 59. (SB 360) Effective January 1, 2014. Note: This section (as originally numbered) was added by Stats. 2001, Ch. 902, and approved in Prop. 41 on March 5, 2002.)

Last verified: January 10, 2026

Key Terms

bondsboard’s plans and projectsGovernorsuccessive issues

Related Statutes

  • § 19251 Bond Issuance State Law
  • § 19258 Bond Payment Appropriation
  • § 19262 Bond Sale Authorization Rules
  • § 19264 Bond Refunding Authorization
  • § 19266 Bond Proceeds Tax Exemption

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Elections Code. Section 19261.
View Official Source