§ 13961 State Debt Authorization Limit

Water Code·California

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Key Takeaways

•California can borrow up to $375 million for a special project.
•The money must be used only for the purpose listed in Section 13962.
•This rule was added in 1977 and approved by voters in 1978.

Example

Imagine California needs to build new schools but doesn't have enough money right now.

The state can borrow up to $375 million to pay for building those schools, but only if the schools are the project mentioned in Section 13962.

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

Official Source

View on CA.gov

§ 13961 State Debt Authorization Limit

The committee is hereby authorized and empowered to create a debt or debts, liability or liabilities, of the State of California, in the aggregate amount of three hundred seventy-five million dollars ($375,000,000), in the manner provided in this chapter. Such debt or debts, liability or liabilities, shall be created for the purpose of providing the fund to be used for the object and work specified in Section 13962. (Added by Stats. 1977, Ch. 1160. Approved in Proposition 2 at the June 6, 1978, election.)

Last verified: January 23, 2026

Key Terms

debt or debts liability or liabilities three hundred seventy-five million dollars ($375,000,000)Section 13962

References

Official text at leginfo.legislature.ca.gov
California Legislature. Water Code. Section 13961.

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Related Statutes

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Key Takeaways

Example

Key Terms

Related Statutes

References