The people hereby find and declare that, inasmuch as the proceeds from the sale of bonds authorized by this part are not “proceeds of taxes” as that term is used in Article XIII
B of the California Constitution, the disbursement of these proceeds is not subject to the limitations imposed by that part.
Source:
Section 1179.42, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=HSC§ionNum=1179.42..