Public Resources Code section 32103

Except as otherwise expressly provided by the authority, every issue of its bonds shall be general obligations of the authority payable from any revenues or moneys of the authority available therefor and not otherwise pledged, including the proceeds of additional bonds, subject only to any agreements with the holders of particular bonds, notes, or other obligations pledging any particular revenues or moneys and subject to any agreements with holders of particular bonds pledging any particular revenues. Notwithstanding that the bonds may be payable from a special fund, they shall be deemed to be negotiable instruments for all purposes, subject only to the bond registration provisions.

Source: Section 32103, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=PRC§ionNum=32103.­ (updated Jan. 1, 2007; accessed Jun. 30, 2025).

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Verified:
Jun. 30, 2025

§ 32103's source at ca​.gov