Art. XIII B, § 7
Bonded debt obligations protected
Structure
Taxes, Money & Commerce
Art. XIII B · Government Spending Limitation
Official text rightpowerlimitif conditionlegal term
Nothing in this Article shall be construed to impair the ability of the State or of any local government to meet its obligations with respect to existing or future bonded indebtedness.
History: Sec. 7 added Nov. 6, 1979, by Prop. 4. Initiative measure.
Simplified explanation
Nothing in this article is to be construed to impair the ability of the State or any local government to meet its obligations on existing or future bonded indebtedness.