Highway revenues pledged for bonds
Official text rightpowerlimitif conditionlegal term
(a) Up to 25 percent of the revenues allocated to the State pursuant to Section 4 for the purposes specified in subdivision (a) of Section 2 of this article may be pledged or used by the State, upon approval by the voters and appropriation by the Legislature, for the payment of principal and interest on voter-approved bonds for such purposes issued by the State on and after November 2, 2010.
(b) Up to 25 percent of the revenues allocated to any city or county pursuant to Section 4 for the purposes specified in subdivision (a) of Section 2 of this article may be pledged or used only by any city or county for the payment of principal and interest on voter-approved bonds issued by that city or county for such purposes.
History: Sec. 6 renumbered from Sec. 5 on Nov. 2, 2010, by Prop. 22. Initiative measure.
Simplified explanation
Up to 25 percent of highway revenues allocated to the State may be pledged or used, with voter approval and legislative appropriation, to pay voter-approved state highway bonds. Up to 25 percent of a city's or county's allocation may be pledged or used only by it for its voter-approved bonds.