2007 California Government Code Article 3.5. Proceeds Of Taxes

CA Codes (gov:53715)

53715.  As used in Article XIIIB of the California Constitution, the
term "proceeds of taxes" does not include the proceeds from the sale
of bonds, notes, warrants or other obligations required for the
purpose of financing or refinancing the acquisition, construction, or
completion of public improvements or projects or any rents, charges,
assessments, or levies, other than tax levies, made pursuant to law,
the proceeds of which are required for the payment of principal and
interest, or to otherwise secure such obligations, and to pay the
costs and expenses associated therewith.