[Carry_Okie]

B) The Legislature may provide by statute for the issuance of bonds by the State or local agencies, as applicable, that are secured by the payments required by this paragraph. Proceeds of the sale of the bonds shall be applied for purposes consistent with this article, and for costs associated with the issuance and sale of the bonds.

Got it, and it was as I had surmised. Where did you get the $10 billion? Did you total the liabilities?

[calcowgirl]

Where did you get the $10 billion? Did you total the liabilities?

Yep. I added up the maintenance factor, the borrowed Prop 42 funds, etc. I pulled them from old articles. If I assume that he will continue to steal Prop 42 funds next year (as the language specifically allows), the number exceeded $10 billion. I didn't keep any of the specific numbers handy.