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any bonds to refund any bonds originally issued under this chapter or any previously issued refunding bonds.
<br />5096.678. Notwithstanding any provision of this chapter or the
<br />State General Obligation Bond Law, if the Treasurer sells bonds
<br />pursuant to this chapter that include a bond counsel opinion to the
<br />effect that the interest on the bonds is excluded from gross income for federal tax purposes, subject to d 'g e
<br />conditions, the Treasurer may maintain separate accounts for the investment of bond proceeds and the investment
<br />earnings on those proceeds. The Treasurer may use or direct the use of those proceeds or earnings to pay any rebate,
<br />penalty, or other payment required under federal law or to take any other action with respect to the investment and use of
<br />bond proceeds required or desirable under federal law to maintain
<br />the tax-exempt status of those bonds and to obtain any other
<br />advantage under federal I~'w on behalf of the funds of this state.
<br />5096.679. (a) The Legislature hereby finds and declares that,
<br />inasmuch as the proceeds from the sale of bonds authorized by this chapter are not "proceeds of taxes" as that term is
<br />used in Article XIIIB of the California Constitution, the disbursement of these proceeds is not subject to the limitations
<br />imposed by that article.
<br />(b) Funds provided pursuant to this chapter, and any appropriation or transfer of those funds, shall not be deemed to be a
<br />transfer of funds for the purposes of Chapter 9 (commencing with Section 2780) of Division 3 of the Fish and Game Code.
<br />5096.681. Except for funds continuously appropriated by this
<br />chapter, all appropriations of funds pursuant to Section 5096.610 for purposes of the program shall be included in the
<br />Budget Bill for the 2002-03 fiscal year, and each succeeding fiscal year, for
<br />consideration by the Legislature, and shall bear the label
<br /> "California Clean Water, Clean Air, Safe Neighborhood Parks, and Coastal Protection Program Fund." The Budget Bill
<br /> section shall contain separate items for each project, each class of project, or each element of the program for which an
<br /> appropriation is made.
<br /> 5096.683. The Secretary shall provide for an annual audit of
<br /> eXpenditures from this chapter.
<br /> SEC. 2. Section 1 of this act shall take effect upon adoption by
<br /> the voters of the California Clean Water, Clean Air, Safe
<br /> Neighborhood Parks, and Coastal Protection Act of 2002, as set forth in Section 1 of this act.
<br /> SEC. 3. (a) Notwithstanding the requirements of any other
<br /> provision of law, the Secretary of State shall submit Section 1 of
<br /> this act to the voters at the March 5, 2002, primary election.
<br /> (b) The Secretary of State shall ensure the placement of Section 1 of this act on the March 5, 2002, statewide ballot, in
<br /> accordance with provisions of the Government Code and the Elections Code governing the submission of statewide
<br /> measures to the voters.
<br /> (c) The Secretary of State shall include, in the ballot pamphlets
<br /> mailed pursuant to Section 9094 of the Elections Code, the
<br /> information specified in Section 9084 of the Elections Code regarding the bond act set forth in Section 1 of this act.
<br /> SEC. 4. (a) Notwithstanding any other provision of law, with
<br /> respect to the California Clean Water, Clean Air, Safe Neighborhood Parks, and Coastal Protection Act of 2002, all ballots
<br /> of the election shall have printed thereon and in a square thereof, exclusively the words: "The California Clean Water,
<br /> Clean Air, Safe Neighborhood Parks, and Coastal Protection Act of 2002" and in the same square under those words, the
<br /> following 8-point type: "To protect rivers, lakes, and streams to improve water quality and ensure clean drinking water; to
<br /> protect beaches and coastal areas threatened by pollution; to improve air quality; to preserve open space and farmland
<br /> threatened by unplanned development; to protect wildlife habitat; to restore historical and cultural resources; to repair and
<br /> improve the safety of state and neighborhood parks; the state shall issue bonds totaling two billion six hundred million
<br /> dollars ($2,600,000,000) paid from existing funds. This program is subject to an annual independent audit. (At this point
<br /> the Attorney General may include the financial impact summary prepared pursuant to Section 9087 of the Elections Code
<br /> and Section 88003 of the Government Code.)" Opposite the square, there shall be left spaces in which the voters may
<br /> place a cross in the manner required by law to indicate whether they vote for or against the act.
<br /> (b) Where the voting in the election is done by means of voting
<br /> machines used pursuant to law in a manner that carries out the intent of this section, the use of the voting machines and
<br /> the expression of the voter's choice by means thereof are in compliance with this section.
<br /> SEE;. 5. TrliS act is an ur~¢n=y statute neoessary for the immediate preservation of the public peace, health, or safety
<br /> within the meaning of Article IV of the Constitution and shall go into immediate effect. The facts constituting the necessity
<br /> are:
<br /> In order that the California Clean Water, Clean Air, Safe
<br /> Neighborhood Parks, and Coastal Protection Act of 2002, set forth in Section 1 of this act, may be submitted for voter
<br /> approval at the earliest feasible time, it is necessary that this act take effect immediately.
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