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POOLED MONEY INVESTMENT BD. v. UNRUH

Docket No. 23182.

153 Cal.App.3d 155 (1984)

200 Cal. Rptr. 500

POOLED MONEY INVESTMENT BOARD, Petitioner, v. JESSE UNRUH, as State Treasurer, Respondent.

Court of Appeals of California, Third District.

March 16, 1984.

Attorney(s) appearing for the Case

COUNSEL

John K. Van de Kamp, Attorney General, Richard D. Martland, Chief Assistant Attorney General, N. Eugene Hill, Assistant Attorney General, Geoffrey L. Graybill and Walter J. Wiesner, Deputy Attorneys General, for Petitioner.

C. Richard Walker, Edward B. Rogin, Stanley J. Dirks, Robert E. Freitas, David P. Granoff and Orrick, Herrington & Sutcliffe, for Respondent.

OPINION

PUGLIA, P.J.

(1a) This case presents the question whether recently enacted statutory authorization for state borrowing of money to be expended for any authorized General Fund purpose transgresses the $300,000 limitation on state indebtedness imposed by article XVI, section 1, of the California Constitution. We hold that it does.

Petitioner Pooled Money Investment...

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