Abstract
Assuming the low-energy excitations in the Cu-O planes to be spin-charge decoupled, we show explicitly that an interlayer coupling gives rise to processes that involve hopping of singlet bonds between adjacent layers, if the spinons are paired. On tracing out the spinons, we obtain an effective Hamiltonian for the holons. This turns out to be the model for superconducting holons proposed earlier by Wheatley, Hsu, and Anderson.