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HomeEducation CodeDiv. 14Pt. 68Ch. 2Art. 2§ 100435 Bond Payment Appropriation

§ 100435 Bond Payment Appropriation

Education Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 100435 Bond Payment Appropriation

This law says the state will set aside enough money each year from the General Fund to pay back the bonds it sells and to fund the program in Section 100440, no matter what fiscal year it is.

Key Takeaways

  • •Money comes from the General Fund in the State Treasury.
  • •The amount taken each year equals what is needed to pay the bond principal and interest.
  • •It also covers the costs for Section 100440, and it isn’t limited by fiscal‑year boundaries.

Example

The state sells bonds to build a new highway. Every year, the state takes money from the General Fund to cover the loan payments (principal and interest) and also to pay for the highway‑maintenance program described in Section 100440.

Because of this law, the money needed for the loan payments and the highway program is automatically taken from the General Fund each year, so the state can keep the project going without waiting for a separate budget approval.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 100435 Bond Payment Appropriation

Notwithstanding Section 13340 of the Government Code, there is hereby appropriated from the General Fund in the State Treasury, for the purposes of this chapter, an amount that will equal the total of the following: (a) The sum annually necessary to pay the principal of, and interest on, bonds issued and sold pursuant to this chapter, as the principal and interest become due and payable. (b) The sum necessary to carry out Section 100440, appropriated without regard to fiscal years. (Added by Stats. 1998, Ch. 407, Sec. 16. Approved in Proposition 1A at the November 3, 1998, election.)

Last verified: January 10, 2026

Key Terms

General FundState TreasurybondsprincipalinterestSection 100440Proposition 1A

Related Statutes

  • § 101025 Bond Payment Appropriations
  • § 101135 School Bond Funding Appropriation
  • § 100530 Bond Payment Appropriations
  • § 100434 Bond Payment Revenue Collection
  • § 100634 Bond Principal And Interest Collection

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 100435.
View Official Source