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HomeEducation CodeDiv. 14Pt. 68.1Ch. 2Art. 2§ 100634 Bond Principal And Interest Collection

§ 100634 Bond Principal And Interest Collection

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

§ 100634 Bond Principal And Interest Collection

This law says the state must collect an extra amount of money every year, just like it collects other taxes, to pay back the main amount and interest on its bonds.

Key Takeaways

  • •An extra yearly sum must be collected for bond repayment.
  • •The extra sum is collected the same way and at the same time as other state taxes.
  • •Anyone in charge of collecting state money must do everything needed to get this extra amount.

Example

The state issued bonds to build a new highway and now has to pay back the loan plus interest each year.

Because of this law, the state will add a special yearly charge (like a tax) to its regular revenue collection so it has enough money to cover the bond payments. State workers who handle tax collection must make sure that extra charge is collected every year.

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

Official Source
View on CA.gov

§ 100634 Bond Principal And Interest Collection

There shall be collected each year and in the same manner and at the same time as other state revenue is collected, in addition to the ordinary revenues of the state, a sum in an amount required to pay the principal of, and interest on, the bonds each year. It is the duty of all officers charged by law with any duty in regard to the collection of the revenue to do and perform each and every act that is necessary to collect that additional sum. (Added by Stats. 2002, Ch. 33, Sec. 30. Approved in Proposition 47 at the November 5, 2002, election.)

Last verified: January 10, 2026

Key Terms

principalinterestbondsadditional sumrevenue collection

Related Statutes

  • § 100434 Bond Payment Revenue Collection
  • § 101024 Bond Principal And Interest Collection
  • § 101134 Bond Repayment Revenue Collection
  • § 100834 Bond Payment Revenue Collection
  • § 100525 Bond Principal And Interest Collection

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 100634.
View Official Source