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HomeEducation CodeDiv. 14Pt. 69Ch. 4Art. 4§ 101054 Bond Payment Appropriation

§ 101054 Bond Payment Appropriation

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

§ 101054 Bond Payment Appropriation

This law tells the state to set aside money each year from the General Fund to pay back any bonds it sells and to fund the program in Section 101057, no matter what the fiscal year is.

Key Takeaways

  • •Money comes from the General Fund in the State Treasury.
  • •The amount equals what is needed each year to pay bond principal and interest.
  • •It also covers the costs for Section 101057, without being limited by fiscal years.

Example

The state sells bonds to build a new highway. Every year, money is taken from the state treasury to pay the loan and interest on those bonds, and also to fund the highway maintenance program required by Section 101057.

Because of this law, the state must make sure there is enough cash each year to cover the bond payments and the extra program, even if the budget year changes.

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

Official Source
View on CA.gov

§ 101054 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 101057, appropriated without regard to fiscal years. (Added by Stats. 2006, Ch. 35, Sec. 16. Approved in Proposition 1D at the November 7, 2006, election.)

Last verified: January 10, 2026

Key Terms

General FundbondsSection 101057Proposition 1D

Related Statutes

  • § 101058 University Bond Interest Transfers
  • § 101050 Bond Issuance For Funding
  • § 101052 Higher Education Bond Authorization
  • § 101053 Bond Principal And Interest Collection
  • § 101057 Higher Education Bond Withdrawals

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 101054.
View Official Source