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HomeEducation CodeDiv. 14Pt. 70Ch. 2Art. 2§ 101134 Bond Repayment Revenue Collection

§ 101134 Bond Repayment Revenue Collection

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

§ 101134 Bond Repayment Revenue Collection

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

Key Takeaways

  • •An extra yearly sum must be collected for bond payments.
  • •The extra sum is collected the same way and at the same time as other state taxes.
  • •All officials who collect state revenue must take every step needed to get this extra money.

Example

The state issues bonds to build a new highway and needs to pay the bond owners each year.

Every year the tax office has to gather the usual taxes plus an additional sum that goes straight to paying the bond principal and interest, and they must do whatever is needed to get that extra money.

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

Official Source
View on CA.gov

§ 101134 Bond Repayment Revenue 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 November 8, 2016, by initiative Proposition 51, Sec. 3.)

Last verified: January 10, 2026

Key Terms

principalinterestbondsadditional sumrevenue collection

Related Statutes

  • § 100434 Bond Payment Revenue Collection
  • § 100634 Bond Principal And Interest Collection
  • § 101024 Bond Principal And Interest 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 101134.
View Official Source