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HomeEducation CodeCh. 11Art. 3§ 19974 Bond Payment Revenue Collection

§ 19974 Bond Payment Revenue Collection

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

§ 19974 Bond Payment Revenue Collection

Key Takeaways

  • •The state must collect extra money every year to pay back its loans (bonds) and the interest on those loans.
  • •This extra money is collected the same way and at the same time as other state taxes and fees.
  • •State workers who collect money must make sure this extra amount is gathered.

Example

Imagine you take out a loan to buy a house. Every month, you have to pay back part of that loan plus interest.

This law says the state has to do the same thing. If the state borrows money by selling bonds, it must collect extra money from taxes or fees to pay back that loan and the interest, just like you pay your monthly mortgage.

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

Official Source
View on CA.gov

§ 19974 Bond Payment 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, and 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 which is necessary to collect that additional sum. (Added by Stats. 1988, Ch. 49, Sec. 1. Approved in Proposition 85 at the November 8, 1988, election.)

Last verified: January 23, 2026

Key Terms

principalinterestbondsadditional sum

Related Statutes

  • § 101145.5 Bond Repayment Revenue Collection
  • § 101445 Bond Payment Revenue Collection
  • § 20004 Bond Debt Service Collection
  • § 100145 Bond Repayment Revenue Collection
  • § 100434 Bond Payment Revenue Collection

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 19974.
View Official Source