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HomeEducation CodeDiv. 5Pt. 40Ch. 14.3Art. 3§ 67338 Bond Payment Revenue Collection

§ 67338 Bond Payment Revenue Collection

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

§ 67338 Bond Payment Revenue Collection

Key Takeaways

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

Example

Imagine the state borrows money to build a new school, like taking out a loan.

The state has to collect extra money from taxes every year to pay back that loan plus interest, just like you’d pay back a bank loan with extra money.

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

Official Source
View on CA.gov

§ 67338 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. 44, Sec. 1. Approved in Proposition 78 at the November 8, 1988, election.)

Last verified: January 23, 2026

Key Terms

dutyadditioncollectionpropositionelection

Related Statutes

  • § 67355 State Bond Payment Obligations
  • § 67335 State Education Bond Authorization
  • § 67336 Bond Issuance Procedures
  • § 67340 Bond Fund Withdrawal Authority
  • § 67347.1 Bond Issuance And Administration

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 67338.
View Official Source