§ 59219 Bond Payment Allocation Rules

• •The law says they have to show how much money has already been used to pay off old bonds.
• •Any new money added later (except for tax cancellations or small expenses) must be used to lower the amount people have to pay back.
• •This is about making sure money is used fairly when paying off debts.

Imagine your town took a big loan to fix roads, and people are paying it back over time.

The town must show how much of the loan has already been paid. If they get extra money later, they have to use it to reduce what people still owe, not for something else.