§ 5890 Bond Tax Levy Requirements

• •Bonds are the county’s debt and must be paid back.
• •The board must set a yearly tax to cover bond interest and the principal that’s due before the next tax setting.
• •The tax keeps coming until the bonds are fully paid or the county has enough money saved to cover all future payments.

The county borrows money by selling bonds to build a new library.

Each year the county’s board of supervisors adds a property tax that covers the interest on those bonds and the slice of the loan that has to be paid back before the next tax setting, so the library project stays funded and the debt gets paid off over time.