§ 37624 Bond Repayment Revenue Pledge

• •The money to pay back the bonds comes only from the money the local agency makes, like fees or charges.
• •The local agency doesn't have to use tax money or other funds to pay back these bonds.
• •If the agency can't pay back the bonds, it doesn't mean the agency is in debt or has to find more money.

A city builds a new parking garage and issues bonds to pay for it.

The money to pay back the bonds comes only from the money people pay to park in the garage. The city can't use tax money to pay back the bonds, and if the garage doesn't make enough money, the city isn't responsible for paying back the bonds.