§ 53531 Bond Premium Fund Transfers

• •Money from bond sales and interest must stay in a special fund.
• •This money can later be moved to the General Fund to help pay for bond interest.
• •The rule was added in 2002 and approved by voters.

The government sells bonds to raise money for building schools.

The money from selling those bonds, plus any interest earned, must be kept in a special fund. Later, this money can be moved to the General Fund to help pay the interest on those bonds.