§ 12894 Bond Tax Collection Requirements

Public Utilities Code·California

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Key Takeaways

•This law is about extra taxes for paying back special district bonds.
•These extra taxes are only for paying the bonds and their interest, nothing else.
•The taxes are collected the same way and at the same time as other district taxes.

Example

Your town borrows money by selling bonds to build a new school.

The town will add extra taxes to pay back that loan and its interest. These extra taxes can’t be used for anything else, like fixing roads or paying teachers.

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

Official Source

View on CA.gov

§ 12894 Bond Tax Collection Requirements

The taxes required to be levied and collected on account of interest, principal, and sinking fund of district bonds shall be in addition to all other taxes levied for district purposes, and shall be collected at the time and in the same manner as other district taxes are collected, and be used for no other purpose than the payment of the bonds and accruing interest. (Enacted by Stats. 1951, Ch. 764.)

Last verified: January 23, 2026

Key Terms

district bonds interest principal sinking fund district taxes

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 12894.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References