§ 99328 Bond Revenue Security Pledge

• •This law is about money borrowed by the government (called bonds).
• •The government promises to pay back the money with interest.
• •The payment is guaranteed by special money sources (like taxes or fees).
• •If the government doesn’t pay, the people who lent the money can take the promised money sources.

Imagine the city borrows money to build a new park.

The city promises to pay back the money using the fees from park visitors. If the city doesn’t pay, the people who lent the money can take the park fees instead.