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HomeWater CodeDiv. 6Pt. 3Ch. 8Art. 2§ 11714 Bond Proceeds Repayment Rules

§ 11714 Bond Proceeds Repayment Rules

Water Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 11714 Bond Proceeds Repayment Rules

This law says the department must pay back money borrowed for a construction project, plus 4% interest every year, using money from selling special bonds.

Key Takeaways

  • •The government has to pay back borrowed money plus extra (interest).
  • •The extra money is 4% of the borrowed amount every year.
  • •The money to pay it back comes from selling special bonds.

Example

Imagine the government borrows $100,000 to build a new school.

They have to pay back that $100,000 plus 4% extra every year, using money from selling special school bonds.

How to Calculate

Interest = (Borrowed Amount) × 0.04 × (Number of Years)

  1. Find out how much money was borrowed (let's call this the 'Borrowed Amount').
  2. Multiply the Borrowed Amount by 0.04 (which is the same as 4%).
  3. Multiply that result by the number of years the money was borrowed for.

The government borrows $50,000 for 3 years.

Result: Interest = 50,000 × 0.04 × 3 = $6,000

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

Official Source
View on CA.gov

§ 11714 Bond Proceeds Repayment Rules

The department shall return the appropriation made by Chapter 12 of the Statutes of 1935, or so much thereof as is used, with interest thereon at the rate of 4 percent per annum to the General Fund in the State Treasury from the proceeds of the first sale of revenue bonds issued for the construction of the project under the provisions of this part. (Amended by Stats. 1957, Ch. 1932.)

Last verified: January 11, 2026

Key Terms

appropriationChapter 12 of the Statutes of 19354 percent per annumGeneral Fund in the State Treasuryrevenue bonds

Related Statutes

  • § 11700 Department Bond Issuance Authority
  • § 11705 Central Valley Project Bonds
  • § 11706 Bond Proceeds Investment Rules
  • § 11707 Bondholder Protection Requirements
  • § 11708 Bondholder Enforcement Of Duties

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Water Code. Section 11714.
View Official Source