§ 13958 Bond Issuance And Maturity

Water Code·California

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Key Takeaways

•The state can borrow money by selling bonds to pay for big projects.
•The state has up to 50 years to pay back the money it borrows.
•Each time the state borrows money, the 50-year countdown starts over.

Example

The state needs money to build new schools.

The state can sell bonds to get the money now and has 50 years to pay it back. If they borrow more money later for another project, that new loan also has 50 years to be paid back.

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

Official Source

View on CA.gov

§ 13958 Bond Issuance And Maturity

The State General Obligation Bond Law is adopted for the purpose of the issuance, sale and repayment of, and otherwise providing with respect to, the bonds authorized to be issued by this chapter, and the provisions of that law are included in this chapter as though set out in full in this chapter except that, notwithstanding anything in the State General Obligation Bond Law, the maximum maturity of the bonds shall not exceed 50 years from the date of each respective series. The maturity of each respective series shall be calculated from the date of such series. (Added by Stats. 1977, Ch. 1160. Approved in Proposition 2 at the June 6, 1978, election.)

Last verified: January 23, 2026

Key Terms

State General Obligation Bond Law maximum maturity 50 years date of each respective series

References

Official text at leginfo.legislature.ca.gov
California Legislature. Water Code. Section 13958.

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References

Key Takeaways

Example

Key Terms

Related Statutes

References