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HomeWater CodeDiv. 7Ch. 16Art. 3§ 14034 Bond Principal And Interest Collection

§ 14034 Bond Principal And Interest Collection

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

§ 14034 Bond Principal And Interest Collection

Key Takeaways

  • •The state must collect extra money every year to pay back its loans (bonds) and the interest on them.
  • •This extra money is collected the same way and at the same time as other state taxes and fees.
  • •State workers who collect money must make sure this extra amount is gathered.

Example

Imagine you take out a loan to buy a house. Every month, you have to pay back part of that loan plus interest.

The state does the same thing. It borrows money by selling bonds, and this law says the state must collect extra money from taxes and fees to pay back those bonds and the interest, just like you pay your monthly mortgage.

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

Official Source
View on CA.gov

§ 14034 Bond Principal And Interest Collection

There shall be collected each year and in the same manner and at the same time as other state revenue is collected, in addition to the ordinary revenues of the state, a sum in an amount required to pay the principal of, and interest on, the bonds maturing each year, and it is hereby made the duty of all officers charged by law with any duty in regard to the collection of the revenue, to do and perform each and every act which shall be necessary to collect the additional sum. (Added by Stats. 1988, Ch. 45, Sec. 1. Approved in Proposition 81 at the November 8, 1988, election.)

Last verified: January 23, 2026

Key Terms

principalinterestbonds maturingadditional sum

Related Statutes

  • § 14035 Bond Payment Appropriation
  • § 12879.11 Bond Principal And Interest Collection
  • § 12879.12 Bond Payment Appropriation
  • § 14069 Bond Principal And Interest Collection
  • § 14070 Bond Payment Appropriation

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Water Code. Section 14034.
View Official Source