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HomeWater CodeDiv. 7Ch. 17Art. 3§ 14069 Bond Principal And Interest Collection

§ 14069 Bond Principal And Interest Collection

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

§ 14069 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 those loans.
  • •This extra money is collected the same way and at the same time as other state taxes and fees.
  • •State workers who collect money (like tax officials) must make sure this extra money is gathered properly.

Example

Imagine the state borrowed money to build new schools, like taking out a loan to buy a house.

Every year, the state has to collect extra money from taxes to pay back that loan, just like you pay back a little bit of your house loan every month. The people who collect taxes have to make sure this extra money is included.

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

Official Source
View on CA.gov

§ 14069 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 each year, and it is 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 is necessary to collect that additional sum. (Added by Stats. 1988, Ch. 47, Sec. 2. Approved in Proposition 83 at the November 8, 1988, election.)

Last verified: January 23, 2026

Key Terms

principalinterestbondsstate revenue

Related Statutes

  • § 14070 Bond Payment Appropriation
  • § 12879.11 Bond Principal And Interest Collection
  • § 12879.12 Bond Payment Appropriation
  • § 14035 Bond Payment Appropriation
  • § 14066 Bond Issuance Procedures

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Water Code. Section 14069.
View Official Source