§ 9459 Bond Payment From Fund

• •The state has a special fund to pay back money it borrowed using bonds.
• •When a bond or its interest payment is due, the state must pay the person who owns it.
• •The state only pays if the bond was officially sold or given out by the board in charge.

Imagine you lend your friend $100, and they promise to pay you back in a year with a little extra.

The state does something similar with bonds. If someone buys a bond from the state, the state must pay them back when the time is up, just like your friend should pay you back.