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HomeEducation CodeDiv. 14Pt. 68Ch. 2Art. 2§ 100434 Bond Payment Revenue Collection

§ 100434 Bond Payment Revenue Collection

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

§ 100434 Bond Payment Revenue Collection

This law says the state must collect an extra amount of money every year, just like it collects other taxes, to pay back the principal and interest on its bonds.

Key Takeaways

  • •The state must gather an additional sum each year for bond repayment.
  • •The extra money is collected the same way and at the same time as other state taxes.
  • •Any officer who handles tax collection must also collect this extra amount.

Example

When a homeowner pays their yearly property tax, a portion of that payment must also go toward the special extra amount that the state uses to pay off its bonds.

The tax collector has to make sure that, in addition to the regular tax, the extra bond‑payment money is taken at the same time and in the same way, so the state can meet its bond obligations.

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

Official Source
View on CA.gov

§ 100434 Bond Payment Revenue 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. 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. 1998, Ch. 407, Sec. 16. Approved in Proposition 1A at the November 3, 1998, election.)

Last verified: January 10, 2026

Key Terms

principalinterestbondsadditional sumrevenue collection

Related Statutes

  • § 100634 Bond Principal And Interest Collection
  • § 101024 Bond Principal And Interest Collection
  • § 101134 Bond Repayment Revenue Collection
  • § 100834 Bond Payment Revenue Collection
  • § 100525 Bond Principal And Interest Collection

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 100434.
View Official Source