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HomeEducation CodeDiv. 14Pt. 68.1Ch. 3Art. 5§ 100730 Bond Payment Appropriation

§ 100730 Bond Payment Appropriation

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

§ 100730 Bond Payment Appropriation

This law tells the state to set aside money each year from the General Fund to pay back the bonds it sells and to fund the program in Section 100745, no matter what fiscal year it is.

Key Takeaways

  • •Money comes from the General Fund in the State Treasury.
  • •The amount equals what is needed each year to pay bond principal and interest.
  • •It also covers the costs of Section 100745, regardless of fiscal year boundaries.
  • •Payments are made as soon as the bond principal or interest is due.

Example

The state sells bonds to build a new highway. Every year, money is taken from the state treasury to pay the loan and interest on those bonds, and also to keep the highway‑maintenance program (Section 100745) running, even if the budget year changes.

Because of this law, the state must always have enough cash on hand to cover the bond payments and the highway program, without waiting for a new budget cycle.

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

Official Source
View on CA.gov

§ 100730 Bond Payment Appropriation

Notwithstanding Section 13340 of the Government Code, there is hereby appropriated from the General Fund in the State Treasury, for the purposes of this chapter, an amount that will equal the total of the following: (a) The sum annually necessary to pay the principal of, and interest on, bonds issued and sold pursuant to this chapter, as the principal and interest become due and payable. (b) The sum necessary to carry out Section 100745, appropriated without regard to fiscal years. (Added by Stats. 2002, Ch. 33, Sec. 30. Approved in Proposition 47 at the November 5, 2002, election.)

Last verified: January 10, 2026

Key Terms

General FundbondsSection 100745Proposition 47

Related Statutes

  • § 100930 General Fund Bond Appropriation
  • § 100530 Bond Payment Appropriations
  • § 100700 Bond Authorization Amount
  • § 100720 Bond Issuance Authorization Limits
  • § 100725 Bond Payment Revenue Collection

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 100730.
View Official Source