§ 101024 Bond Principal And Interest Collection
This law requires the state to collect extra money every year to pay back the principal and interest on bonds, using the same collection process as other state revenues, and all revenue officials must help gather that money.
The state sold bonds to build a new hospital. Each year the state must gather enough tax money to cover the hospital bond's principal and interest payments.
The state treasurer orders agencies to add an additional collection target to their regular revenue schedules so that the bond debt is repaid on time.
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§ 101024 Bond Principal And Interest Collection
Last verified: January 10, 2026