§ 101135 School Bond Funding Appropriation

• •Money comes from the General Fund in the State Treasury.
• •The amount equals what is needed each year for bond principal and interest.
• •It also covers the costs for Section 101138, without being limited by fiscal years.

The state sells bonds to build a new highway. Each year, money is taken from the state’s General Fund to pay the loan’s principal and interest, and also to keep the highway project going as described in Section 101138.

Because of this law, the state must always have enough cash each year to cover the bond payments and to keep the highway work funded, even if the budget year changes.