§ 19529 Library Bond Fund Use

Education Code·California

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Key Takeaways

•Money collected for the library district must go into the county treasury.
•This money can only be used to pay back the bonds (like a loan) and their interest.
•The county treasurer pays the bonds and interest using this money.
•Once the bonds are paid, they are canceled and kept by the treasurer.

Example

A town collects extra money from people to build a new library.

This extra money can only be used to pay back the loan for the library and nothing else. The town’s money manager pays the loan using this money and keeps the paid loan papers.

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

Official Source

View on CA.gov

§ 19529 Library Bond Fund Use

All money levied, when collected, shall be paid into the county treasury to the credit of the library district, and shall be used for the payment of principal and interest on the bonds, and for no other purpose. The principal and interest on the bonds shall be paid by the county treasurer, upon the warrant of the county auditor, out of the fund provided therefor. The county auditor shall cancel and file with the county treasurer the bonds and coupons as rapidly as they are paid. (Enacted by Stats. 1976, Ch. 1010.)

Last verified: January 23, 2026

Key Terms

money levied county treasury library district principal and interest bonds county treasurer county auditor

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 19529.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References