§ 20004 Bond Debt Service Collection

Education Code·California

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Key Takeaways

•The state must collect extra money every year to pay back bonds (like loans) and their interest.
•This extra money is collected the same way and at the same time as other state taxes.
•State workers in charge of collecting taxes must make sure this extra money is collected.

Example

Imagine the state borrows money to build new schools, like taking out a loan to buy a house.

Every year, the state has to collect extra money from taxes to pay back that loan, just like you pay back a little bit of your house loan every month. The people who collect taxes have to make sure this happens.

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

Official Source

View on CA.gov

§ 20004 Bond Debt Service 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 that is necessary to collect that additional sum. (Added by Stats. 1999, Ch. 726, Sec. 1. Approved in Proposition 14 at the March 7, 2000, election.)

Last verified: January 23, 2026

Key Terms

principal interest bonds ordinary revenues additional sum

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 20004.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References