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HomeEducation CodeDiv. 1Pt. 11Ch. 12Art. 3§ 20005 General Fund Bond Appropriation

§ 20005 General Fund Bond Appropriation

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

§ 20005 General Fund Bond Appropriation

Key Takeaways

  • •The state sets aside money to pay back loans (bonds) it took out for special projects.
  • •This money covers both the original loan amount and the extra cost (interest) over time.
  • •The state also puts money aside for other important work, no matter the budget year.
  • •This rule was added in 1999 and approved by voters in 2000.

Example

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

The state must save money every year to pay back that loan plus extra fees (interest), just like you pay back a bank loan with interest. It also keeps extra money ready for other school needs, no matter what.

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

Official Source
View on CA.gov

§ 20005 General Fund Bond 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 20006, appropriated without regard to fiscal years. (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

General FundbondsprincipalinterestSection 20006

Related Statutes

  • § 20004 Bond Debt Service Collection
  • § 101036 Bond Payment Appropriation
  • § 101146 School Bond Funding Appropriation
  • § 101446 Bond Payment Appropriation
  • § 20009 Premium Interest Fund Reservation

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 20005.
View Official Source