§ 20009 Premium Interest Fund Reservation

• •Money from bond sales and interest must stay in a special fund.
• •This money can be moved to the General Fund to help pay for bond interest.
• •The rule was added in 1999 and approved by voters in 2000.

The government sells bonds to raise money for building schools.

The money from selling those bonds, plus any interest earned, goes into a special fund. Later, this money can be used to help pay the interest on those bonds.