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HomeEducation CodeCh. 14.5§ 67356 Bond Payment Appropriation

§ 67356 Bond Payment Appropriation

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

§ 67356 Bond Payment Appropriation

Key Takeaways

  • •The state sets aside money to pay back loans (bonds) it took out, including the extra cost (interest).
  • •The money is also used for a specific project mentioned in another part of the law (Section 67357).
  • •This money is always available, no matter the time of year.

Example

Imagine you take a loan to buy a house. You have to pay back the loan plus extra money (interest) every month.

This law is like the state promising to always have money ready to pay back its loan (bonds) plus the extra cost, just like you pay your monthly mortgage.

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

Official Source
View on CA.gov

§ 67356 Bond Payment Appropriation

There is hereby appropriated from the General Fund in the State Treasury for the purpose of this chapter, an amount that will equal the following: (a) The sum annually as will be necessary to pay the principal of and the interest on the bonds issued and sold pursuant to the provisions of this chapter, as the principal and interest become due and payable. (b) The sum as is necessary to carry out Section 67357, which sum is appropriated without regard to fiscal years. (Added by Stats. 1986, Ch. 424, Sec. 2. Approved in Proposition 56 at the November 4, 1986, election.)

Last verified: January 23, 2026

Key Terms

general fundpropositionstate treasuryelection

Related Statutes

  • § 67357 Bond Fund Withdrawal Authority
  • § 67351 Bond Issuance Procedures
  • § 67354.5 Community College Equipment Loans
  • § 67355 State Bond Payment Obligations
  • § 67340 Bond Fund Withdrawal Authority

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 67356.
View Official Source