§ 81937 Bond Security And Redemption

• •The board can use money or property they own to pay back bonds (like loans) and the interest on those bonds.
• •They can only use money or property that isn’t already set aside for something else.
• •This helps make sure the board can pay back the money they borrowed.

Imagine the board borrowed money to build a new school. They promised to pay it back with interest.

The board can use extra money they have, like donations or money from selling old property, to pay back the loan and the interest. But they can’t use money that’s already meant for something else, like teacher salaries.