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HomeHealth and Safety CodeDiv. 31Pt. 11Ch. 3§ 53526 Bond Principal And Interest Collection

§ 53526 Bond Principal And Interest Collection

Health and Safety Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 53526 Bond Principal And Interest Collection

Key Takeaways

  • •The state must collect extra money every year to pay back bonds (like loans) and the interest on them.
  • •This extra money is collected the same way and at the same time as other state taxes and fees.
  • •State workers who collect money must make sure this extra amount is gathered.

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 extra money is included.

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

Official Source
View on CA.gov

§ 53526 Bond Principal And Interest 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, and 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. 2002, Ch. 26, Sec. 8. Approved in Proposition 46 at the November 5, 2002, election.)

Last verified: January 24, 2026

Key Terms

dutyadditioncollectionpropositionelection

Related Statutes

  • § 52530 State Bond Payment Obligations
  • § 54018 Bond Payment Revenue Collection
  • § 13826 Ballot Pamphlet Requirements
  • § 32205 Hospital District Formation Election
  • § 32242 Special Assessment Election Resolution

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Health and Safety Code. Section 53526.
View Official Source