§ 53532 Bond Sale Proceeds Exemption

• •Money from selling bonds (like borrowing money) is not the same as tax money.
• •The rules about how tax money can be spent don’t apply to this bond money.
• •This law was voted on and approved by people in California in 2002.

Imagine your school sells cookies to raise money for new playground equipment.

The money from selling cookies isn’t tax money, so the school doesn’t have to follow the same strict rules as they would with tax money. They can use the cookie money freely for the playground.