§ 13965 Bond Payment Appropriation

Water Code·California

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Key Takeaways

•The state sets aside money to pay back bonds (like loans) issued under this law, including the interest.
•The money is also used to follow the rules in Section 13966, no matter the budget year.
•This was approved by voters in 1978.

Example

Imagine the state borrows money to build a new school.

The state must set aside money every year to pay back that loan, plus extra for interest. It also has to keep money ready for other rules in the same law, even if the budget year changes.

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

Official Source

View on CA.gov

§ 13965 Bond Payment Appropriation

There is hereby appropriated from the General Fund in the State Treasury for the purpose of this chapter such an amount as will equal the following: (a) Such 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 said principal and interest become due and payable. (b) Such sum as is necessary to carry out the provisions of Section 13966, which sum is appropriated without regard to fiscal years. (Added by Stats. 1977, Ch. 1160. Approved in Proposition 2 at the June 6, 1978, election.)

Last verified: January 23, 2026

Key Terms

General Fund principal interest bonds Section 13966

References

Official text at leginfo.legislature.ca.gov
California Legislature. Water Code. Section 13965.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References