§ 14031 Bond Issuance Procedures

• •This law says that special money-borrowing rules (called 'bonds') must follow the big rulebook for how California borrows money.
• •The big rulebook has all the steps for making, selling, and paying back these bonds.
• •If this law says 'do bonds,' it really means 'do bonds the way the big rulebook says.'

Imagine your school wants to build a new playground but doesn’t have enough money right now.

The school can borrow money by selling special papers (bonds) to people, promising to pay them back later with a little extra. But the school must follow all the state’s rules for borrowing—like how to write the papers, who can buy them, and when to pay them back. This law says those same state rules apply here too.