California · Public Utilities Code - PUC

PUC §12894: The taxes required to be levied and collected on account of interest, principal, and sinking fund of district bonds shall be in addition to all other taxes levied for district purposes, and shall be c

What this law says, in plain English

Taxes levied to pay district bond interest, principal, and sinking fund obligations are separate from and in addition to other district taxes.

Read the full statutory text

The taxes required to be levied and collected on account of interest, principal, and sinking fund of district bonds shall be in addition to all other taxes levied for district purposes, and shall be collected at the time and in the same manner as other district taxes are collected, and be used for no other purpose than the payment of the bonds and accruing interest.

Verify at the official source: California legislative text

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