Section 13839 Of Chapter 10.2. California Safe Drinking Water Bond Law Of 1984 From California Water Code >> Division 7. >> Chapter 10.2.
13839
. All bonds authorized, which have been duly sold and
delivered pursuant to this chapter, shall constitute valid and
legally binding general obligations of the State of California, and
the full faith and credit of the State of California is hereby
pledged for the punctual payment of both principal and interest
thereon.
There shall be collected annually in the same manner, and at the
same time as other state revenue is collected, a sum, in addition to
the ordinary revenues of the state, that is required to pay the
principal and interest on the bonds, and it is hereby made the duty
of all officers charged by law with any duty in regard to the
collection of that revenue, to do and perform each and every act
which shall be necessary to collect that additional sum.
All money deposited in the fund which has been derived from
premium on bonds sold is available for transfer to the General Fund
as a credit to expenditures for bond interest.