California § 18561 - The tax shall not be less than sufficient to pay the interest of the bonds for th
Full text of California Public Contract Code - PCC § 18561 — The tax shall not be less than sufficient to pay the interest of the bonds for th, with citation guidance and answers to common questions.
§ 18561. The tax shall not be less than sufficient to pay the interest of the bonds for th
The tax shall not be less than sufficient to pay the interest of the bonds for that year, and such portion of the principal as is to become due during the year. In any event the tax shall be high enough to raise, annually, for the first half of the term the bonds have to run, a sufficient sum to pay the interest thereon, and, during the balance of the term, high enough to pay the annual interest, and to pay annually, a proportion of the principal of the bonds equal to a sum produced by taking the whole amount of the bonds outstanding and dividing it by the number of years the bonds then have to run.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 18561
What does Public Contract Code - PCC § 18561 cover?
Section 18561 ("The tax shall not be less than sufficient to pay the interest of the bonds for th") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 18561?
A common citation format is "Public Contract Code - PCC § 18561" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 18561 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.