Cal. RTC § 8514
This is the official text of Cal. RTC § 8514, part of California’s Revenue and Taxation Code — governs state and local taxation, including income and property tax.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Official statutory text
(a) The bonds authorized by the voters concurrently with the approval of the tax may be issued at any time by the commission and shall be payable from the proceeds of the tax. The bonds shall be referred to as “limited tax bonds.”
The bonds may be secured by a pledge of revenues from the proceeds of the tax.
(b) The pledge of the tax to the limited tax bonds authorized under this chapter shall have priority over the use of any of the tax for “pay-as-you-go” financing, except to the extent that this priority is expressly restricted in the resolution authorizing the issuance of the bonds.
The bonds may be secured by a pledge of revenues from the proceeds of the tax.
(b) The pledge of the tax to the limited tax bonds authorized under this chapter shall have priority over the use of any of the tax for “pay-as-you-go” financing, except to the extent that this priority is expressly restricted in the resolution authorizing the issuance of the bonds.
Status: in_force · Read it on the official government site
Need a lawyer in California?
Find a California lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.