Amortization of indebtedness
Compiled text through Sep 15, 2021
Register checked through Jul 29, 2026
No later Register activity identified in this check.
Dates and status
- Compiling agency
- Executive Department
- Text status
- Source receipt
- Compiled text through
- Sep 15, 2021
- Register checked through
- July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
- Activity status
- No later Register activity identified in this check.
- Source snapshot
- Jun 6, 2026
The retirement of indebtedness by making periodic repayments of the principal amount of the indebtedness is known as amortization. With respect to the amortization of indebtedness of the local agency to the State, representing the proceeds of a housing bond issue by the State, the accounting entries will reflect the following:
(a)The periodic provision made by the local agency for amortizing the indebtedness.
(b)The payment of the scheduled amortization into the State Housing Debt Fund.
(c)The payment of the amortization by the State Comptroller to the holders of the housing bonds.