California Statutes
§ 17457. — 17457. (Added by Stats. 1996, Ch. 277, Sec. 3.)
California·Code EDC Education Code - EDC·Div. 1.·Title 1. DIVISION 1. GENERAL EDUCATION CODE PROVISIONS·Part 10.5. PART 10.5. SCHOOL FACILITIES·Ch. 4. CHAPTER 4. Property: Sale,Lease, Exchange·Art. 4. ARTICLE 4. Sale or Lease of Real Property
Notwithstanding any other provision of this part, in connection with a sale, sale back, lease, or leaseback of school district property, no proceeds obtained by the school district from the sale of the sale back or leaseback agreement, or interests therein, or a debt instrument payable from payments under the sale back or leaseback agreement shall be used for general operating purposes of the school district.
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California § 17457. (17457. (Added by Stats. 1996, Ch. 277, Sec. 3.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1996, Ch. 277, Sec. 3. Effective January 1, 1997. Operative January 1, 1998.