California Statutes
§ 35561. — 35561. (Amended by Stats. 2016, Ch. 186, Sec. 10.)
California·Code EDC Education Code - EDC·Div. 3.·Title 2. DIVISION 3. LOCAL ADMINISTRATION·Part 21. PART 21. LOCAL EDUCATIONAL AGENCIES·Ch. 3. CHAPTER 3. Reorganization of School Districts—General Provisions·Art. 7. ARTICLE 7. Disposition of Records, Funds, Property, and Obligations When Reorganized
Any funds derived from the sale of the school bonds issued by the original district shall be used for the acquisition, construction, or improvement of school property only in the territory that comprised the original district or to discharge bonded indebtedness of the original district, except that, if the bonded indebtedness is assumed by the new or acquiring district, the funds may be used in any area of the new district for the purposes for which the bonds were originally voted.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 35561. (35561. (Amended by Stats. 2016, Ch. 186, Sec. 10.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 2016, Ch. 186, Sec. 10. (AB 2659) Effective January 1, 2017.