California Statutes
§ 53508.6. — 53508.6. (Added by Stats. 2013, Ch. 477, Sec. 7.)
California·Code GOV Government Code - GOV·Div. 2.·Title 5. DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES·Part 1. PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES·Ch. 3. CHAPTER 3. Bonds·Art. 4.5. ARTICLE 4.5. General Obligation Bonds
Notwithstanding any other law, a school district or community college district may, pursuant to this article, issue bonds that do not allow for the compounding of interest and that have a maturity greater than 30 years, but not greater than 40 years, if the school district or community college district does both of the following:
(a)Complies with the requirements of subdivisions (b) and (c) of Section 15146 of the Education Code.
(b)Makes a finding that the useful life of the facility financed with the bonds that do not allow for the compounding of interest and that have a maturity greater than 30 years, but not greater than 40 years, equals or exceeds the maturity date of those bonds.
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California § 53508.6. (53508.6. (Added by Stats. 2013, Ch. 477, Sec. 7.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 2013, Ch. 477, Sec. 7. (AB 182) Effective January 1, 2014.