reglab/statecodes huggingface dataset:
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 2 - General Provisions for Bond Elections › Section 15124.

15124. If it appears from the certificate of election results that two-thirds of the votes cast on the proposition of issuing bonds of the district are in favor of issuing the bonds; or, a majority of the votes cast, if the election is held to repair, reconstruct or replace school buildings in compliance with Section 17367 or 81162 or any other provision of law, the governing board of the school district or community college shall cause an entry of that fact to be made upon its minutes. The governing board shall then certify to the board of supervisors of the county whose superintendent of schools has jurisdiction over the district, all proceedings had in the premises. The county superintendent of schools shall send a copy of the certificate of election results to the board of supervisors of the county.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 2 - General Provisions for Bond Elections › Section 15125.

15125. The proceedings relating to the authorization of bonds of a joint school district of any type need be certified only to the board of supervisors of the county whose superintendent of schools has jurisdiction over the district. The board of supervisors may issue and sell the bonds and no action of the board of supervisors of any other county in which the district is situated shall be required in connection with the issuance and sale, and the bonds need not be signed by any officer of any the other county.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 2 - General Provisions for Bond Elections › Section 15126.

15126. No error, irregularity, or omission which does not affect the substantial rights of the taxpayers within the district or the electors voting at any election at which bonds of any district are authorized to be issued shall invalidate the election or any bonds authorized.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 3 - Issuance and Sale of Bonds › Section 15140.

15140. (a) Bonds of a school district or community college district shall be offered for sale by the board of supervisors of the county, the county superintendent of which has jurisdiction over the district, or the community college district governing board, where appropriate, as soon as possible following receipt of a resolution duly adopted by the governing board of the school district or community college district. The resolution shall prescribe the total amount of bonds to be sold. The resolution may also prescribe the maximum acceptable interest rate, not to exceed 8 percent, and the time or times when the whole or any part of the principal of the bonds shall be payable, which shall not be more than 25 years from the date of the bonds.
(b) Notwithstanding subdivision (a) or another provision of this chapter, the board of supervisors of any county may provide by resolution that the governing board of any school district or community college district over which the county superintendent of schools has jurisdiction, and which has not received a qualified or negative certification in its most recent interim report, may issue and sell bonds on its own behalf pursuant to this chapter without further action of the board of supervisors or officers of that county or of any other county in which a portion of the school district or community college district is located. The county shall levy and collect taxes, pay bonds, and hold bond proceeds and tax funds pursuant to this chapter for the bonds issued and sold pursuant to this subdivision.
(c) Whenever the governing board of a school district or community college district issues bonds or refunding bonds payable from ad valorem taxes the governing board shall transmit the authorizing resolution and debt service schedule, including the debt service schedule for the bonds to be refunded, to the county auditor and county treasurer in sufficient time to permit the county to establish tax rates and necessary funds or accounts for the bonds.
(Amended by Stats. 1999, Ch. 667, Sec. 6. Effective January 1, 2000.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 3 - Issuance and Sale of Bonds › Section 15140.5.

15140.5. For purposes of this article, “bonds” means bonds, notes, warrants, or other evidence of indebtedness payable, both principal and interest, from the proceeds of ad valorem property taxes that may be levied without limitation as to rate or amount upon property subject to taxation by the governing board of the school district or community college district.
(Added by Stats. 2013, Ch. 477, Sec. 1. (AB 182) Effective January 1, 2014.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 3 - Issuance and Sale of Bonds › Section 15141.

15141. When authorized by the governing board of a school district or a community college district, bonds of a school district or a community college district may be offered for sale as a group by the board of supervisors of the county, the county superintendent of schools, or the governing board of a community college district, which has jurisdiction over the district, at a time determined by the board of supervisors following receipt of a resolution duly adopted by the governing board of the school district or community college district. The resolution shall prescribe the total amount of bonds to be sold. The resolution may also prescribe the maximum acceptable interest rate, not to exceed 8 percent, and the time or times when the whole or any part of the principal of the bonds shall be payable, which shall not be more than 25 years from the date of the bonds. Bidders shall be required to bid a lump-sum bid on all bonds as a group. If bids satisfactory to the governing board of each school district included in the group are received, the bonds offered for sale shall be awarded to the bidder whose bid will result in the lowest net interest cost for the group or for the bonds of any district included within the group. Bonds shall be issued and sold in the name of each school district or a community college district in the same manner as provided in this chapter.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 3 - Issuance and Sale of Bonds › Section 15142.

15142. The bonds shall be issued in the denomination or denominations as the board of supervisors or governing board of the community college district may prescribe.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 3 - Issuance and Sale of Bonds › Section 15143.

15143. The bonds shall not bear a rate of interest greater than 8 percent per annum, payable annually or semiannually.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 3 - Issuance and Sale of Bonds › Section 15144.

15144. The number of years the whole or any part of the bonds are to run shall not exceed 25 years, from the date of the bonds or the date of any series thereof.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 3 - Issuance and Sale of Bonds › Section 15144.1.

15144.1. The ratio of total debt service to principal for each bond series shall not exceed four to one.
(Added by Stats. 2013, Ch. 477, Sec. 2. (AB 182) Effective January 1, 2014.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 3 - Issuance and Sale of Bonds › Section 15144.2.

15144.2. A bond that allows for the compounding of interest, including, but not limited to, a capital appreciation bond, maturing more than 10 years after its date of issuance shall be subject to redemption before its fixed maturity date, with or without a premium, at any time, or from time to time, at the option of the issuer, beginning no later than the 10th anniversary of the date the bond that allows for the compounding of interest was issued.
(Added by Stats. 2013, Ch. 477, Sec. 3. (AB 182) Effective January 1, 2014.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 3 - Issuance and Sale of Bonds › Section 15144.3.

15144.3. A school district or community college district with a note issued before December 31, 2013, pursuant to Section 15150 may seek from the state board or the Chancellor of the California Community Colleges, as applicable, a one-time waiver from one or more of the requirements of Sections 2, 3, 5, and 6 of Assembly Bill 182 of the 2013–14 Regular Session, if both of the following are satisfied:
(a) The proceeds of the issuance subject to the waiver will be used only for the purpose of paying the note.
(b) The school district or community college district has provided to the state board or the Chancellor of the California Community Colleges, as applicable, an analysis from a financial adviser unaffiliated with the school district, the community college district, or the underwriter used by the school district or community college district, showing the total overall costs of the proposed bond, how the issuance is the most cost-effective method, and the reasons why the school district or community college district is unable to meet those requirements of Sections 2, 3, 5, and 6 of Assembly Bill 182 of the 2013–14 Regular Session that are the subject of the waiver.
(Added by Stats. 2013, Ch. 477, Sec. 4. (AB 182) Effective January 1, 2014.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 3 - Issuance and Sale of Bonds › Section 15145.

15145. (a) The board of supervisors by an order entered upon its minutes shall prescribe the form of the bonds. The bonds shall be signed by the chairperson of the board of supervisors, or by any other member thereof as the board of supervisors shall, by resolution adopted by a four-fifths vote of all its members, authorize and designate for that purpose, and also signed by the treasurer of the county, and shall be countersigned by the clerk of the board of supervisors or by a deputy of either of the officers. Unless the board of supervisors otherwise provides, all the signatures and countersignatures may be printed, lithographed, engraved, or otherwise mechanically reproduced except that one of the signatures or countersignatures to the bonds shall be manually affixed. Any signature may be affixed in accordance with the provisions of the Uniform Facsimile Signatures of Public Officials Act, Chapter 6 (commencing with Section 5500) of Title 1 of the Government Code. All expense incurred for the preparation, sale, and delivery of the school bonds, including but not limited to, fees of an independent financial consultant, the publication of the official notice of sale of the bonds, the preparation, printing and distribution of the official statement, the obtaining of a rating, the purchase of insurance insuring the prompt payment of interest and principal, the preparation of the certified copy of the transcript for the successful bidder, the printing of the bonds, and legal fees of independent bond counsel retained by the school district or community college district issuing the bonds are legal charges against the funds of the district issuing the bonds and may be paid from the proceeds of sale of the bonds.
(b) Notwithstanding subdivision (a), the board of supervisors may, in its discretion, determine that all of the required signatures and countersignatures shall be by facsimiles, provided, however, that the bonds shall not be valid or become obligatory for any purpose until manually signed by an authenticating agent duly appointed by the board or its authorized designee.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 3 - Issuance and Sale of Bonds › Section 15147.

15147. Before selling the bonds, or any part of them, the board of supervisors or community college district, as appropriate, shall give notice as required by Section 53692 of the Government Code.
(Amended by Stats. 2004, Ch. 7, Sec. 1.5. Effective January 22, 2004.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 3 - Issuance and Sale of Bonds › Section 15148.

15148. If satisfactory bids are received, the bonds offered for sale shall be awarded to the highest responsible bidder or bidders, and the clerk of the board of supervisors shall prepare and certify to all of the proceedings on file in his or her office relative to the issuance and sale of the bonds, which transcript of proceedings shall be delivered to the successful bidder or bidders without charge. If no bids are received, or if the board determines that the bids received exceed either the maximum acceptable interest rate prescribed by the governing board or the maximum rate prescribed by Section 15143, or that they are not satisfactory as to price or responsibility of the bidders, the board may reject all bids received, if any, and without further authorization from the governing board, either readvertise or sell the bonds at private sale.
For the purpose of determining whether or not a bid exceeds the maximum acceptable interest rate, the interest rate of that bid shall be deemed to be the interest rate resulting from the total net interest cost arrived at by computing the total amount of interest which the district would be required to pay from the date of the bonds to the respective maturity dates thereof at the rate or rates specified in the bid and by deducting therefrom any premium bid.
(Amended by Stats. 2002, Ch. 221, Sec. 10. Effective January 1, 2003.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 3 - Issuance and Sale of Bonds › Section 15149.

15149. The issuing school district or community college district by action of its governing board may prepare, or have prepared, bond brochures to serve as a prospectus for bond buyers to assist in the satisfactory sale of the bonds, the expense of the brochures to be payable out of the funds of the district. The brochures may be prepared only after the issuance of the bonds to be sold has been approved by the electors of the district pursuant to Sections 15120 to 15126, inclusive.
The issuing school district or community college district by action of its governing board may expend district funds for the purposes of advertising the availability of the bonds for purchase in any publication or newspaper which in the opinion of the governing board will give notice to prospective bond buyers that the bonds are available for purchase by bond buyers.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 4 - Required Form of Bonds › Section 15180.

15180. Whenever under Sections 15100 and 15102, and Sections 15107 to 15140, inclusive, and Sections 15142 to 15261, inclusive, any bonds are issued, the bonds may be issued either in the form of coupon bonds, or in the form of registered bonds, or some in the form of coupon bonds and some in the form of registered bonds, as may be provided in the proceedings for the issuance of the bonds, and notwithstanding any language or provision to the contrary contained in any statute authorizing the issuance of the bonds, or in any other law.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 4 - Required Form of Bonds › Section 15181.

15181. If any officer whose signature, countersignature, or attestation appears on any school bonds or coupons ceases to be an officer before the delivery of the bonds to the purchaser, the signature, countersignature, or attestation either on the bonds or the coupons, or on both, is nevertheless valid and sufficient for all purposes the same as if the officer had remained in office until the delivery of the bonds, and the signature upon the coupons of the person who is auditor at the date of the bonds, is valid although the bonds themselves may be attested by a different person who is auditor at the time of delivery of the bonds.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 4 - Required Form of Bonds › Section 15182.

15182. Any bonds executed in the manner provided by the board of supervisors shall be valid, notwithstanding any change in the officers who signed the bonds or the coupons, or in the seal of the board of supervisors, occurring after the execution.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 5 - Registration of Bonds › Section 15190.

15190. Whenever the owner of any coupon bond or of any bond payable to bearer presents the bond to the treasurer or other officer of the county in which the district is located, who by law performs the duties of treasurer, with a request for the conversion of the bond into a registered bond, the treasurer or other officer shall cut off and cancel the coupons of the coupon bond, and shall stamp, print, or write upon the coupon bond or other bond payable to the bearer, either upon its back or upon its face, as may be convenient, a statement to the effect that the bond is registered in the name of the owner and that thereafter the interest and principal of the bond are payable to the registered owner.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 5 - Registration of Bonds › Section 15191.

15191. After registration any bond may be transferred by the registered owner in person, or by attorney duly authorized, on presentation of the bond to the treasurer or other officer performing the duties of treasurer. The bond may be again registered as before, a similar statement being stamped, printed, or written thereon.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 5 - Registration of Bonds › Section 15192.

15192. The statement stamped, printed, or written upon the bond may be substantially in the following form:
(Date, giving month, day, and year.)
This bond is registered pursuant to the statute in such cases made and provided in the name of (insert name of owner) and the interest and principal thereof are hereafter payable to the owner.
Treasurer (or other officer)
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 5 - Registration of Bonds › Section 15193.

15193. After any bond has been registered as provided in this article, the principal and interest of the bond shall be payable to the registered owner.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 5 - Registration of Bonds › Section 15194.

15194. The treasurer or other officer shall keep in his or her office a book or books which shall at all times show what bonds are registered and in whose name respectively.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 6 - Cancellation of Unsold Bonds › Section 15200.

15200. If any bonds authorized under the provisions of Sections 15100 and 15102, and Sections 15107 to 15140, inclusive, and Sections 15142 to 15261, inclusive, have not been offered for sale for one year from the date of the election at which they were authorized or remain unsold for a period of six months after having been offered for sale in the manner prescribed by the board of supervisors, the governing board of the district, for which the bonds were authorized, may petition the board of supervisors that has jurisdiction of the issuance and sale of the bonds to cause the unsold bonds to be canceled.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 6 - Cancellation of Unsold Bonds › Section 15201.

15201. Upon receiving the petition, signed by a majority of the members of the governing board, the board of supervisors shall fix a time for hearing it, which shall not be more than 30 days after receipt of the petition, and shall cause a notice stating the time and place of the hearing, and the object of the petition in general terms, to be published for 10 days prior to the hearing, in a newspaper published in the school district or community college district, if there is one, and if there is no newspaper published in the school district, in a newspaper published at the county seat of the county.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 6 - Cancellation of Unsold Bonds › Section 15202.

15202. At the time and place designated in the notice, or at any subsequent time to which the hearing may be postponed, the board of supervisors shall hear any reasons that may be submitted for or against the granting of the petition.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 6 - Cancellation of Unsold Bonds › Section 15203.

15203. If the board of supervisors deem it for the best interests of the school district or community college district named in the petition that the unsold bonds be canceled, it shall make and enter an order in the minutes of its proceedings that the unsold bonds be canceled. Upon the entry of the order the bonds and the vote by which they were authorized to be issued shall cease to be of any validity.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 6 - Cancellation of Unsold Bonds › Section 15204.

15204. The governing board of any school district or community college district may petition the board of supervisors to cancel the remaining authorization of that district to issue and sell bonds resulting from any particular school bond election after the sale of at least 90 percent of the bonds authorized at the election if the amount of the remaining authorization is not more than twenty-five thousand dollars ($25,000) and in the opinion of the governing board the sale of the remaining bonds would not be economically justified. Sections 15201 and 15202 shall be applicable and at or following, the hearing provided in Section 15201 and 15202, the board of supervisors, if it determines that the public interest will be served thereby, may make and enter an order in the minutes of its proceedings that the remaining authorization be canceled. Upon the entry of the order the vote by which the remaining authorization was created shall cease to be of any validity with respect to the remaining authorization.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 6 - Cancellation of Unsold Bonds › Section 15205.

15205. For any bonds authorized at a school district election on November 5, 1991, and thereafter cancelled pursuant to this article without having been issued, the board of supervisors may order the cancellation annulled upon a finding that the issuance of the bonds is in the best interest of the district. Upon such order the district shall have the authority to issue the bonds pursuant to all of the terms and limitations of the original authorization, including the purposes for which such bonds may be issued, the maximum interest rate, and the maximum term to maturity, provided that the aggregate amount of bonds issued pursuant to such authorization does not exceed the amount originally authorized by the voters.
(Added by Stats. 1999, Ch. 667, Sec. 9. Effective January 1, 2000.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 7 - Purchase of Bonds by Issuing School Districts and Community College Districts › Section 15220.

15220. The governing board of a school district or community college district may purchase in the open market bonds issued by the district. The cost of bonds purchased may be paid out of any funds of the district not required by law to be set aside for teachers’ salaries.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 7 - Purchase of Bonds by Issuing School Districts and Community College Districts › Section 15221.

15221. When any bonds issued by a district have been purchased by the governing board of the district, the bonds shall be deemed canceled and of no further validity. The governing board of the district shall immediately, after purchasing the bonds, notify the board of supervisors of its action, describing the bonds purchased. At its first meeting thereafter the board of supervisors shall note the purchase and cancellation of the bonds in the minutes of its proceedings.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 8 - Method of Bond Payment › Section 15230.

15230. The board of supervisors by an order entered upon its minutes shall fix the time when the whole or any part of the principal of the bonds shall be payable, which shall not be more than 25 years from the date of the bonds. If the governing board of the district has prescribed in its resolution the time or times when the whole or any part of the bonds shall be payable, the times and amounts shall be fixed by the order of the board of supervisors.
Any bonds authorized at an election held after September 15, 1945, may be issued subject to call and redemption before maturity at the option of the governing board of the district. The governing board may include in its resolution a requirement that all or any part of such bonds shall be issued subject to call and redemption before maturity and the price or prices at which the bonds shall be redeemed. The board of supervisors, in its order fixing the form of the bonds and the maturities thereof, shall provide that the bonds be redeemable at the option of the governing board and at the price or prices fixed in the resolution. Bonds issued subject to call and redemption prior to maturity shall contain a recital to that effect, and no bond shall be subject to call or redemption prior to maturity unless it contains that recital. The board of supervisors in its order shall fix the method of giving notice of redemption to holders of bonds to be redeemed.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 8 - Method of Bond Payment › Section 15231.

15231. The board of supervisors at the direction of governing board of the district may divide the principal amount of bonds authorized at any election into two or more series and may fix different dates for the bonds of each series, in which event the maximum maturity date of the bonds shall be calculated from the date of each series respectively. When the issuance of bonds shall have been authorized pursuant to two or more propositions submitted at the same or different elections, all or any part of the bonds not theretofore issued may be combined and issued and sold as one or more series.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 8 - Method of Bond Payment › Section 15232.

15232. The board of supervisors may make the principal and interest of the bonds payable at the office of the treasurer of the county, or at any other place within the United States, including any office of a trustee or paying agent, which the board may designate, or at the office of the county treasurer, or at any other designated place at the option of the bondholder. The place of payment shall be specified in the bonds. The expense of paying the bonds elsewhere than at the office of the treasurer shall be a proper charge against the district to be paid out of the tax levied and collected for the payment of the bonds.
(Amended by Stats. 2001, Ch. 176, Sec. 3. Effective January 1, 2002.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 8 - Method of Bond Payment › Section 15233.

15233. (a) The principal and interest on the bonds shall be paid by the county treasurer of the county, the superintendent of schools of which has jurisdiction of the district in behalf of which the bonds were issued, at the place required by the terms of the bonds, upon presentation and surrender of warrants drawn by the county auditor in payment thereof, after he or she has canceled the bonds and coupons, or upon the receipt of the registered owner, if the bonds are registered, after a proper warrant has been drawn by the auditor, out of the fund provided for their payment.
(b) Notwithstanding subdivision (a), if the board of supervisors has designated the office of a trustee or paying agent as the place for payment of the principal and interest of the bonds, then upon receipt of moneys representing the principal and interest on those bonds, the trustee or paying agent shall be responsible for the actual payment to the bondholders and cancellation of any bonds or coupons.
(Amended by Stats. 2001, Ch. 176, Sec. 4. Effective January 1, 2002.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 8 - Method of Bond Payment › Section 15234.

15234. Any money remaining in the interest and sinking fund of any district after the payment of all bonds and coupons payable from the fund, or any money in excess of an amount sufficient to pay all unpaid bonds and coupons payable from the fund, shall be transferred to the general fund of the district upon the order of the auditor.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 8 - Method of Bond Payment › Section 15235.

15235. Any money paid into the county treasury of the county and credited to the interest and sinking fund of any district remaining after the payment of all bonds and coupons payable from the fund, or which is in excess of an amount sufficient to pay all unpaid bonds and coupons payable from the fund, shall be transferred to the special reserve fund of the school district, or designated building fund of the community college district upon the order of the auditor, and may be used only for the purpose specified in Section 42840 or in accordance with the California Community Colleges Budget and Accounting Manual and for no other purpose.
(Amended by Stats. 2010, Ch. 89, Sec. 5. (AB 2081) Effective January 1, 2011.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 9 - Tax for Payment of Bonds › Section 15250.

15250. The board of supervisors of the county, the superintendent of schools of which has jurisdiction over any district, shall annually at the time of making the levy of taxes for county purposes, levy a tax for that year upon the property in the district for the interest and redemption of all outstanding bonds of the district. The tax shall not be less than sufficient to pay the interest on the bonds as it becomes due and to provide a sinking fund for the payment of the principal on or before maturity and may include an allowance for an annual reserve, established for the purpose of avoiding fluctuating tax levies. The tax shall be sufficient to provide funds for the payment of the interest on the bonds as it becomes due and also any part of the principal and interest that is to become due before the proceeds of a tax levied at the time for making the next general tax levy may be made available for the payment of the principal and interest.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 9 - Tax for Payment of Bonds › Section 15251.

15251. (a) When collected, all taxes levied shall be paid into the county treasury of the county whose superintendent of schools has jurisdiction over the school district on behalf of which the tax was levied, to the credit of the interest and sinking fund of the school district, or community college district as designated by the California Community Colleges Budget and Accounting Manual, and shall be used for the payment of the principal and interest of the bonds and for no other purpose.
(b) Bonds issued and sold pursuant to this chapter shall be secured by a statutory lien on all revenues received pursuant to the levy and collection of the tax. The lien shall automatically attach without further action or authorization by the governing board of the school district or community college district. The lien shall be valid and binding from the time the bonds are executed and delivered. The revenues received pursuant to the levy and collection of the tax shall be immediately subject to the lien, and the lien shall automatically attach to the revenues and be effective, binding, and enforceable against the school district or community college district, its successors, transferees, and creditors, and all others asserting rights therein, irrespective of whether those parties have notice of the lien and without the need for any physical delivery, recordation, filing, or further act.
(Amended by Stats. 2015, Ch. 78, Sec. 1. (SB 222) Effective January 1, 2016.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 9 - Tax for Payment of Bonds › Section 15252.

15252. The board of supervisors of the county, the superintendent of schools which has jurisdiction over any school district, shall annually at the time of making the levy of taxes for county purposes estimate the amount of money required to meet the payment of the principal and interest on bonds of the district authorized by the electors of the district and not sold, and which the governing board of the district informs the board in their belief will be sold before the next tax levy, and the board of supervisors shall levy a tax sufficient to pay the principal and interest so estimated.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 9 - Tax for Payment of Bonds › Section 15253.

15253. If the bonds are declared invalid or are not issued for any reason, the tax levied and collected shall, if the school district or community college district has other bonds outstanding, be retained in the interest and sinking fund of the district to meet the interest and principal falling due on the bonds. If the district has no bonds outstanding the proceeds of the tax levy shall be transferred to the general fund of the district on the order of the auditor.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 9 - Tax for Payment of Bonds › Section 15254.

15254. This article shall apply only to bonds of a school district or community college district which were approved by the electors prior to July 1, 1978, and to bonded indebtedness for the acquisition or improvement of real property approved by two-thirds of the voters on or after June 4, 1986.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 10 - Tax for Payment of Bonds of School District or Community College District Located in Two or More Counties › Section 15260.

15260. In case of a district lying in two or more counties, the assessor of each of the counties in which the district lies, shall annually as soon as the county assessments have been equalized by the State Board of Equalization, certify to the board of supervisors of each of the counties in which any portion of the district is situated, the assessed value of all taxable property in the county situated in the school district or community college district. The tax shall be levied according to the ratio which the assessed value of the property in the district in any county bears to the total assessed value of the property in the district. Each board of supervisors shall levy upon the property of the district and within its own county the rate of tax that will be sufficient to raise not less than the amount needed to pay the interest and any portion of the principal of the bonds that is to become due during the year.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 10 - Tax for Payment of Bonds of School District or Community College District Located in Two or More Counties › Section 15261.

15261. The tax shall be entered upon the assessment roll and collected in the same manner as other school taxes.
The tax when collected shall be paid into the county treasury of the county. The treasurer of any county, other than the one whose superintendent of schools has jurisdiction over the school, shall, upon order of the county auditor, pay the sum collected on account of the tax into the treasury of the county whose superintendent of schools has jurisdiction over the school.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 10 - SCHOOL BONDS › CHAPTER 1 - Bonds of School Districts and Community College Districts › ARTICLE 10 - Tax for Payment of Bonds of School District or Community College District Located in Two or More Counties › Section 15262.

15262. This article shall apply only to bonds of a school district which were approved by the electors prior to July 1, 1978, and to bonded indebtedness for the acquisition or improvement of real property approved by two-thirds of the voters on or after June 4, 1986.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)