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.
Cal. Educ. Code § 15220
Purchase of Bonds by Issuing School Districts and Community College Districts
Repealed and added by Stats. 1996, Ch. 277, Sec. 2
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.