Whenever a school district has applied the proceeds of a sale of local bonds to a project pursuant to subdivision (c) of Section 17032, the Director of General Services shall include in the determination of the eligible bonded debt service of the district, the amount raised or to be raised for repayment of principal and interest on that portion of the bonded indebtedness of the district generating the proceeds.
Cal. Educ. Code § 16072.5
General Provisions
Known as the State School Building Aid Law
The act spans §§ 16000–16344 (211 sections).
Repealed and added by Stats. 1996, Ch. 277, Sec. 2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.