Cal. Educ. Code § 35579
Bonded Indebtedness of School Districts
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2017
As of January 1, 2011
Any unsold bonds of an elementary, high, or unified school district which is included as a whole in a new school district through any kind of reorganization, if issued by the board of supervisors in the names of the old districts, shall be considered a liability of the new district for purposes of computing the bonding capacity of the new district when applying the State School Building Aid Law of 1952, Chapter 8 (commencing with Section 16000) of Part 10.
Any unsold bonds of an elementary, high, or unified school district that is included as a whole in a new or acquiring district through any kind of reorganization, if issued by the board of supervisors in the names of the former districts shall be considered a liability of the new or acquiring district for purposes of computing the bonding capacity of the school district when applying the State School Building Aid Law of 1952 (Chapter 6 (commencing with Section 16000) of Part 10 of Division 1 of Title 1).
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.