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SB-685 School bonds: capital appreciation bonds.(2013-2014)

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CALIFORNIA LEGISLATURE— 2013–2014 REGULAR SESSION

Senate Bill
No. 685

Introduced by Senator Anderson

February 22, 2013

An act relating to school bonds.


LEGISLATIVE COUNSEL'S DIGEST


SB 685, as introduced, Anderson. School bonds: capital appreciation bonds.
Existing law authorizes the governing board of a school district or community college district to, when in its judgment it is advisable, order an election and submit to the electors of the district the question whether the bonds of the district shall be issued and sold for the purpose of raising money for specified purposes.
This bill would state the intent of the Legislature to enact legislation that prohibits a school district from issuing capital appreciation bonds.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 It is the intent of the Legislature to enact legislation that prohibits a school district from issuing capital appreciation bonds.