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AB-1550 School finance: school bonds: small school district.(2017-2018)

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Date Published: 07/13/2017 09:00 PM
AB1550:v96#DOCUMENT

Amended  IN  Senate  July 13, 2017
Amended  IN  Assembly  April 18, 2017
Amended  IN  Assembly  March 16, 2017

CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Assembly Bill No. 1550


Introduced by Assembly Member Limón

February 17, 2017


An act to add Section 15100.3 Sections 15100.3, 15267, and 15302 to the Education Code, relating to school finance.


LEGISLATIVE COUNSEL'S DIGEST


AB 1550, as amended, Limón. School finance: school bonds: small school district.
Existing law authorizes the governing board of any school district or community college district to order an election and submit to the electors of the school district or community college district, as applicable, the question whether the bonds of the district should be issued and sold for the purpose of raising money for specified purposes, including, among other things, the supplying of school buildings and grounds with furniture, equipment, or necessary apparatus of a permanent nature.
Existing law authorizes the formation of a school facilities improvement district (SFID) by a school district or community college district and provides for the issuance of bonds for that district subject to specified requirements, including voter approval.
Existing law authorizes the governing board of a school district or community college district, as an alternative to issuing bonds pursuant to the above authorities, to pursue the authorization and issuance of bonds through an election pursuant to certain provisions of the California Constitution.
Existing law, the Joint Exercise of Powers Act, generally authorizes 2 or more public agencies, by agreement, to jointly exercise any common power.
This bill would authorize 2 or more small school districts, as defined, that have voter-approved authority to issue bonds pursuant to the above provisions to form a joint powers authority pursuant to the Joint Exercise of Powers Act for the purpose of authorizing, issuing, and issuing or selling those bonds to raise money for specified purposes for the small school districts. the purposes authorized. The bill would authorize a joint powers authority formed pursuant to these provisions to exercise the authority granted to a school district under a the above specified law authority for the authorizing, issuing, issuing and selling of those bonds.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

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


SECTION 1.

 Section 15100.3 is added to the Education Code, to read:

15100.3.
 (a) Two or more small school districts that have had the issuance of bonds authorized by the voters pursuant to this chapter may form a joint powers authority in accordance with the provisions of Article 1 (commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of the Government Code for the purpose of authorizing, issuing, and issuing or selling those bonds for raising money for the purposes specified in subdivision (a) of Section 15100 for the small school districts. authorized.
(b) A joint powers authority described in subdivision (a) shall be deemed a school district for purposes of this chapter only and may exercise all authority granted to a school district under this chapter under the conditions imposed by this chapter, including that the bonds shall be authorized, issued, and sold in the same manner as provided in this chapter. chapter for the issuance and sale of bonds.
(c) Each small school district shall be responsible for its respective voter-approved bonds pursuant to this chapter. A joint powers authority formed pursuant to this section shall serve the purpose of sharing administrative costs associated with the issuance and sale of bonds and shall not otherwise affect the terms of the respective voter-approved bonds.

(c)

(d) For purposes of this section, “small school district” means a school district with fewer than 2,501 units of average daily attendance.

SEC. 2.

 Section 15267 is added to the Education Code, to read:

15267.
 (a) Two or more small school districts that have had the issuance of bonds authorized by the voters pursuant to this chapter may form a joint powers authority in accordance with the provisions of Article 1 (commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of the Government Code for the purpose of issuing or selling those bonds for raising money for the purposes authorized.
(b) A joint powers authority described in subdivision (a) shall be deemed a school district for purposes of this chapter only and may exercise all authority granted to a school district under this chapter under the conditions imposed by this chapter for the issuance and sale of bonds.
(c) Each small school district shall be responsible for its respective voter-approved bonds pursuant to this chapter. A joint powers authority formed pursuant to this section shall serve the purpose of sharing administrative costs associated with the issuance and sale of bonds and shall not otherwise affect the terms of the respective voter-approved bonds.
(d) For purposes of this section, “small school district” means a school district with fewer than 2,501 units of average daily attendance.

SEC. 3.

 Section 15302 is added to the Education Code, to read:

15302.
 (a) Two or more small school districts that have had the issuance of bonds authorized by the voters pursuant to this chapter may form a joint powers authority in accordance with the provisions of Article 1 (commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of the Government Code for the purpose of issuing or selling those bonds for raising money for the purposes authorized.
(b) A joint powers authority described in subdivision (a) shall be deemed a school district for purposes of this chapter only and may exercise all authority granted to a school district under this chapter under the conditions imposed by this chapter for the issuance and sale of bonds.
(c) Each small school district shall be responsible for its respective voter-approved bonds pursuant to this chapter. A joint powers authority formed pursuant to this section shall serve the purpose of sharing administrative costs associated with the issuance and sale of bonds and shall not otherwise affect the terms of the respective voter-approved bonds.
(d) For purposes of this section, “small school district” means a school district with fewer than 2,501 units of average daily attendance.