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SB-543 Bonds: school districts and community college districts.(2023-2024)



Current Version: 02/15/23 - Introduced

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SB543:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2023–2024 REGULAR SESSION

Senate Bill
No. 543

Introduced by Senator Ashby

February 15, 2023

An act to amend Section 15140.5 of the Education Code, relating to school bonds.


LEGISLATIVE COUNSEL'S DIGEST


SB 543, as introduced, Ashby. Bonds: school districts and community college districts.
Existing law authorizes bonds of a school district or community college district to be offered for sale by the board of supervisors of the county, the county superintendent of schools who has jurisdiction over the district, or the community college district governing board in accordance with a prescribed procedure. Existing law defines “bonds” for these purposes.
This bill would make a nonsubstantive change to that definition.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

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


SECTION 1.

 Section 15140.5 of the Education Code is amended to read:

15140.5.
 For purposes of this article, “bonds” means bonds, notes, warrants, or other evidence of indebtedness payable, both principal and interest, from the proceeds of ad valorem property taxes that may be levied without limitation as to rate or amount upon property subject to taxation by the governing board of the school district or the governing board of the community college district.