Education Code - EDC
TITLE 2. ELEMENTARY AND SECONDARY EDUCATION [33000 - 65001]
( Title 2 enacted by Stats. 1976, Ch. 1010. ) DIVISION 3. LOCAL ADMINISTRATION [35000 - 45500]
( Division 3 enacted by Stats. 1976, Ch. 1010. ) PART 21. LOCAL EDUCATIONAL AGENCIES [35000 - 35787]
( Part 21 enacted by Stats. 1976, Ch. 1010. ) CHAPTER 3. Reorganization of School Districts—General Provisions [35500 - 35586]
( Chapter 3 repealed and added by Stats. 1980, Ch. 1192, Sec. 2. ) ARTICLE 8. Bonded Indebtedness of School Districts [35570 - 35579]
( Article 8 added by Stats. 1980, Ch. 1192, Sec. 2. ) 35577.
Whenever a school district having authorized but unsold bonds is completely divided between two or more new or acquiring districts so that the original district ceases to exist, pursuant to any provision of this chapter, the board of supervisors shall, before the date the action is effective for the purposes of Section 35534, make and enter an order in the minutes of its proceedings that the authorization to issue the unsold bonds be divided between each new or acquiring district in the ratio that the assessed valuation of the reorganized territory included in each school district bears to the total assessed valuation of the former district. The bonds, if issued by any new or acquiring district, shall be considered a liability of the school 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).
(Amended by Stats. 2016, Ch. 186, Sec. 17. (AB 2659) Effective January 1, 2017.)