Code Section Group

Education Code - EDC

TITLE 1 GENERAL EDUCATION CODE PROVISIONS [1. - 32500]

  ( Title 1 enacted by Stats. 1976, Ch. 1010. )

DIVISION 1 GENERAL EDUCATION CODE PROVISIONS [1. - 32500]

  ( Division 1 enacted by Stats. 1976, Ch. 1010. )

PART 10. SCHOOL BONDS [15100 - 17199.6]

  ( Part 10 repealed and added by Stats. 1996, Ch. 277, Sec. 2. )

CHAPTER 1. Bonds of School Districts and Community College Districts [15100 - 15262]

  ( Chapter 1 added by Stats. 1996, Ch. 277, Sec. 2. )

ARTICLE 7. Purchase of Bonds by Issuing School Districts and Community College Districts [15220 - 15221]
  ( Article 7 added by Stats. 1996, Ch. 277, Sec. 2. )

15220.
  

The governing board of a school district or community college district may purchase in the open market bonds issued by the district. The cost of bonds purchased may be paid out of any funds of the district not required by law to be set aside for teachers’ salaries.

(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)

15221.
  

When any bonds issued by a district have been purchased by the governing board of the district, the bonds shall be deemed canceled and of no further validity. The governing board of the district shall immediately, after purchasing the bonds, notify the board of supervisors of its action, describing the bonds purchased. At its first meeting thereafter the board of supervisors shall note the purchase and cancellation of the bonds in the minutes of its proceedings.

(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)

EDCEducation Code - EDC7.