California Law (Last Updated: March 4, 2014) |
Education Code - EDC |
Title 1. GENERAL EDUCATION CODE PROVISIONS |
Division 1. GENERAL EDUCATION CODE PROVISIONS |
Part 10. SCHOOL BONDS |
Chapter 12. State School Building Lease-Purchase Law of 1976 |
ARTICLE 2. Projects |
Section 17030.2.
Latest version.
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Notwithstanding any other provision to the contrary, all lease agreements shall terminate 40 years from the date of execution and title to the property covered therein shall revert to the district as though full payment had been made.
(Added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)