California Law (Last Updated: March 4, 2014) |
Education Code - EDC |
Title 2. ELEMENTARY AND SECONDARY EDUCATION |
Division 3. LOCAL ADMINISTRATION |
Part 21. LOCAL EDUCATIONAL AGENCIES |
Chapter 3. Reorganization of School Districts—General Provisions |
ARTICLE 8. Bonded Indebtedness of School Districts |
Section 35579.
Latest version.
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Any unsold bonds of an elementary, high, or unified school district which is included as a whole in a new school district through any kind of reorganization, if issued by the board of supervisors in the names of the old districts, shall be considered a liability of the new district for purposes of computing the bonding capacity of the new district when applying the State School Building Aid Law of 1952, Chapter 8 (commencing with Section 16000) of Part 10.
(Added by Stats. 1980, Ch. 1192, Sec. 2.)