 |
California Law (Last Updated: March 4, 2014) |
 |
Education Code - EDC |
|
Title 2. ELEMENTARY AND SECONDARY EDUCATION |
|
Division 3. LOCAL ADMINISTRATION |
|
Part 24. SCHOOL FINANCE |
|
Chapter 1. State Financial Management and Control |
|
ARTICLE 1. Moneys Received by School Districts |
Section 41003.3.
-
(a) Consistent with the provisions of Article 4 (commencing with Section 17455) of Chapter 4 of Part 10.5 of Division 1 of Title 1, from July 1, 2008, to June 30, 2010, inclusive, the Dixon Unified School District may sell surplus real property previously used as the school farm on Sievers Road, located five miles outside of the city and which is not feasible for future school construction, together with any personal property located thereon, purchased entirely with local funds. The proceeds of the sale shall be deposited into the general fund of the school district in order to reestablish a 3-percent reserve. The remainder of the proceeds from the sale of the property that are not utilized to reestablish the 3-percent reserve shall be deposited into the capital outlay fund of the school district.
(b) In order to expend funds pursuant to subdivision (a), the district shall meet all of the following conditions:
(1) The district shall not be eligible for new construction funding for 10 years from the date that funds are deposited into the general fund of the school district pursuant to subdivision (a), except that the district may apply for new construction funds if both of the following conditions are met:
(A) At least five years have elapsed since the date upon which the sale was executed pursuant to subdivision (a).
(B) The State Allocation Board determines that the district has demonstrated enrollment growth or a need for additional sites or building construction that the district could not have easily anticipated at the time the sale was executed pursuant to subdivision (a).
(2) The governing board of the district shall complete a governance training program focusing on fiscal management provided by the County Office Fiscal Crisis and Management Assistance Team (FCMAT).
(3) Any remaining funds from the sale of the property shall be exhausted for capital outlay purposes prior to any request for modernization funding.
(4) Notwithstanding any other provision of law, the Dixon Unified School District, from July 1, 2008, to June 30, 2010, inclusive, shall not be eligible to receive financial hardship assistance pursuant to Article 8 (commencing with Section 17075.10) of Chapter 12.5 of Part 10 of Division 1 of Title 1.
(5) The district shall not be eligible to receive hardship funding from the State School Deferred Maintenance Fund pursuant to Section 17587 until all remaining funds from the sale of the property identified in, and pursuant to, subdivision (a) are exhausted for deferred maintenance or capital outlay purposes.
(6) The governing board of the district shall certify all of the following to the State Allocation Board:
(A) The district has no major deferred maintenance requirements that cannot be completed with existing capital outlay resources.
(B) The sale of the real property pursuant to this section does not violate any provisions of a local general obligation bond act.
(C) The real property sold pursuant to this section is not suitable to meet any projected school construction need for the next 10 years.
(7) Before exercising the authority granted by this section, the governing board of the district, at a regularly scheduled meeting of that board, shall present a plan for expending one-time resources pursuant to this section. The plan shall identify the source and use of the funds, and describe how the proposed use of funds, in combination with budget reductions, will address the district's deficit spending and restore the ongoing fiscal solvency of the district.
(8) No later than 10 years after the date of the sale of surplus property pursuant to subdivision (a), the district shall deposit into its capital outlay fund an amount equal to the amount of the proceeds from the sale of the property that is deposited into the district's general fund as needed to establish the 3-percent reserve in accordance with subdivision (a).
(c) This section shall remain in effect only until January 1, 2021, and as of that date is repealed, unless a later enacted statute, that is enacted before January 1, 2021, deletes or extends that date.