For the purpose of determining the limitation of indebtedness of a school facilities improvement district under Section 15330 or 15332, that portion of the bonded indebtedness of the school facilities improvement district for which another district or territory in another district is liable shall be excluded and shall not be deemed to constitute outstanding bonded indebtedness of the school facilities improvement district.
(Added by Stats. 1996, Ch. 277, Sec. 2. Operative January 1, 1998.)
Reference:
Education Code 15330
Education Code 15332