topleft CSBA.org >  Services >  Governance Technology > 

Legal Resources | Education Code |  EC  15404  

School Facilities Improvement District; Method of Bond Payment   

arrow Previous bar Next arrow

Upon the order of the auditor, any money remaining in the interest and sinking fund of any school facilities improvement district after the payment of all bonds and coupons payable from the fund, or any money in excess of an amount sufficient to pay all unpaid bonds and coupons payable from the fund, shall be transferred to the general fund of the governing board of the school district or community college district in which the school facilities improvement district is located.

(Added by Stats. 1997, Ch. 893, Sec. 68.)