School Facilities Improvement District; Tax for Payment of Bonds
All taxes levied, when collected, shall be paid into the county treasury of the county whose superintendent of schools has jurisdiction over the school district or community college district in which the school facilities improvement district is located and on behalf of which the tax was levied. All collected tax revenues shall be used exclusively for the payment of the principal and interest of the bonds of the school facilities improvement district, including any sinking fund.
(Added by Stats. 1997, Ch. 893, Sec. 74.)