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Legal Resources | Education Code |  EC  16072.5  

State School Building Aid Law of 1952. General Provisions   

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Whenever a school district has applied the proceeds of a sale of local bonds to a project pursuant to subdivision (c) of Section 17032, the Director of General Services shall include in the determination of the eligible bonded debt service of the district, the amount raised or to be raised for repayment of principal and interest on that portion of the bonded indebtedness of the district generating the proceeds.

(Added by Stats. 1996, Ch. 277, Sec. 2. Operative January 1, 1998.)

Reference:

Education Code 17032