§ 100610 School Bond Proceeds Allocation

This law says that money raised from certain bonds must be put into the 2002 State School Facilities Fund and then handed out by the State Allocation Board.

Key Takeaways

•Money from bonds covered by Article 2 (starting at Section 100625) goes into a special school fund.
•The fund is called the 2002 State School Facilities Fund and was created in Section 17070.40.
•The State Allocation Board decides how the money in that fund is spent.

Example

A town sells bonds to help pay for a new elementary school building.

The cash the town gets from selling those bonds goes straight into the 2002 State School Facilities Fund, and the State Allocation Board decides how that money will be used for school projects.

The proceeds of bonds issued and sold pursuant to Article 2 (commencing with Section 100625) shall be deposited in the 2002 State School Facilities Fund, which is established in Section 17070.40, and shall be allocated by the State Allocation Board pursuant to this chapter. (Added by Stats. 2002, Ch. 33, Sec. 30. Approved in Proposition 47 at the November 5, 2002, election.)

This law says that money raised from certain bonds must be put into the 2002 State School Facilities Fund and then handed out by the State Allocation Board.

Key Takeaways

•Money from bonds covered by Article 2 (starting at Section 100625) goes into a special school fund.
•The fund is called the 2002 State School Facilities Fund and was created in Section 17070.40.
•The State Allocation Board decides how the money in that fund is spent.

Example

A town sells bonds to help pay for a new elementary school building.

The cash the town gets from selling those bonds goes straight into the 2002 State School Facilities Fund, and the State Allocation Board decides how that money will be used for school projects.

Key Takeaways

Example

Key Terms

References

§ 100610 School Bond Proceeds Allocation

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References