§ 100810 School Bond Proceeds Allocation

This law says that money raised from certain bonds has to go into the 2004 State School Facilities Fund and then be handed out by the State Allocation Board.

Key Takeaways

•Bond proceeds must be deposited in the 2004 State School Facilities Fund.
•The fund was created in Section 17070.40.
•The State Allocation Board decides how the money is allocated.

Example

The state sells bonds to raise cash for new school buildings. The cash is placed in the 2004 State School Facilities Fund, and the State Allocation Board decides which schools get the money.

Because of this law, the bond money can't be used for anything else – it must go into the special school fund and be allocated by the board for school projects.

The proceeds of bonds issued and sold pursuant to Article 2 (commencing with Section 100825) shall be deposited in the 2004 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. 31. Approved in Proposition 55 at the March 2, 2004, election.)

This law says that money raised from certain bonds has to go into the 2004 State School Facilities Fund and then be handed out by the State Allocation Board.

Key Takeaways

•Bond proceeds must be deposited in the 2004 State School Facilities Fund.
•The fund was created in Section 17070.40.
•The State Allocation Board decides how the money is allocated.

Example

The state sells bonds to raise cash for new school buildings. The cash is placed in the 2004 State School Facilities Fund, and the State Allocation Board decides which schools get the money.

Because of this law, the bond money can't be used for anything else – it must go into the special school fund and be allocated by the board for school projects.

Key Takeaways

Example

Key Terms

References

§ 100810 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