LawWiki
HomeCodesSearchGlossaryAPIAbout
LawWiki

Plain English summaries of California law with zero-hallucination AI. Every summary is verified against official source text.

Product

  • Search
  • Codes
  • About

Legal

  • Privacy Policy
  • Terms of Service
  • Disclaimer

© 2026 LawWiki. All rights reserved.

HomeEducation CodeDiv. 14Pt. 69Ch. 2Art. 2§ 101023 School Bond Issuance Authority

§ 101023 School Bond Issuance Authority

Education Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 101023 School Bond Issuance Authority

This law lets the State School Building Finance Committee decide how many bonds to issue to pay for school construction costs, based on requests from the State Allocation Board.

Key Takeaways

  • •The committee can authorize multiple bond issues over time.
  • •All bonds do not need to be sold at once; they can be sold as needed.
  • •A request must include a statement of the apportionments made or to be made.

Example

A school district needs $15 million to build a new elementary school and asks the State Allocation Board for bond funding.

The committee reviews the request, looks at the apportionment amount needed, and decides to issue $15 million in bonds to cover the cost.

How to Calculate

Bond amount = Total apportionment amount needed

  1. Determine the total apportionment amount required for the project.
  2. Set the bond amount equal to that total.
  3. Authorize and sell bonds up to that amount.

The district's apportionment for the new school is $15,000,000.

Result: 15000000

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 101023 School Bond Issuance Authority

(a) Upon request of the State Allocation Board, the State School Building Finance Committee shall determine whether or not it is necessary or desirable to issue bonds authorized pursuant to this chapter in order to fund the apportionments and, if so, the amount of bonds to be issued and sold. Successive issues of bonds may be authorized and sold to fund those apportionments progressively, and it is not necessary that all of the bonds authorized to be issued be sold at any one time. (b) A request of the State Allocation Board pursuant to subdivision (a) shall be supported by a statement of the apportionments made and to be made for the purposes described in Sections 101011 and 101012. (Added by Stats. 2006, Ch. 35, Sec. 16. Approved in Proposition 1D at the November 7, 2006, election.)

Last verified: January 10, 2026

Key Terms

State Allocation BoardState School Building Finance CommitteebondsapportionmentsSections 101011 and 101012

Related Statutes

  • § 100432 School Bond Issuance Authority
  • § 100632 School Bond Issuance Authority
  • § 100832 School Bond Issuance Authority
  • § 101133 School Bond Issuance Authority
  • § 101423 School Bond Issuance Authority

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 101023.
View Official Source