§ 15203 Bond Cancellation Authority

Education Code·California

AI SummaryVerified

The board can decide to cancel any school or community college bonds that haven't been sold, and once they do, those bonds and the original vote to issue them are no longer valid.

Key Takeaways

•The board can cancel bonds that haven't been sold.
•The cancellation must be written down in the meeting minutes.
•After cancellation, the bonds and the original vote to issue them are no longer valid.

Example

A school district tries to raise money by selling bonds, but no one buys them. The board meets, writes in the meeting notes that the unsold bonds are being canceled.

Because the board recorded the cancellation, the bonds disappear and the earlier decision to issue them is treated as if it never happened.

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

Official Source

View on CA.gov

§ 15203 Bond Cancellation Authority

If the board of supervisors deem it for the best interests of the school district or community college district named in the petition that the unsold bonds be canceled, it shall make and enter an order in the minutes of its proceedings that the unsold bonds be canceled. Upon the entry of the order the bonds and the vote by which they were authorized to be issued shall cease to be of any validity. (Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)

Last verified: January 10, 2026

Key Terms

board of supervisors unsold bonds school district community college district order vote

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 15203.

§ 15203 Bond Cancellation Authority

Education Code·California

AI SummaryVerified

§ 15203 Bond Cancellation Authority

The board can decide to cancel any school or community college bonds that haven't been sold, and once they do, those bonds and the original vote to issue them are no longer valid.

Key Takeaways

•The board can cancel bonds that haven't been sold.
•The cancellation must be written down in the meeting minutes.
•After cancellation, the bonds and the original vote to issue them are no longer valid.

Example

A school district tries to raise money by selling bonds, but no one buys them. The board meets, writes in the meeting notes that the unsold bonds are being canceled.

Because the board recorded the cancellation, the bonds disappear and the earlier decision to issue them is treated as if it never happened.

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

Official Source

View on CA.gov

§ 15203 Bond Cancellation Authority

Last verified: January 10, 2026

Key Terms

board of supervisors unsold bonds school district community college district order vote

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 15203.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References