§ 101233 Bond And Obligation Sales

Public Utilities Code·California

AI SummaryVerified

This law says that when a district sells bonds or notes it owns, it must sell them at the right time so the money can be used for the original purpose it was meant for.

Key Takeaways

•The district must sell bonds or notes at the right time.
•The money from selling them must go to the original purpose.
•This is to make sure money isn’t used for the wrong things.

Example

A school district buys bonds to save money for building a new school.

When the district sells those bonds later, it must sell them at a good time so the money can still be used to build the school, not for something else.

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

Official Source

View on CA.gov

§ 101233 Bond And Obligation Sales

Sales of any bonds, treasury notes, or obligations purchased and held by the district shall, from time to time, be made in season so that the proceeds may be applied to the purposes for which the money with which the bonds, treasury notes, or obligations were originally purchased was placed in the treasury of the district. (Added by Stats. 1971, Ch. 1161.)

Last verified: January 11, 2026

Key Terms

bonds treasury notes obligations district proceeds

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 101233.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References