§ 13131 Bond Payment Reserve Requirements

• •If the district still owes money on its bonds, it must follow all the rules in this law.
• •The district can't ignore the rules until all bonds are paid off or enough money is set aside to pay them.
• •The money to pay the bonds must be kept safe in a special account or reserved just for that.

Imagine a school district borrowed money to build a new school and promised to pay it back over time.

Until the school district pays back all the money it borrowed, it has to follow all the rules in this law. It can't spend the money meant for paying back the loan on something else, like new computers, until the loan is fully paid or enough money is saved up to cover it.