§ 29103 District Bond Sale Proceeds

Public Utilities Code·California

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Key Takeaways

•The district can sell bonds or notes they own.
•They must sell them at the right time to get money for what they were originally bought for.
•The money from selling must be used for the same purpose it was meant for.

Example

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

If the district sells those bonds later, they must use the money they get from the sale to build the new school, not for something else like buying computers.

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

Official Source

View on CA.gov

§ 29103 District Bond Sale Proceeds

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. 1957, Ch. 1056.)

Last verified: January 23, 2026

Key Terms

bonds treasury notes obligations district proceeds

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 29103.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References