California Education Code

§ 101423

EDC § 101423Div. 14 · Title 3 · Part 72 · Ch. 2 · Art. 2

Statute text

(a)Upon request of the State Allocation Board, the State School Building Finance Committee shall determine by resolution whether or not it is necessary or desirable to issue bonds authorized pursuant to this chapter in order to fund the related 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 Section 101412.

Legislative history

Added by Stats. 2024, Ch. 81, Sec. 28. (AB 247) Approved in Proposition 2 at the November 5, 2024, election. Effective November 6, 2024.