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California Education Code

§ 15253

EDC § 15253 Effective Jan 1, 1997Div. 1 · Title 1 · Part 10 · Ch. 1 · Art. 9

Statute text

View on leginfo.ca.gov
If the bonds are declared invalid or are not issued for any reason, the tax levied and collected shall, if the school district or community college district has other bonds outstanding, be retained in the interest and sinking fund of the district to meet the interest and principal falling due on the bonds. If the district has no bonds outstanding the proceeds of the tax levy shall be transferred to the general fund of the district on the order of the auditor.

Legislative history

Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.

Source: California Education Code § 15253 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.