California Education Code

§ 42133.5

EDC § 42133.5 Effective Jan 1, 2010Div. 3 · Title 2 · Part 24 · Ch. 6 · Art. 3

Statute text

Regardless of the certification of the budgetary status of a school district or county office of education under subdivision (l) of Section 1240 or Section 42131, the proceeds obtained by a school district from the sources listed in subdivisions (a) to (d), inclusive, shall not be used for general operating purposes of the school district.

(a)The sale of a saleback or leaseback agreement, or interests in the agreement.

(b)A debt instrument payable from payments under a saleback or leaseback agreement.

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Legislative history

Amended by Stats. 2009, Ch. 140, Sec. 52. (AB 1164) Effective January 1, 2010.