Statute · California Education Code
Cal. Educ. Code § 42133.5 — Financial Reports and Certifications
Cal. Educ. Code § 42133.5
- Type
- Statute
- Source
- California Education Code
- Jurisdiction
- California
- Date
- 2010-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
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…
Citator
Cal. Educ. Code § 42133.5 — Financial Reports and Certifications is in force in the current edition of the Code, and nothing recorded condemns it.
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.
(c) Certificates of participation.
(d) Other debt instruments that meet both of the following criteria:
(A) They are secured by real property.
(B) They do not require the approval of the voters of the school district.