Statute · California Government Code
Cal. Gov't Code § 53508.6 — General Obligation Bonds
Cal. Gov't Code § 53508.6
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 2014-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Notwithstanding any other law, a school district or community college district may, pursuant to this article, issue bonds that do not allow for the compounding of interest and that have a maturity greater than 30 years, but not greater than 40 years, if the school district or community college…
Citator
Cal. Gov't Code § 53508.6 — General Obligation Bonds is in force in the current edition of the Code, and nothing recorded condemns it.
Notwithstanding any other law, a school district or community college district may, pursuant to this article, issue bonds that do not allow for the compounding of interest and that have a maturity greater than 30 years, but not greater than 40 years, if the school district or community college district does both of the following:
(a) Complies with the requirements of subdivisions (b) and (c) of Section 15146 of the Education Code.
(b) Makes a finding that the useful life of the facility financed with the bonds that do not allow for the compounding of interest and that have a maturity greater than 30 years, but not greater than 40 years, equals or exceeds the maturity date of those bonds.