Cal. Code Regs. tit. 2 § 1859.90.5

Current through Register 2024 Notice Reg. No. 24, June 14, 2024

Section 1859.90.5 - Local Bond Reimbursement Fund Releases

When a school district uses local bond funds to make eligible project expenditures authorized in the Leroy F. Greene Act and state school bond funds are made available to reimburse the state's share of those eligible project expenditures, the reimbursement funds shall be used as follows:

(a) Toward retiring the local bonds; and/or

(b) Toward uses permitted by the local bond, or

(c) For any high priority capital outlay expenditure in the district as permitted in Education Code Section 17070.63(c).

The use of the reimbursement funds in accordance with this section shall be subject to oversight by the applicable county office of education pursuant to Education Code Section 1240.

Cal. Code Regs. Tit. 2, § 1859.90.5

1. Renumbering of former section 1859.90.4 to new section 1859.90.5 filed 9-20-2017 as an emergency; operative 9-20-2017 (Register 2017, No. 38). A Certificate of Compliance must be transmitted to OAL by 3-19-2018 or emergency language will be repealed by operation of law on the following day.
2. Certificate of Compliance as to 9-20-2017 order transmitted to OAL 3-15-2018 and filed 4-23-2018 (Register 2018, No. 17).

Note: Authority cited: Section 17070.35, Education Code. Reference: Sections 17070.63 and 17072.35, Education Code.