Cal. Ed. Code § 35574

Current through the 2023 Legislative Session.
Section 35574 - Outstanding bonded indebtedness liability of acquiring district

Notwithstanding any other provision of this code, for the purposes of applying the State School Building Aid Law of 1952 (Chapter 6 (commencing with Section 16000) of Part 10 of Division 1 of Title 1), the amount of outstanding bonded indebtedness, exclusive of interest, of the former or divided districts that is equal to the liability incurred by the new or acquiring district pursuant to Section 35576 shall be considered a liability of the new or acquiring district for purposes of computing the bonding capacity of the school district.

Ca. Educ. Code § 35574

Amended by Stats 2016 ch 186 (AB 2659),s 15, eff. 1/1/2017.