Cal. EDC § 16032
This is the official text of Cal. EDC § 16032, part of California’s Education Code — governs public schools, community colleges, and universities in California.
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Official statutory text
Notwithstanding any other provisions of this chapter, whenever the board makes a finding pursuant to Section 16031 that proceeds from the sale of district bonds have been expended or encumbered by a school district for purposes outside the scope and intent of this chapter the board, in lieu of requiring the district to contribute toward the project for which an apportionment is sought from any funds of the district, may stipulate that such bond funds expended or encumbered shall not be considered as “eligible bonded debt service” as defined in Section 16070 and 16084.
Status: in_force · Read it on the official government site
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