{"code":"GOV","codeName":"Government Code","section":"53508.6","citation":"Gov. Code, § 53508.6","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"TITLE 5. LOCAL AGENCIES [50001. - 57607.]","url":"https://blackletter.si/government-code/title-5"},{"name":"DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000. - 55821.]","url":"https://blackletter.si/government-code/title-5/division-2"},{"name":"PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000. - 54999.7.]","url":"https://blackletter.si/government-code/title-5/division-2/part-1"},{"name":"CHAPTER 3. Bonds [53400. - 53595.55.]","url":"https://blackletter.si/government-code/title-5/division-2/part-1/chapter-3"},{"name":"ARTICLE 4.5. General Obligation Bonds [53506. - 53509.5.]","url":"https://blackletter.si/government-code/title-5/division-2/part-1/chapter-3/article-4.5"}],"history":"Added by Stats. 2013, Ch. 477, Sec. 7.   (AB 182)   Effective January 1, 2014.","effective":"2014-01-01","html":"<p>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:</p><p>(a) Complies with the requirements of subdivisions (b) and (c) of Section <a href=\"/edc/15146\">15146</a> of the Education Code.</p><p>(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.</p>","text":"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.","otherVersions":[],"url":"https://blackletter.si/government-code/general-obligation-bonds-53508-6","source":"California Legislative Information bulk export (pubinfo)"}