CHAPTER 1. Bonds of School Districts and Community College Districts [15100. - 15262.]

Chapter 1 added by Stats. 1996, Ch. 277, Sec. 2.

§§ 15100–15262 · 67 sections

1. ARTICLE 1. Purposes for Authorizing Bonds §§ 15100–15111 · 14 sections

   • § 15100 (a) Except as otherwise provided by law, the governing board of any school district or community college district may, when in its judgment it is advisable,…
   • § 15100.3 (a) Two or more small school districts that have had the issuance of bonds authorized by the voters pursuant to this chapter may form a joint powers authority…
   • § 15100.5 Except as otherwise provided by law, the governing board of the Peralta Community College District may, when in its judgment it is advisable, order the county…
   • § 15101 Notwithstanding any other law, an election may not be held pursuant to this chapter within 45 days before a statewide election or within 45 days after a…
   • § 15101.75 (a) This chapter shall apply to bond elections for and the issuance of bonds for school facilities improvement districts created pursuant to Chapter 2…
   • § 15102 The total amount of bonds issued pursuant to this chapter and Chapter 1.5 (commencing with Section 15264) shall not exceed 1.25 percent of the taxable property…
   • § 15103 Notwithstanding any other provision of law, for the purpose of computing the limit on the amount of bonds which may be issued by a district pursuant to the…
   • § 15105 For the purpose of the provisions of Sections 15102 and 15106 which require that the valuation as shown on the last equalized assessment roll be modified…
   • § 15106 A unified school district or community college district may issue bonds that, in aggregation with bonds issued pursuant to Section 15270, shall not exceed 2.5…
   • § 15107 In computing the limitation of indebtedness of a school district, community college district, or school facilities improvement district of any kind or class up…
   • § 15108 For the purpose of determining the limitation of indebtedness of a school district, community college district, or school facilities improvement district of…
   • § 15109 Where an elementary school district and a high school district with a combined average daily attendance of 300,000 or more are governed by the same governing…
   • § 15110 An action to determine the validity of bonds and of the ordering of the improvement or acquisition may be brought pursuant to Chapter 9 (commencing with…
   • § 15111 The governing board of each school district or community college district shall, within 30 days after the end of each fiscal year, submit to the county…
2. ARTICLE 2. General Provisions for Bond Elections §§ 15120–15126 · 8 sections

   • § 15120 (a) An election held for purposes of this chapter shall be conducted as provided in Chapter 3 (commencing with Section 5300) of Part 4, except as otherwise…
   • § 15121 Any election called pursuant to Sections 15100 to 15141, inclusive, and Sections 15142 to 15261, inclusive, may be consolidated with any other election…
   • § 15122 (a) A brief statement of the proposition, setting forth the amount of the bonds to be voted upon, the maximum rate of interest, and the purposes for which the…
   • § 15122.5 (a) Whenever an election is called on the question of whether bonds of a school district shall be issued and sold for the purposes specified in Section 15100…
   • § 15123 The form and details of all ballots at school district or community college bond elections shall comply with ballot provisions of this code applicable to…
   • § 15124 If it appears from the certificate of election results that two-thirds of the votes cast on the proposition of issuing bonds of the district are in favor of…
   • § 15125 The proceedings relating to the authorization of bonds of a joint school district of any type need be certified only to the board of supervisors of the county…
   • § 15126 No error, irregularity, or omission which does not affect the substantial rights of the taxpayers within the district or the electors voting at any election at…
3. ARTICLE 3. Issuance and Sale of Bonds §§ 15140–15150 · 15 sections

   • § 15140 (a) Bonds of a school district or community college district shall be offered for sale by the board of supervisors of the county, the county superintendent of…
   • § 15140.5 For purposes of this article, “bonds” means bonds, notes, warrants, or other evidence of indebtedness payable, both principal and interest, from the proceeds…
   • § 15141 When authorized by the governing board of a school district or a community college district, bonds of a school district or a community college district may be…
   • § 15142 The bonds shall be issued in the denomination or denominations as the board of supervisors or governing board of the community college district may prescribe.
   • § 15143 The bonds shall not bear a rate of interest greater than 8 percent per annum, payable annually or semiannually.
   • § 15144 The number of years the whole or any part of the bonds are to run shall not exceed 25 years, from the date of the bonds or the date of any series thereof.
   • § 15144.1 The ratio of total debt service to principal for each bond series shall not exceed four to one.
   • § 15144.2 A bond that allows for the compounding of interest, including, but not limited to, a capital appreciation bond, maturing more than 10 years after its date of…
   • § 15144.3 A school district or community college district with a note issued before December 31, 2013, pursuant to Section 15150 may seek from the state board or the…
   • § 15145 (a) The board of supervisors by an order entered upon its minutes shall prescribe the form of the bonds. The bonds shall be signed by the chairperson of the…
   • § 15146 (a) The bonds shall be issued and sold pursuant to Section 15140, payable out of the interest and sinking fund of the school district or community college…
   • § 15147 Before selling the bonds, or any part of them, the board of supervisors or community college district, as appropriate, shall give notice as required by Section…
   • § 15148 If satisfactory bids are received, the bonds offered for sale shall be awarded to the highest responsible bidder or bidders, and the clerk of the board of…
   • § 15149 The issuing school district or community college district by action of its governing board may prepare, or have prepared, bond brochures to serve as a…
   • § 15150 (a) When the governing board of a school district or a community college district deems it in the best interests of the district, it may by resolution, upon…
4. ARTICLE 4. Required Form of Bonds §§ 15180–15182 · 3 sections

   • § 15180 Whenever under Sections 15100 and 15102, and Sections 15107 to 15140, inclusive, and Sections 15142 to 15261, inclusive, any bonds are issued, the bonds may be…
   • § 15181 If any officer whose signature, countersignature, or attestation appears on any school bonds or coupons ceases to be an officer before the delivery of the…
   • § 15182 Any bonds executed in the manner provided by the board of supervisors shall be valid, notwithstanding any change in the officers who signed the bonds or the…
5. ARTICLE 5. Registration of Bonds §§ 15190–15194 · 5 sections

   • § 15190 Whenever the owner of any coupon bond or of any bond payable to bearer presents the bond to the treasurer or other officer of the county in which the district…
   • § 15191 After registration any bond may be transferred by the registered owner in person, or by attorney duly authorized, on presentation of the bond to the treasurer…
   • § 15192 The statement stamped, printed, or written upon the bond may be substantially in the following form: (Date, giving month, day, and year.) This bond is…
   • § 15193 After any bond has been registered as provided in this article, the principal and interest of the bond shall be payable to the registered owner.
   • § 15194 The treasurer or other officer shall keep in his or her office a book or books which shall at all times show what bonds are registered and in whose name…
6. ARTICLE 6. Cancellation of Unsold Bonds §§ 15200–15205 · 6 sections

   • § 15200 If any bonds authorized under the provisions of Sections 15100 and 15102, and Sections 15107 to 15140, inclusive, and Sections 15142 to 15261, inclusive, have…
   • § 15201 Upon receiving the petition, signed by a majority of the members of the governing board, the board of supervisors shall fix a time for hearing it, which shall…
   • § 15202 At the time and place designated in the notice, or at any subsequent time to which the hearing may be postponed, the board of supervisors shall hear any…
   • § 15203 If the board of supervisors deem it for the best interests of the school district or community college district named in the petition that the unsold bonds be…
   • § 15204 The governing board of any school district or community college district may petition the board of supervisors to cancel the remaining authorization of that…
   • § 15205 For any bonds authorized at a school district election on November 5, 1991, and thereafter cancelled pursuant to this article without having been issued, the…
7. ARTICLE 7. Purchase of Bonds by Issuing School Districts and Community College Districts §§ 15220–15221 · 2 sections

   • § 15220 The governing board of a school district or community college district may purchase in the open market bonds issued by the district. The cost of bonds…
   • § 15221 When any bonds issued by a district have been purchased by the governing board of the district, the bonds shall be deemed canceled and of no further validity.…
8. ARTICLE 8. Method of Bond Payment §§ 15230–15235 · 6 sections

   • § 15230 The board of supervisors by an order entered upon its minutes shall fix the time when the whole or any part of the principal of the bonds shall be payable,…
   • § 15231 The board of supervisors at the direction of governing board of the district may divide the principal amount of bonds authorized at any election into two or…
   • § 15232 The board of supervisors may make the principal and interest of the bonds payable at the office of the treasurer of the county, or at any other place within…
   • § 15233 (a) The principal and interest on the bonds shall be paid by the county treasurer of the county, the superintendent of schools of which has jurisdiction of the…
   • § 15234 Any money remaining in the interest and sinking fund of any district after the payment of all bonds and coupons payable from the fund, or any money in excess…
   • § 15235 Any money paid into the county treasury of the county and credited to the interest and sinking fund of any district remaining after the payment of all bonds…
9. ARTICLE 9. Tax for Payment of Bonds §§ 15250–15254 · 5 sections

   • § 15250 The board of supervisors of the county, the superintendent of schools of which has jurisdiction over any district, shall annually at the time of making the…
   • § 15251 (a) When collected, all taxes levied shall be paid into the county treasury of the county whose superintendent of schools has jurisdiction over the school…
   • § 15252 The board of supervisors of the county, the superintendent of schools which has jurisdiction over any school district, shall annually at the time of making the…
   • § 15253 If the bonds are declared invalid or are not issued for any reason, the tax levied and collected shall, if the school district or community college district…
   • § 15254 This article shall apply only to bonds of a school district or community college district which were approved by the electors prior to July 1, 1978, and to…
10. ARTICLE 10. Tax for Payment of Bonds of School District or Community College District Located in Two or More Counties §§ 15260–15262 · 3 sections

    • § 15260 In case of a district lying in two or more counties, the assessor of each of the counties in which the district lies, shall annually as soon as the county…
    • § 15261 The tax shall be entered upon the assessment roll and collected in the same manner as other school taxes. The tax when collected shall be paid into the county…
    • § 15262 This article shall apply only to bonds of a school district which were approved by the electors prior to July 1, 1978, and to bonded indebtedness for the…