ARTICLE 3. Issuance and Sale of Bonds
Article 3 added by Stats. 1996, Ch. 277, Sec. 2.
§§ 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…