§ 100025 School Seismic Retrofit Funding

This law says that when money is raised by selling bonds, no more than $100 million can be spent on making existing public schools safer against earthquakes.

Key Takeaways

•Only bond money can be used for the upgrades.
•The spending cap is $100 million.
•The upgrades must be for seismic (earthquake) retrofitting of existing public schools.

Example

A city school district sells $150 million in bonds to fund school projects.

Even though the district raised $150 million, the law only lets them use up to $100 million of that money to add earthquake‑proof upgrades to the old school buildings. The remaining $50 million has to be used for other things, like new classrooms or repairs.

Of the proceeds from the sale of bonds pursuant to this chapter, not more than one hundred million dollars ($100,000,000) may be used for seismic retrofit projects of existing public school facilities. (Added by Stats. 1996, Ch. 1, Sec. 1. Approved in Proposition 203 at the March 26, 1996, election.)

This law says that when money is raised by selling bonds, no more than $100 million can be spent on making existing public schools safer against earthquakes.

Key Takeaways

•Only bond money can be used for the upgrades.
•The spending cap is $100 million.
•The upgrades must be for seismic (earthquake) retrofitting of existing public schools.

Example

A city school district sells $150 million in bonds to fund school projects.

Key Takeaways

Example

Key Terms

References

§ 100025 School Seismic Retrofit Funding

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References