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HomeEducation CodeCh. 2Art. 2§ 101423 School Bond Issuance Authority

§ 101423 School Bond Issuance Authority

Education Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 101423 School Bond Issuance Authority

This law says that when the State Allocation Board asks, the State School Building Finance Committee decides if it should sell bonds to pay for school money, and how much, and it can do this in pieces over time.

Key Takeaways

  • •The Board must ask the Committee before any bonds are considered.
  • •The Committee decides if bonds are needed and how much to issue.
  • •Bonds can be sold in several batches; they don’t all have to be sold at once.
  • •The Board’s request must include a statement of the school funding amounts.

Example

The State Allocation Board wants money to build a new high school, so it asks the Committee to see if bonds should be sold and how much.

The Committee looks at the request, checks the school funding numbers, and then decides whether to issue bonds and for what amount. It can issue several rounds of bonds instead of selling them all at once.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 101423 School Bond Issuance Authority

(a) Upon request of the State Allocation Board, the State School Building Finance Committee shall determine by resolution whether or not it is necessary or desirable to issue bonds authorized pursuant to this chapter in order to fund the related apportionments and, if so, the amount of bonds to be issued and sold. Successive issues of bonds may be authorized and sold to fund those apportionments progressively, and it is not necessary that all of the bonds authorized to be issued be sold at any one time. (b) A request of the State Allocation Board pursuant to subdivision (a) shall be supported by a statement of the apportionments made and to be made for the purposes described in Section 101412. (Added by Stats. 2024, Ch. 81, Sec. 28. (AB 247) Approved in Proposition 2 at the November 5, 2024, election. Effective November 6, 2024.)

Last verified: January 10, 2026

Key Terms

State Allocation BoardState School Building Finance CommitteebondsapportionmentsSection 101412

Related Statutes

  • § 100432 School Bond Issuance Authority
  • § 100632 School Bond Issuance Authority
  • § 100832 School Bond Issuance Authority
  • § 101023 School Bond Issuance Authority
  • § 101133 School Bond Issuance Authority

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 101423.
View Official Source