§ 90015 Bond Validity Independent Projects

Education Code·California

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Key Takeaways

•The money borrowed (bonds) for a project is still valid even if the project isn't finished.
•The bonds don't become invalid just because the board messed up in planning or building the project.
•Contracts or mistakes in building the project don't cancel the bonds.

Example

A city borrows money to build a new park but runs out of funds halfway through.

Even if the park isn't finished, the city still has to pay back the money it borrowed. The bonds don't disappear just because the park isn't done.

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

Official Source

View on CA.gov

§ 90015 Bond Validity Independent Projects

The validity of the authorization and issuance of any revenue bonds or revenue bond anticipation notes by the board is not dependent on nor affected in any way by: (a) Proceedings taken by the board for the acquisition, construction or completion of any project or any part thereof. (b) Any contracts made by the board in connection with the acquisition, construction or completion of any project. (c) The failure to complete any project for which bonds or notes are authorized to be issued. (Amended by Stats. 1988, Ch. 740, Sec. 6.)

Last verified: January 23, 2026

Key Terms

acquisition contract validity anticipation construction completion authorization issuance

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 90015.

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Key Takeaways

Example

Key Terms

Related Statutes

References