§ 90049 Bond Security And Redemption

Education Code·California

AI SummaryVerified

Key Takeaways

•The board can use money or property they own to pay back bonds.
•They can only use money that isn't already set aside for something else.
•This helps make sure bonds are safe and get paid on time.

Example

Imagine the board has $100 from selling an old building.

If that $100 isn't already promised for something else, they can use it to pay back a bond they issued earlier.

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

Official Source

View on CA.gov

§ 90049 Bond Security And Redemption

The board may provide for the security of bonds. The board may use and expend all or any part of any funds or proceeds of any property owned by it, whether received by gift, appropriation or otherwise, if not restricted as to the use of such funds or proceeds of property by the terms of any gift or trust or provision of law for the redemption of bonds issued pursuant to the provisions of this article and the payment of interest due thereon. (Enacted by Stats. 1976, Ch. 1010.)

Last verified: January 23, 2026

Key Terms

property the board security appropriation redemption

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 90049.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References