§ 92524 Bond Issuance Project Limits

• •This law lets a contract say that the people in charge (regents) can't issue more bonds (borrow more money) for a project.
• •It only applies to projects like building or buying something.
• •The rule is there to stop too much borrowing for one project.

A school wants to build a new gym and borrows money by selling bonds.

The school's contract can say they can't borrow more money for this gym later, even if they need extra cash to finish it.