Cal. Education Code § 42133.5
Cal. Education Code § 42133.5
California · California Education Code · Status: effective · Effective 2010-01-01
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- Citation
- Cal. Education Code § 42133.5, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/799382
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Full text
Regardless of the certification of the budgetary status of a school district or county office of education under subdivision (l) of Section 1240 or Section 42131, the proceeds obtained by a school district from the sources listed in subdivisions (a) to (d), inclusive, shall not be used for general operating purposes of the school district.
(a) The sale of a saleback or leaseback agreement, or interests in the agreement.
(b) A debt instrument payable from payments under a saleback or leaseback agreement.
(c) Certificates of participation.
(d) Other debt instruments that meet both of the following criteria:
(A) They are secured by real property.
(B) They do not require the approval of the voters of the school district.