TITLE 1. GENERAL EDUCATION CODE PROVISIONS 1-32527›DIVISION 1. GENERAL EDUCATION CODE PROVISIONS 1-32527›PART 10. SCHOOL BONDS 15100-17204›CHAPTER 1. Bonds of School Districts and Community College Districts 15100-15262›ARTICLE 9. Tax for Payment of Bonds 15250-15254
§ 15253
California Education Code · 2026-09 edition · updated 2026-10-03 · California
If the bonds are declared invalid or are not issued for any reason, the tax levied and collected shall, if the school district or community college district has other bonds outstanding, be retained in the interest and sinking fund of the district to meet the interest and principal falling due on the bonds. If the district has no bonds outstanding the proceeds of the tax levy shall be transferred to the general fund of the district on the order of the auditor.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
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