California · Education Code
EDC §17457: Notwithstanding any other provision of this part, in connection with a sale, sale back, lease, or leaseback of school district property, no proceeds obtained by the school district from the sale of th
What this law says, in plain English
This statute restricts how school districts may use proceeds from selling or leasing school property in sale-leaseback arrangements.
Read the full statutory text
Notwithstanding any other provision of this part, in connection with a sale, sale back, lease, or leaseback of school district property, no proceeds obtained by the school district from the sale of the sale back or leaseback agreement, or interests therein, or a debt instrument payable from payments under the sale back or leaseback agreement shall be used for general operating purposes of the school district.
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