California · Education Code

EDC §19525: The total amount of bonds issued shall not exceed 5 percent of the assessed value of the property of the district, prior to the 1980–81 fiscal year and shall not exceed 1.

What this law says, in plain English

This statute limits the total amount of bonds a district may issue, capping them at 5 percent of assessed property value before fiscal year 1980–81 and at 1 percent thereafter.

Read the full statutory text

The total amount of bonds issued shall not exceed 5 percent of the assessed value of the property of the district, prior to the 1980–81 fiscal year and shall not exceed 1.25 percent of the assessed value of the district beginning after the 1981–82 fiscal year, as shown by the last equalized assessment roll of the county or counties in which the district is situated.

Verify at the official source: California legislative text

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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.