California · Streets and Highways Code - SHC

SHC §27220: Whenever the board deems it necessary for the district to incur a bonded indebtedness it shall, by resolution so declare.

What this law says, in plain English

A school board may declare by resolution that the district needs to take on bonded debt when the board determines it necessary.

Read the full statutory text

Whenever the board deems it necessary for the district to incur a bonded indebtedness it shall, by resolution so declare. The resolution shall contain: (a) A statement of the proposition to be submitted to the electors, including the purpose for which the proposed debt is to be incurred. (b) The amount of debt to be incurred, which shall not exceed 15 per cent of the assessed value of all taxable property in the district. (c) The maximum term, which shall not exceed 40 years, that the bonds proposed to be issued shall run before maturity. (d) The maximum rate of interest to be paid, which shall not exceed 6 per cent per annum. (e) A statement that interest, to be paid upon such bonds, during the period of construction of the works of the district and before any revenue is obtained therefrom shall be a capital charge, and shall be payable out of the principal sum realized from the sale of the bonds.

Verify at the official source: California legislative text

Facing this? Know exactly what happens next.

MOFRD turns this code section into your situation: the deadlines that apply to you, the forms your county uses, and the resolution paths people in your position actually take. Free for 3 days — no card required.

Start your matter free Ask Law Link about this code

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.