California Legal Codes and Statutes

§ 53508.6

Added by Stats. 2013, Ch. 477, Sec. 7. (AB 182) Effective January 1, 2014.

Notwithstanding any other law, a school district or community college district may, pursuant to this article, issue bonds that do not allow for the compounding of interest and that have a maturity greater than 30 years, but not greater than 40 years, if the school district or community college district does both of the following:

(a)Complies with the requirements of subdivisions (b) and (c) of Section 15146 of the Education Code.
(b)Makes a finding that the useful life of the facility financed with the bonds that do not allow for the compounding of interest and that have a maturity greater than 30 years, but not greater than 40 years, equals or exceeds the maturity date of those bonds.

Cite this section

Cal. Gov. Code § 53508.6 (2026)
https://ca.codecond.com/codes/gov/title-5-local-agencies/division-2-cities-counties-and-other-agencies/part-1-powers-and-duties-common-to-cities-counties-and-other-agencies/chapter-3-bonds/article-4-5-general-obligation-bonds/section-53508.6

Other sections in Article 4.5 - General Obligation Bonds

§ 53506§ 53506.5§ 53507§ 53507.5§ 53508§ 53508.3§ 53508.5§ 53508.6§ 53508.7§ 53508.9§ 53509§ 53509.3§ 53509.5

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