California Education Code

§ 17163

EDC § 17163 Effective Jan 1, 1997Div. 1 · Title 1 · Part 10 · Ch. 17

Statute text

(a)Notwithstanding any other provision of law, a school district may participate in this act, if the governing board of the school district adopts a resolution approving that participation. A participating school district shall pledge a portion of the lottery revenues allocated annually to the school district from the California State Lottery Education Fund as a dedicated revenue source to repay bonds issued by the authority under the act.

(b)A school district may pledge an amount up to the equivalent of 25 percent, but not more than 25 percent, of the allocation to the school district for the 1996–97 fiscal year from the California State Lottery Education Fund.

(c)A participating school district shall guarantee the repayment of bonds issued under this chapter by providing instructions to the Controller as follows:

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Legislative history

Added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.