California Education Code

§ 42842

EDC § 42842 Effective Sep 21, 1992Div. 3 · Title 2 · Part 24 · Ch. 10 · Art. 5

Statute text

(a)The governing board may expend the money in the special reserve fund for capital outlay for the purpose or purposes specified in any resolution filed pursuant to Section 42841 unless the purpose has been withdrawn pursuant to that section. In addition, unless actually encumbered for ongoing expenses, the governing board may expend the money in the fund for the general operating purposes of the district.

(b)The governing board of a school district may expend the money in the special reserve fund that is maintained for purposes other than capital outlay in accordance with this section. Any moneys to be expended from this special reserve fund first shall be transferred into the general fund of the district.

Legislative history

Amended by Stats. 1992, Ch. 759, Sec. 17. Effective September 21, 1992.