§ 42133.5
120 words·~1 min read·
/ca/education-code/42133-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Regardless of the certification of the budgetary status of a school district or county office of education under subdivision ( l ) of Section 1240 or Section 42131, the proceeds obtained by a school district from the sources listed in subdivisions
(a)to (d), inclusive, shall not be used for general operating purposes of the school district.
(a)The sale of a saleback or leaseback agreement, or interests in the agreement.
(b)A debt instrument payable from payments under a saleback or leaseback agreement.
(c)Certificates of participation.
(d)Other debt instruments that meet both of the following criteria:
(A)They are secured by real property.
(B)They do not require the approval of the voters of the school district.