Ed. Code, § 42133.5 · Article 3. Financial Reports and Certifications
Ed. Code, § 42133.5
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
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.
Notes and commentary — not statutory text
History
Amended by Stats. 2009, Ch. 140, Sec. 52. (AB 1164) Effective January 1, 2010.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=EDC§ionNum=42133.5.
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