SB 222 — Local agencies: school bonds: general obligation bonds: statutory lien.

Summary

(1) Except as otherwise provided by law, existing law provides that the governing board of a school district or community college district may, when in its judgment it is advisable, and shall, upon a petition of the majority of the qualified electors residing in the school district or community college district, order an election and submit to the electors of the district the question whether the bonds of the district shall be issued and sold for the purpose of raising money for certain school facilities purposes, including the purchasing of school lots and the building or purchasing of school buildings. If the bond measure is approved by the electors, existing law requires the board of supervisors of the county whose county superintendent of schools has jurisdiction over the school district or community college district to annually, at the time of making the levy of taxes for county purposes, levy a tax for that year upon the property in the district for the interest and redemption of all outstanding bonds of the school district or community college district. Existing law requires that all taxes levied, when collected, to be paid into the county treasury, as provided, to be used for the payment of the principal and interest of the bonds and for no other purpose. This bill would require bonds issued and sold pursuant to these provisions to be secured by a statutory lien on all revenues received pursuant to the levy and collection of the tax, as provided. (2) Existing law authorizes local agencies to issue general obligation bonds, as provided. This bill would require general obligation bonds issued and sold by or on behalf of a local agency to be secured by a statutory lien on all revenues received pursuant to the levy and collection of the property tax imposed to service those bonds, as provided.

Bill Text

• Chaptered 07/13/15 - Chaptered Current pdf July 13, 2015
• Enrolled 06/30/15 - Enrolled pdf June 30, 2015
• Amended 05/19/15 - Amended Assembly pdf May 19, 2015
• Amended 04/15/15 - Amended Senate pdf April 15, 2015
• Introduced 02/12/15 - Introduced pdf February 12, 2015
• SB222 View text html

Action History

1. July 13, 2015

   Chaptered by Secretary of State. Chapter 78, Statutes of 2015.

2. July 13, 2015

   Approved by the Governor.

3. July 01, 2015

   Enrolled and presented to the Governor at 4:45 p.m.

4. June 29, 2015

   Assembly amendments concurred in. (Ayes 37. Noes 0. Page 1660.) Ordered to engrossing and enrolling.

5. June 25, 2015

   In Senate. Concurrence in Assembly amendments pending.

6. June 25, 2015

   Read third time. Passed. (Ayes 79. Noes 0. Page 2147.) Ordered to the Senate.

7. June 18, 2015

   Read second time. Ordered to third reading.

8. June 17, 2015

   From committee: Do pass. (Ayes 9. Noes 0.) (June 17).

9. May 19, 2015

   From committee with author's amendments. Read second time and amended. Re-referred to Com. on L. GOV.

10. May 14, 2015

    Referred to Com. on L. GOV.

11. April 23, 2015

    In Assembly. Read first time. Held at Desk.

12. April 23, 2015

    Read third time. Passed. (Ayes 38. Noes 0. Page 741.) Ordered to the Assembly.

13. April 15, 2015

    Read second time and amended. Ordered to third reading.

14. April 14, 2015

    From committee: Do pass as amended. (Ayes 6. Noes 0. Page 524.) (April 8).

15. March 19, 2015

    Set for hearing April 8.

16. February 26, 2015

    Referred to Com. on GOV. & F.

17. February 13, 2015

    From printer. May be acted upon on or after March 15.

18. February 12, 2015

    Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

• Block · Primary

Votes

Subjects