BILL NUMBER: SB 685	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Anderson

                        FEBRUARY 22, 2013

   An act relating to school bonds.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 685, as introduced, Anderson. School bonds: capital
appreciation bonds.
   Existing law authorizes the governing board of a school district
or community college district to, when in its judgment it is
advisable, 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 specified
purposes.
   This bill would state the intent of the Legislature to enact
legislation that prohibits a school district from issuing capital
appreciation bonds.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  It is the intent of the Legislature to enact
legislation that prohibits a school district from issuing capital
appreciation bonds.