Cal. Ed. Code § 81363

Current through the 2024 Legislative Session.
Section 81363 - Use of funds derived from sale or lease with option to purchase

The funds derived from the sale or from a lease with an option to purchase shall be used for capital outlay or deferred maintenance; provided, however, that the proceeds of property sold or leased in accordance with subdivision (a) or (b) of Section 81363.5 may be deposited in the general fund of the district if, prior to the sale or lease, the community college district governing board has determined that the district has no anticipated need for additional sites or building construction for the five-year period following the sale or lease.

Ca. Educ. Code § 81363

Amended by Stats. 1984, Ch. 609, Sec. 4. Effective July 19, 1984.