Cal. Ed. Code § 81938

Current through the 2023 Legislative Session.

Section 81938 - Costs and expenses incident to issuance and sale; payment of interest out of proceeds during construction

All costs and expenses incident to the issuance and sale of bonds may be paid out of the proceeds of the sale of the bonds. Interest on bonds may be paid out of the proceeds of the sale of the bonds during the actual construction of any project for the acquisition, construction, or completion of which the bonds have been issued, and for a period of not to exceed two years thereafter as provided for in the indenture.

Ca. Educ. Code § 81938

Added by Stats. 1982, Ch. 251, Sec. 28. Effective June 11, 1982. Operative July 1, 1982, by Sec. 47 of Ch. 251.