School district and community college district bonds.

(1) Existing law authorizes the governing board of any school district or community college district to order an election and submit to the electors of the district the question of whether the bonds of the district shall be issued and sold to raise money for specified purposes. Existing law generally requires, to pass a school bond measure, that either at least 23 of the votes cast on the proposition of issuing bonds be in favor of issuing the bonds to pass the measure, or, if certain conditions are met, at least 55% of the votes cast on the proposition of issuing bonds be in favor of issuing the bonds. Existing law prohibits the total amount of bonds issued by a school district or community college district from exceeding 1.25% of the taxable property of the district, only if the tax rate levied to meet specified requirements of the California Constitution in the case of indebtedness incurred by a school district, at a single election, would not exceed $30 per year per $100,000 of taxable property, as specified. This bill would raise that limit to 2%. (2) Existing law authorizes a unified school district to issue bonds receiving at least 55% of the votes cast on the proposition of issuing the bonds that, in aggregation with bonds issued with a 23 favorable vote, do not exceed 2.5% of the taxable property of the district, but only if the tax rate levied to meet specified requirements of the California Constitution in the case of indebtedness incurred by a school district, at a single election, would not exceed $60 per year per $100,000 of taxable property, as specified. This bill would raise that limit to 4%. The bill would make a similar percentage increase for community college districts.