Local educational agencies: school bonds: notices.

(1) Existing law requires a school district to notify the county superintendent of schools and the county auditor when the governing board of the school district approves proceeding with the issuance of certificates of participation or revenue bonds or entering into specified agreements for financing school construction pursuant to the California School Finance Authority Act. The superintendent of the school district is required to provide specified information to the county auditor, the county superintendent of schools, the governing board, and the public regarding that debt. Existing law requires the county superintendent of schools or superintendent of a school district for which the county board serves as governing board to notify the Superintendent of Public Instruction when the county board of education approves proceeding with the issuance of certificates of participation or revenue bonds or to entering into an agreement for financing pursuant to the California School Finance Authority Act. The county superintendent of schools or the superintendent of a school district for which the county board serves as the governing board is required to provide specified information to the Superintendent of Public Instruction, the governing board, and the public. This bill would delete the language specifying that the scope of these provisions is limited to revenue bonds, and instead refer to bonds generally. The bill would also require that, no later than 30 days before the approval by the governing board of the school district to proceed with the issuance of bonds, the school district notify the county superintendent of schools and the county auditor. The bill would delete the language limiting the requirement of this notice to instruments that do not require approval of the voters of the school district or county. To the extent that this bill would expand the requirements for the provision of notices by specified county officials, the bill would impose a state-mandated local program. (2) The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to these statutory provisions.