1.4.4.3 Proposition 39 General Obligation Bonds

1.4.4.3 Proposition 39 General Obligation Bonds

School districts and community college districts may issue general obligation bonds with 55% voter approval, subject to accountability requirements.

ELIGIBLE ISSUERS – School districts and community college districts

ELIGIBLE PURPOSES – Construction, reconstruction, rehabilitation, or replacement of school facilities, including the furnishing and equipping of school facilities, or the acquisition or lease of real property for school facilities

GOVERNING BOARD APPROVAL REQUIREMENT – Majority vote

VOTER APPROVAL REQUIREMENT – 55%

Section 3.3.1, Local Agency General Obligation Bonds discusses Proposition 46 General Obligation Bonds and Proposition 39 General Obligation Bonds in detail.