If the district has any bonds which were issued under the provisions of this code
but which cannot, in the opinion of the board, be sold on terms which are advantageous
to the district, the district may obtain a loan in an amount of not more than the
amount of the unsold bonds. The money may be used for any of the purposes for which the bonds were issued, and
the bonds may be pledged as a guarantee or assurance that the loan will be paid. The amount of bonds pledged may not exceed the amount of the loan by more than 15
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.