SB 0461 Revises school district debt limit and allowed investments
LR Number:S1924.02P Fiscal Note:1924-02
Last Action:04/15/99 - Voted Do Pass w/HCA 1 H Education-Elementary & Journal page:
Secondary Committee
Effective Date:August 28, 1999
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Current Bill Summary

SB 461 - This act raises the statutory limit on school bonded indebtedness to 15% of the district's assessed valuation, as established by constitutional amendment in April 1998. Also, the requirement that urban school districts shall sell bonds at no less than 95% of par value is removed. The act makes technical changes to wording which determines allowed investments for school districts.