SB 0090 Destruction of School Bonds: Reassignment of Pupils
Committee:EDUCLR Number:L0283.01I
Last Action:01/24/95 - Hearing Conducted S Education Committee
Effective Date:August 28, 1995
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Current Bill Summary

SB 90 - DESTRUCTION OF SCHOOL BONDS - Current law requires that school district bonds shall be burned or shredded in the presence of two school board members and two credible witnesses after the bonds are redeemed or paid off. The act allows the bonds to be burned or shredded by the financial institution acting as the paying agent.

The secretary or clerk of the school board shall enter, in the books of the district, the destruction certificate issued by the financial institution which shall show the date of the issue, when due and the number and amount of each bond destroyed by the financial institution.

This portion of the act is similar to SB 551 from 1994.

REASSIGNMENT OF PUPILS - Current law allows the Commissioner of Education to reassign a pupil to a district other than the district of residence if attendance in the district is an unusual or unreasonable transportation hardship, and the board of the district of residence shall pay tuition for the pupil, not to exceed the pro rata cost of instruction. The act provides that the tuition shall not exceed the cost of instruction.