Where a district has acquired the property for a nominal consideration, no certification shall be made by the Executive Officer to the State Controller with respect to each fiscal year prescribed by Section 39016. A consideration shall be deemed to be nominal with respect to any fiscal year during which a certification would otherwise be made by the Executive Officer, where it appears likely to him that it would result in a deduction by the Controller during the next succeeding fiscal year of less than $5 for any of the installments specified in Section 39016.

Note: Authority cited: Sections 39015-39018, Education Code. Reference: Section 39016, Education Code.

History

1. Amendment of section and new Note filed 4-29-77; effective thirtieth day thereafter (Register 77, No. 18).