Whenever a district disposes by sale or lease of any land or buildings no longer needed for school purposes, the net proceeds therefrom shall be remitted to the state, as rental payments pursuant to Education Code Section 17732. Such payment(s) shall be applied to the outstanding balance of any approved projects in the order(s) of approval.

Note: Authority cited: Section 17705, Education Code. Reference: Sections 17700-17749, Education Code.

History

1. Repealer and new section filed 3-17-80 as an emergency; effective upon filing (Register 80, No. 12). A Certificate of Compliance must be transmitted to OAH within 120 days or emergency language will be repealed on 7-16-80.

2. Certificate of Compliance filed 6-26-80 (Register 80, No. 26).