"Absent specific approval from the district's electors, a school district may not issue refunding general obligation bonds at a price or an interest rate that will generate proceeds in excess of the amount needed to retire the designated outstanding bonds."
The Attorney General's report is here Web Link
A Bloomberg article on how school districts used this illegal maneuver is here Web Link
So, who's telling the truth?
The California Attorney General or Asst. Supt. Luz Cazares?
This story contains 171 words.
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