Section 15102 Of Article 1. Purposes For Authorizing Bonds From California Education Code >> Division 1. >> Title 1. >> Part 10. >> Chapter 1. >> Article 1.
15102
. The total amount of bonds issued pursuant to this chapter
and Chapter 1.5 (commencing with Section 15264) shall not exceed 1.25
percent of the taxable property of the school district or community
college district, or the school facilities improvement district, if
applicable, as shown by the last equalized assessment of the county
or counties in which the district is located. For purposes of this
section, the taxable property of a district for any fiscal year shall
be calculated to include, but not be limited to, the assessed value
of all unitary and operating nonunitary property of the district,
which shall be derived by dividing the gross assessed value of the
unitary and operating nonunitary property within the district for the
1987-88 fiscal year by the gross assessed value of all unitary and
operating nonunitary property within the county in which the district
is located for the 1987-88 fiscal year, and multiplying that result
by the gross assessed value of all unitary and operating nonunitary
property of the county on the last equalized assessment roll.