Section 15103 Of Article 1. Purposes For Authorizing Bonds From California Education Code >> Division 1. >> Title 1. >> Part 10. >> Chapter 1. >> Article 1.
15103
. Notwithstanding any other provision of law, for the purpose
of computing the limit on the amount of bonds which may be issued by
a district pursuant to the provisions of this chapter, the taxable
property of the district shall be determined upon the basis that the
district's assessed value has not been reduced by the exemption of
the assessed value of business inventories in the district or reduced
by the homeowner's property tax exemption.