Section 15753 Of Article 1. General Provisions From California Education Code >> Division 1. >> Title 1. >> Part 10. >> Chapter 4. >> Article 1.
15753
. Any portion of an apportionment paid to a school district
under this chapter shall be available for expenditure by its
governing board for not less than one year nor more than three years,
as the board shall determine, after the date on which the warrant
covering the portion of the apportionment was issued by the
Controller. For the purposes of this chapter, an apportionment shall
be deemed to be expended at the time and to the extent that the
amount thereof on deposit in the county treasury has been encumbered
by the creation of a valid obligation on the part of the school
district. Upon the expiration of its period of availability, the
unencumbered balance of any apportionment made under this chapter
shall become due and payable to the State of California; and the
governing board of the school district and the county treasurer shall
pay the amount of the unencumbered balance to the Treasurer, out of
the funds, and in the manner specified in Section 15752. The payment
shall, on order of the Controller, be deposited in the Public School
Building Loan Fund in the State Treasury.
It shall be the duty of the governing body and county treasurer to
make the payments to the Treasurer as provided in this section, and
it shall be the duty of the Controller to enforce the collection on
behalf of the state.