Section 16070 Of Article 1. General Provisions From California Education Code >> Division 1. >> Title 1. >> Part 10. >> Chapter 6. >> Article 1.
16070
. The following definitions apply to the computation and
determinations required to be made under Section 16072, 16074, and
16075, and they apply with respect to each grade level of a district
for which grade level an apportionment has become final during any
preceding fiscal year.
(a) "Forty-cent tax amount" means the amount that would be
produced by a tax of forty cents ($0.40) on each one hundred dollars
($100) of assessed valuation, to and including 1980-81 fiscal year.
For the 1981-82 fiscal year and thereafter, the tax shall be 0.10
percent of the full valuation. This tax amount shall exclude the full
value of solvent credits and other intangible property, for the
current fiscal year within the district.
(b) "Thirty-cent tax amount" means the amount that would be
produced by a tax of thirty cents ($0.30) on each one hundred dollars
($100) of the assessed valuation to and including the 1980-81 fiscal
year. For the 1981-82 fiscal year and thereafter, the tax shall be
0.075 percent of the full valuation.
(c) "Ten-cent tax amount" means the amount that would be produced
by a tax of ten cents ($0.10) on each one hundred dollars ($100) of
the assessed valuation to and including the 1980-81 fiscal year. For
the 1981-82 fiscal year and thereafter, the tax shall be 0.025
percent of the full value.
(d) "Eligible bonded debt service" means the amount raised and to
be raised by the district during the current fiscal year for the
repayment of principal and interest on the portion of the bonded
indebtedness of the district that was incurred for each the grade
level prior to the making of the first apportionment for grade level
to the district under the provisions of this chapter computed as
provided in Section 16072 plus the amount of the annual repayment
under Chapter 6 (commencing with Section 15700) of this part,
provided that for the purposes hereof the first apportionment made to
a district for a grade level after all previous apportionments to
the district for that grade level have been repaid in full, excluding
apportionments made under Section 16039 and not combined with
construction apportionments, shall be deemed to be the "first
apportionment for the grade level."