Section 17491 Of Article 5. Surplus School Playground, Playing Field, And Recreational Property From California Education Code >> Division 1. >> Title 1. >> Part 10.5. >> Chapter 4. >> Article 5.
17491
. (a) Except as otherwise provided in subdivision (b) or (e),
the price at which land described in Section 17486, excluding that
portion of a schoolsite retained by the governing board pursuant to
Section 17490, is sold pursuant to this article shall not exceed the
school district's cost of acquisition, calculated as a pro rata cost
of acquiring the entire parcel comprising the schoolsite, adjusted by
a factor equivalent to the percentage increase or decrease in the
cost of living from the date of purchase to the year in which the
offer of sale is made, plus the cost of any improvement to the
recreational and open-space portion of the land which the school
district has made since its acquisition of the land. In no event
shall the price be less than 25 percent of the fair market value of
the land described in Section 17486 or less than the amount necessary
to retire the share of local bonded indebtedness plus the amount of
the original cost of the approved state aid applications on the
property, excluding that portion of a schoolsite retained by the
governing board pursuant to Section 17489, at the time of the offer.
These provisions shall apply to land that the school district
acquired by gift or for consideration.
(b) A school district that offers a portion of a schoolsite for
sale may offer such portion of property for sale at its fair market
value, provided the school district offers an equivalent size
alternative portion of that schoolsite for school playground, playing
field, or other recreational and open-space purposes.
(c) Land which is leased pursuant to this article shall be leased
at an annual rate of not more than 1/20th of the maximum sales price
determined pursuant to subdivision (a) of this section, adjusted
annually by a factor equivalent to the percentage increase or
decrease in the cost of living for the immediately preceding year.
(d) The percentage of annual increase or decrease in the cost of
living shall be the amount shown for January 1st of the appropriate
year by the then current Bureau of Labor Statistics Consumers Price
Index for the area in which the schoolsite is located.
(e) Whenever a school district closes a schoolsite and sells any
land described in Section 17486 pursuant to this article to help pay
only for capital outlay costs incurred directly as a result of the
transfer of pupils from the closed school to another school or other
schools of the district, the sale price of the property determined
pursuant to subdivision (a) shall be increased by an amount equal to
the additional costs incurred due to the school closure.