Bill No.: HB0038                  Drafter:  DRN

LSO No.:  07LSO-0205              Effective Date:  7/1/2007

Enrolled Act No.:  HEA0017

Chapter No.:       35

Prime Sponsor:     Representative McOmie

Catch Title:       School districts-bond issues.

Subject:  School district general obligation bonding for school facility enhancements.

Summary/Major Elements:

· Requires a school district bonding proposition submitted to the district voters on or after July 1, 2007 for facility or facility feature enhancements to include a reserve or sinking fund for maintenance and repair;

· Requires the reserve or sinking fund be set at a minimum of three percent (3%) of bond proceeds;

· Expands district bonding purposes authorized by law to include repair and maintenance.