84(R) - 2015
Relating to the issuance of interest-bearing time warrants by school districts.
There is no significant fiscal implication to the State. This bill would
give school districts greater flexibility with regard to borrowing.
SB 1568 would amend the Education
Code to increase from 15 years to 20 years the maximum maturity period
serial installment and increase the outstanding value from $1 million
to $2 million for interest-bearing time warrants issued by a school
Vote Recommendation Notes
This bill abridges the principle of limited government. School districts
do not need more 'flexibility' to borrow money as the amount of debt
held by districts is already a significant issue. We oppose SB 1568
because it is fiscally irresponsible.