CA AB2738

Prohibits school districts and community college districts from withdrawing bond proceeds from the county treasury for investment outside the county treasury.

Requires governing boards to adopt resolutions before bond sales that include approval of the sale method, disclosure of bond counsel and financial advisers, estimated issuance costs, and financing details for capital appreciation bonds.

Mandates that resolutions involving capital appreciation bonds be noticed on at least two consecutive meeting agendas and include cost comparisons between compound-interest bonds and standard interest bonds.

Requires governing boards to present actual bond sale costs at their next public meeting and submit an itemized cost summary to the California Debt and Investment Advisory Commission.

Allows deposits of bond proceeds in county treasury building funds, costs of issuance accounts (up to 2% of principal), and interest and sinking funds under specified conditions, with any unused amounts transferred to the building fund.