BILL NUMBER: SB 644	ENROLLED
	BILL TEXT

	PASSED THE SENATE  SEPTEMBER 7, 2011
	PASSED THE ASSEMBLY  SEPTEMBER 1, 2011
	AMENDED IN ASSEMBLY  AUGUST 29, 2011
	AMENDED IN ASSEMBLY  AUGUST 22, 2011
	AMENDED IN ASSEMBLY  JUNE 15, 2011

INTRODUCED BY   Senator Hancock
   (Coauthor: Senator DeSaulnier)
   (Coauthor: Assembly Member Skinner)

                        FEBRUARY 18, 2011

   An act to add Section 5451.5 to the Government Code, relating to
local finance, and declaring the urgency thereof, to take effect
immediately.



	LEGISLATIVE COUNSEL'S DIGEST


   SB 644, Hancock. West Contra Costa Healthcare District:
certificates of participation: lien.
   The Local Health Care District Law authorizes health care
districts in the state to provide for various forms of financing for
the purpose of carrying out their duties under the law, including
financing secured by public revenues.
   This bill would require that all obligations of the West Contra
Costa Healthcare District in connection with specified certificates
of participation be secured by a statutory lien on all of the
revenues generated from certain dedicated parcel taxes, according to
specified criteria.
   This bill would make legislative findings and declarations as to
the necessity of a special statute for the West Contra Costa
Healthcare District.
   This bill would declare that it would take effect immediately as
an urgency statute.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 5451.5 is added to the Government Code, to
read:
   5451.5.  (a) All obligations of the West Contra Costa Healthcare
District in connection with any and all certificates of participation
executed and delivered by or on behalf of the district between June
8, 2004, and December 31, 2012, including certificates of
participation executed and delivered before January 1, 2035, to
refund those certificates of participation, shall be secured by a
statutory lien on all of the revenues generated from parcel taxes
levied pursuant to Measure D, approved by the voters of the district
at the special election held on June 8, 2004.
   (b) This lien shall arise automatically without the need for any
action or authorization by the district or the board of directors of
the district. The lien shall be valid and binding from the time the
certificates of participation are executed and delivered.
   (c) The parcel tax revenue shall immediately be subject to this
lien, and the lien shall immediately attach to the parcel tax revenue
and be effective, binding, and enforceable against the district, its
successors, purchasers of those revenues, creditors, and all others
asserting rights therein, irrespective of whether those parties have
notice of the lien and without the need for any physical delivery,
recordation, filing, or further act.
  SEC. 2.  The Legislature finds and declares that a special law is
necessary and that a general statute cannot be made applicable within
the meaning of Section 16 of Article IV of the California
Constitution because of the unique circumstances regarding financing
obligations of the West Contra Costa Healthcare District.
  SEC. 3.  This act is an urgency statute necessary for the immediate
preservation of the public peace, health, or safety within the
meaning of Article IV of the Constitution and shall go into immediate
effect. The facts constituting the necessity are:
   In order to enable the West Contra Costa Healthcare District to
complete its financing, and meet its obligations to employees,
vendors, and other creditors in a timely manner, it is necessary for
this act to take effect immediately.