AB 1260, as introduced, Thurmond. Enhanced infrastructure financing districts: public financing authority.
Existing law authorizes the legislative body of a city or a county, defined to include a city and county, to establish an enhanced infrastructure financing district, adopt an infrastructure financing plan, and issue bonds, for which only the district is liable, upon approval by 55% of the voters to finance public capital facilities or other specified projects of communitywide significance. Existing law requires the legislative body to establish a public financing authority, defined as the governing board of the enhanced infrastructure financing authority, comprised of members of the legislative body of the participating entities and of the public, as provided.
This bill would make nonsubstantive changes to those provisions.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 53398.51.1 of the Government Code is
2amended to read:
(a) The public financing authority shall have a
2membership consisting of one of the following, as appropriate:
3(1) If a district has only one participating affected taxing entity,
4the public financing authority’s membership shall consist of three
5members of the legislative body of the participating entity, and
6two members of the public chosen by the legislative body. The
7appointment of the public members shall be subject tobegin delete the Section 54974.
8provisions ofend delete
9(2) If a district has two or more participating affected taxing
10entities, the public financing authority’s membership shall consist
11of a majority of members from
the legislative bodies of the
12participating entities, and a minimum of two members of the public
13chosen by the legislative bodies of the participating entities. The
14appointment of the public members shall be subject tobegin delete the Section 54974.
15provisions ofend delete
16(b) The legislative body shall ensure the public financing
17authority is established prior to adopting a resolution pursuant to
18Section 53398.69 to adopt an infrastructure financing plan and to
19form a district.
20(c) Members of the public financing authority established
21pursuant to this chapter shall not receive compensation but may
22receive reimbursement for actual and necessary expenses incurred
23in the performance of official duties pursuant to Article 2.3
24(commencing with Section 53232) of Chapter 2.
25(d) Members of the public financing authority are subject to
26Article 2.4 (commencing with Section 53234) of Chapter 2.
27(e) The public financing authority created pursuant to this
28chapter shall be a local public agency subject to the Ralph M.
29Brown Act (Chapter 9 (commencing with Section 54950)), the
30California Public Records Act (Chapter 3.5 (commencing with
31Section 6250) of Division 7 of Title 1), and the Political Reform
32Act of 1974 (Title 9 (commencing with Section 81000)).
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