AB 2830, as introduced, Salas. Public bodies: bonds.
Existing law requires the interest on bonds of a public body to be payable at the times established in the resolution, indenture, agreement, or other instrument providing for the issuance of bonds, and authorizes the governing body of a public body to authorize the issuance of bonds pursuant to a resolution, indenture, agreement, or other instrument providing for the issuance of bonds. Existing law defines the terms “bonds,” “public body,” and “governing body” for purposes of these provisions.
This bill would make nonsubstantive changes to those definitions.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 5850 of the Government Code is amended
2to read:
begin deleteAs used in this chapter: end deletebegin insertFor purposes of this chapter,
4the following definitions shall apply:end insert
5(a) “Bonds” means any bonds, notes, certificates of indebtedness
6or other evidences of indebtedness issued after January 1, 1989,
P2 1by a public bodybegin delete whichend deletebegin insert thatend insert is authorized to issue bonds, notes,
2certificates of indebtedness or other evidence of indebtedness.
3(b) “Public body” means the county, city, city and county, public
4district, public authority, public corporation, nonprofit corporation
5or other statutorily constituted public entitybegin delete whichend deletebegin insert thatend insert is authorized
6to issue bonds.
7(c) “Governing body” means the governing board, commission,
8city council, board of supervisors, board of directors or similar
9multimember bodybegin delete whichend deletebegin insert thatend insert exercises authority over a public
10body.
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