BILL NUMBER:  SB 1129
  VETOED	DATE: 09/29/2014




To the Members of the California State Senate:

I am returning Senate Bill 1129 without my signature.

This bill allows Successor Agencies to  expend revenues from bonds
issued after December 2010, allows Agencies to enter into new or
amended contracts without review, and allows interest rates on the
repayment of loans to the redevelopment agency to be calculated
quarterly per the Local Agency Investment Fund rate.

The provisions included in this bill deal with separate and distinct
issues that must be thoroughly reviewed and discussed amongst all
affected parties. Furthermore, I have already vetoed AB 2493, and
this bill contains a similar provision to allow 2011 bond proceeds to
be spent.

I am willing to work with the Legislature in the next session to
refine the redevelopment agency dissolution statutes in a way that
will make them operate more fairly and advantageously for everyone.

Sincerely,



Edmund G. Brown Jr.