Senate Bill No. 1201

Introduced by Senator De León

February 20, 2014

An act to amend Section 978.6 of the Government Code, relating to local government.

LEGISLATIVE COUNSEL’S DIGEST

SB 1201, as introduced, De León. Local taxing entities: bonded indebtedness: judgments.

Existing law authorizes the governing body of a local taxing entity, as defined, to incur a bonded indebtedness to fund all or any portion of an outstanding judgment against the entity, subject to certain criteria.

This bill would make technical, nonsubstantive changes to a related provision.

Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.

The people of the State of California do enact as follows:

SECTION 1.  

Section 978.6 of the Government Code is
amended to read:

978.6.  

The board may by resolution adopted by two-thirds vote
of all its members declare that no part of a described bond issue
authorized begin delete under end delete begin insert pursuant to end insert this article begin delete which end delete begin insert that end insert remains unsold
shall be issued or sold. When the resolution takes effect, the bonds
described in the resolution begin delete which end delete begin insert that end insert remain unsold are voided.