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SB-207 Local agencies: powerplants.(2001-2002)

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SB207:v96#DOCUMENT

Amended  IN  Senate  April 25, 2001
Amended  IN  Senate  May 08, 2001
Amended  IN  Senate  May 17, 2001

CALIFORNIA LEGISLATURE— 2001–2002 REGULAR SESSION

Senate Bill
No. 207

Introduced  by  Senator Knight

February 09, 2001

An act to add Section 54349.5 to the Government Code, relating to cities and counties.


LEGISLATIVE COUNSEL'S DIGEST


SB 207, as amended, Knight. Local agencies: powerplants.
The Revenue Bond Law of 1941 authorizes any local agency to issue bonds to finance the acquisition, construction, or improvement of any enterprise, as those terms are defined.
This bill would expressly authorize a local agency to issue bonds under that law to provide funds for the construction of facilities for generating, producing, distributing, or transmitting electric energy for lighting, heating, and power for public or private uses subject to specified conditions, including voter approval.
The bill would also prohibit the sale of electricity from these powerplant facilities to out-of-state purchasers during Stage 2 or Stage 3 electrical emergencies and would provide that a local agency has the right of first refusal for the electricity generated by these facilities.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

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


SECTION 1.

 Section 54349.5 is added to the Government Code, to read:

54349.5.
 Notwithstanding Section 54310, a local agency may issue bonds pursuant to this chapter to provide funds for the construction of facilities for generating, producing, distributing, or transmitting electric energy for lighting, heating, and power for public or private uses subject to the following conditions:
(a) The local agency shall operate the facility or facilities itself or shall contract with a public or private entity to operate the facility or facilities.
(b) At least 30 percent of the revenues received by the local agency from the facility or facilities shall be used to provide for the payment of the bonds or the interest on them.

(c)In the event of a Stage 2 or Stage 3 electrical emergency declared by the California Independent System Operator, electricity generated by these powerplant facilities shall not be sold to out-of-state purchasers.

(d)

(c) The local agency that authorizes bonds pursuant to this section shall have the right of first refusal for the electricity generated by these powerplant facilities.

(e)

(d) Notwithstanding Sections 54380 and 54381, the legislative body of a local agency shall adopt a resolution to submit to its qualified voters, at an election held for that purpose, the proposition of issuing bonds pursuant to this chapter to provide funds for the acquisition, construction, improvement, or financing of facilities authorized by this section, including any or all expenses incidental thereto or connected therewith or any combination of two or more of those purposes. In all other respects, the election to authorize the bonds shall be conducted pursuant to Article 3 (commencing with Section 54380).