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SB-1201 Local taxing entities: bonded indebtedness: judgments.(2013-2014)

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CALIFORNIA LEGISLATURE— 2013–2014 REGULAR SESSION

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   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 under pursuant to this article which that remains unsold shall be issued or sold. When the resolution takes effect, the bonds described in the resolution which that remain unsold are voided.