Bill Text: CA SB442 | 2015-2016 | Regular Session | Introduced

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Bill Title: Municipal water districts: revenue bonds.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2016-02-01 - Returned to Secretary of Senate pursuant to Joint Rule 56. [SB442 Detail]

Download: California-2015-SB442-Introduced.html

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BILL NUMBER: SB 442	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Hall

                        FEBRUARY 25, 2015

   An act to amend Section 71853 of the Water Code, relating to
municipal water districts.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 442, as introduced, Hall. Municipal water districts: revenue
bonds.
   Existing law, the Municipal Water District Law of 1911, provides
for the formation of municipal water districts and grants to those
districts specified powers, including the authority to issue revenue
bonds for any purpose for which general obligation bonds may be
issued.
   This bill would make nonsubstantive changes in those provisions.
   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 71853 of the Water Code is amended to read:
   71853.  A district may issue revenue bonds for any purpose for
which general obligation bonds may be issued.  Such revenue
  Revenue  bonds may be issued pursuant to the
Revenue Bond Law of 1941 or any other law  which 
 that  by its terms is applicable to districts formed under
this division.