California Government Code

§ 6584.5

GOV § 6584.5 Effective Jan 1, 1997Div. 7 · Title 1 · Ch. 5 · Art. 4

Statute text

The Legislature finds and declares all of the following:

(a)That there is a critical need within the state to expand, upgrade, and otherwise improve the public capital facilities of local government necessary to support the rehabilitation and construction of residential and economic development. The needs of local government for financing these facilities greatly exceed the amount of funds available from existing state, local, and federal sources.

(b)That it is the intent of the Legislature to assist in the reduction of local borrowing costs, help accelerate the construction, repair, and maintenance of public capital improvements, and promote greater use of existing and new financial instruments and mechanisms, such as bond pooling by local agencies.

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Legislative history

Amended by Stats. 1996, Ch. 833, Sec. 1. Effective January 1, 1997.