California Government Code

§ 6586

GOV § 6586 Effective Jan 1, 1999Div. 7 · Title 1 · Ch. 5 · Art. 4

Statute text

It is the Legislature’s intent that this article be used to assist local agencies in financing public capital improvements, working capital, liability and other insurance needs, or projects whenever there are significant public benefits for taking that action. For the purposes of this article, “significant public benefits” means any of the following benefits to the citizens of the local agency:

(a)Demonstrable savings in effective interest rate, bond preparation, bond underwriting, or bond issuance costs.

(b)Significant reductions in effective user charges levied by a local agency.

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Legislative history

Amended by Stats. 1998, Ch. 35, Sec. 1. Effective January 1, 1999.