Airport districts: temporary negotiable notes.
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
- Stage
- Session ended
- Started in
- Assembly
- Sponsors
- 2
- Latest action
- Aug 24, 2017
What it does
The California Airport District Act provides for the formation, organization, and operation of airport districts and authorizes airport districts to issue temporary negotiable notes at not more than 8% interest and not exceeding $500,000 in total amount outstanding. Existing law relating to the maximum rate on notes issued by a local agency generally provides that the rate may not exceed 12% per year. The act requires that any note proposed to be issued pursuant to the act with a term longer than 5 years not be issued until after a public hearing is conducted with respect to the issuance and a resolution is adopted approving the issuance, as specified.
Where it stands
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
Introduced (Done)
Committee (Done)
Floor (Current step)
Law (Needs attention)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
- Tom Lackey
- Fong
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
While a bill can still move, the questions are about people and money in California.