California Assembly Bill AB2642 Amended / Bill

 BILL NUMBER: AB 2642AMENDED BILL TEXT AMENDED IN ASSEMBLY APRIL 26, 2010 INTRODUCED BY Assembly Member Nestande FEBRUARY 19, 2010 An act to add Section 53395.95 to the Government Code, relating to infrastructure financing. LEGISLATIVE COUNSEL'S DIGEST AB 2642, as amended, Nestande. Infrastructure financing: County of Riverside: medical school facilities. Existing law authorizes counties and cities to form infrastructure financing districts, in accordance with a prescribed procedure, to finance public capital facilities utilizing a method of tax increment financing. This bill would authorize the City of Riverside to  utilize these procedures to  form an infrastructure financing district  to fund the construction of medical school facilities on the property of the City of Riverside for use by the Riverside campus of the University of California   on city property that is adjacent to the campus of the University of California, Riverside, for the purpose of funding construction of facilities to establish a medical school on the   campus. The bill would require the city, if it forms an infrastructure financing district, to enter into a joint exercise of powers agreement with the regents of the University of California to construct facilities on the Riverside Campus to establish and conduct a medical school  . The bill would make findings regarding the need for special legislation. Vote: majority. Appropriation: no. Fiscal committee:  no   yes  . State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 53395.95 is added to the Government Code, to read:  53395.95. The City of Riverside may use the provisions of this chapter to form an infrastructure financing district for the purpose of funding construction of medical school facilities on the property of the City of Riverside for use by the Riverside campus of the University of California.   53395.95.   (a) The City of Riverside may form an infrastructure financing district pursuant to this chapter on city property that is adjacent to the campus of the University of California, Riverside, for the purpose of funding construction of facilities to establish a medical school at the campus.   (b) If the city forms a district pursuant to subdivision (a), it shall enter into an agreement, which may be a joint exercise of powers agreement pursuant to Chapter 5 (commencing with Section 6500) of Division 7 of Title 1, with the Regents of the University of California to construct facilities on the Riverside campus for purposes of establishing and conducting a medical school. Subject to the terms of the agreement, the facilities would be jointly owned by the city and the university, which would each provide funding for the construction.  SEC. 2. The Legislature finds and declares that a special law is necessary and that a general law cannot be made applicable within the meaning of Section 16 of Article IV of the California Constitution because of the unique circumstances applicable to the city of Riverside due to the presence of a campus of the University of California located within its boundaries and the absence of medical school facilities at that location..