BILL NUMBER: AB 650INTRODUCED BILL TEXT INTRODUCED BY Assembly Member Hill (Principal coauthor: Senator Yee) FEBRUARY 25, 2009 An act relating to local government, and declaring the urgency thereof, to take effect immediately. LEGISLATIVE COUNSEL'S DIGEST AB 650, as introduced, Hill. Local government: City of Half Moon Bay. Existing law authorizes a local government to enter into financial arrangements on behalf of its locality. This bill would declare that it is the intent of the Legislature to enact legislation to assist the City of Half Moon Bay to reach a favorable financial resolution arising from liabilities the city has incurred relating to specific property. This bill would declare that it is to take effect immediately as an urgency statute. Vote: 2/3. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. It is the intent of the Legislature to enact legislation to assist the City of Half Moon Bay to reach a favorable financial resolution arising from the liabilities the city has incurred relating to the Beachwood property located in the city. SEC. 2. This act is an urgency statute necessary for the immediate preservation of the public peace, health, or safety within the meaning of Article IV of the Constitution and shall go into immediate effect. The facts constituting the necessity are: In order for the settlement of protracted and expensive litigation and the avoidance of possible municipal insolvency, it is necessary that this act take effect immediately.