California Senate Bill SB275 Introduced / Bill

 BILL NUMBER: SB 275INTRODUCED BILL TEXT INTRODUCED BY Senator Cannella FEBRUARY 14, 2013 An act to amend Section 8010 of the Water Code, relating to water. LEGISLATIVE COUNSEL'S DIGEST SB 275, as introduced, Cannella. Local flood control: indebtedness and liability. Existing law provides that a city may incur indebtedness and liability in excess of the income and revenue provided by it for the current fiscal year, with certain limitations, for specific purposes including protecting the city from overflow by water, to drain the city, or to secure an outlet for overflow water and drainage. This bill would make technical, nonsubstantive changes. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 8010 of the Water Code is amended to read: 8010.  Any   A  city may, pursuant to this chapter, incur indebtedness and liability, although in excess of the income and revenue provided by it for the current fiscal year, but not so that the aggregate funded indebtedness of the city exceeds 6 per cent   percent  of the assessed value of all the real and personal property in the city, for any or all, or any part of, the following purposes: (a) To protect the city from overflow by water. (b) To drain the city. (c) To secure an outlet for overflow water and drainage.