California Assembly Bill AB2830 Introduced / Bill

 BILL NUMBER: AB 2830INTRODUCED BILL TEXT INTRODUCED BY Assembly Member Salas FEBRUARY 19, 2016 An act to amend Section 5850 of the Government Code, relating to bonds. LEGISLATIVE COUNSEL'S DIGEST AB 2830, as introduced, Salas. Public bodies: bonds. Existing law requires the interest on bonds of a public body to be payable at the times established in the resolution, indenture, agreement, or other instrument providing for the issuance of bonds, and authorizes the governing body of a public body to authorize the issuance of bonds pursuant to a resolution, indenture, agreement, or other instrument providing for the issuance of bonds. Existing law defines the terms "bonds," "public body," and "governing body" for purposes of these provisions. This bill would make nonsubstantive changes to those definitions. 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 5850 of the Government Code is amended to read: 5850.  As used in this chapter:   For purposes of this chapter, the following definitions shall apply:  (a) "Bonds" means any bonds, notes, certificates of indebtedness or other evidences of indebtedness issued after January 1, 1989, by a public body  which   that  is authorized to issue bonds, notes, certificates of indebtedness or other evidence of indebtedness. (b) "Public body" means the county, city, city and county, public district, public authority, public corporation, nonprofit corporation or other statutorily constituted public entity  which   that  is authorized to issue bonds. (c) "Governing body" means the governing board, commission, city council, board of supervisors, board of directors or similar multimember body  which   that  exercises authority over a public body.