California Senate Bill SB442 Introduced / Bill

 BILL NUMBER: SB 442INTRODUCED BILL TEXT INTRODUCED BY Senator Hall FEBRUARY 25, 2015 An act to amend Section 71853 of the Water Code, relating to municipal water districts. LEGISLATIVE COUNSEL'S DIGEST SB 442, as introduced, Hall. Municipal water districts: revenue bonds. Existing law, the Municipal Water District Law of 1911, provides for the formation of municipal water districts and grants to those districts specified powers, including the authority to issue revenue bonds for any purpose for which general obligation bonds may be issued. This bill would make nonsubstantive changes in those provisions. 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 71853 of the Water Code is amended to read: 71853. A district may issue revenue bonds for any purpose for which general obligation bonds may be issued.  Such revenue   Revenue  bonds may be issued pursuant to the Revenue Bond Law of 1941 or any other law  which   that  by its terms is applicable to districts formed under this division.