2018 Public Agency Legislative Update: Public Finance

AB 733. Enhanced Infrastructure Financing Districts: AB 733 amends Government Code sections 53398.50 and 53398.50 to authorize local agencies to provide for the means to funding projects that support community efforts to adapt to the impacts of climate change, construct and rehabilitate affordable housing, and construct facilities necessary to support such efforts. This authorization applies to all local agencies except for schools. AB 733 also adds a non-exhaustive list of the types of issues that can be addressed through such funding to Government Code section 53398.52.

AB 1568. Enhanced Infrastructure Financing District: AB 1568 authorizes cities and counties to adopt a resolution allocating specified tax revenues to an enhanced infrastructure financing district before or after adopting an infrastructure refinancing plan. AB 1568 also requires that the city or county establishing such a district adopt an ordinance that establishes procedures for calculating the amount of tax revenues that will be dedicated to the district.

SB 450. Public Bodies: Bonds: Public Notice: SB 450 adds Government Code section 5852.1 requiring public agencies to make certain public disclosures before the issuance of bonds with a terms longer than 13 months in addition to pre-existing disclosure requirements. These new disclosures are: (1) the true interest cost of the bonds, (2) the bond’s finance charges, (3) the agency’s proceeds from the sale of the bonds, and (4) the total payment amount that will be made on the bonds. The bill additionally imposes certain standards for the source and methodology of compiling this information.

If you have any questions about these legal developments, please contact the following from our office, or the attorney with whom you normally consult.

Maggie Stern
mstern@kmtg.com | 916.321.4541

Andreas Booher
abooher@kmtg.com | 916.321.4372