Official:Authorizing the Bond Committee to sell bonds at public or private negotiated sale, to provide funds toward various capital municipal purposes; providing for appropriations to the Sinking Fund Commission for the payment of such bonds; authorizing agreements to provide credit or payment or liquidity sources for the bonds in connection with issuance of the bonds, and certain other actions; providing for obtaining the consent of the electors to increasing the indebtedness of the City; and fixing a day and providing for arrangements for holding the election for obtaining such consent.
Sponsor: Councilmember Tasco
Introduced: January 28, 2010
Signed: March 11, 2010
: Committee on Finance
Status: Signed into Law, step 4 of 4
This bill allows the City to borrow $65 million through bond sales for various capital projects, but requires voter approval before increasing the city's debt.
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