AB 1196: California Coastal Act of 1976: Port of Newport Beach.

Session Year: 2017-2018
House: Assembly

Version:

The California Coastal Act of 1976 establishes the California Coastal Commission and prescribes the membership and functions and duties of the commission with regard to the regulation and protection of coastal resources. The act specifies that after a port master plan for the Port of Hueneme, Long Beach, Los Angeles, or San Diego Unified Port District located within the coastal zone, as provided, is certified by the commission, the permit authority of the commission is thereafter delegated to the appropriate port governing body, except as specified. Existing law requires certain cities and counties to incorporate the master plan in its local coastal program.

This bill would additionally apply this port master plan provision to the Port of Newport Beach located within the coastal zone, except as provided. By imposing duties on local officials, this bill would impose a state-mandated local program.

The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.

This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above.

(1)Existing law authorizes the governing board of a school district or community college district to order an election and submit to the electors of the district whether the bonds of the district should be issued and sold, and sets forth requirements in that regard, including specifying that the term of a bond shall not exceed 25 years from the date of the bond or bond series.This bill would specify that a bond issued for projects that include the furnishing and equipping of classrooms shall have a weighted average maturity that does not exceed 120% of the average reasonably expected economic life of the financed project.(2)Existing law, additionally and alternatively to the authority described above, authorizes the issuance of bonds or refunding bonds by a school district or community college district secured by the levy of ad valorem taxes, and, pursuant to those provisions, authorizes a school district or community college district to issue bonds that do not allow for the compounding of interest and that have a maturity greater than 30 years, but no greater than 40 years, in accordance with specified requirements.This bill, notwithstanding those provisions, would specify that a bond issued for projects that include the furnishing and equipping of classrooms shall have a weighted average maturity that does not exceed 120% of the average reasonably expected economic life of the financed project.

Discussed in Hearing