AB 2157: City of Alameda Health Care District: certificates of participation: lien.

The Local Health Care District Law authorizes health care districts in the state to provide for various forms of financing for the purpose of carrying out their duties under the law, including financing secured by public revenues.

This bill would require that all obligations of the City of Alameda Health Care District in connection with specified certificates of participation be secured by a statutory lien on all of the revenues generated from certain dedicated parcel taxes, according to specified criteria. The bill would require the proceeds of the certificates of participation to be used only to finance construction projects and would prohibit their use to cover operational costs. The bill would also make related findings and declarations.

This bill would make legislative findings and declarations as to the necessity of a special statute for the City of Alameda Health Care District.

This bill would declare that it is to take effect immediately as an urgency statute.