§ 9236 Revenue Bond Referendum Rules

Key Takeaways

•If a city wants to issue revenue bonds as part of a joint powers entity, the rule doesn't start right away—it waits 60 days.
•People in the city can challenge the rule if they don’t like it. In big cities (more than 500,000 votes in the last governor election), they need signatures from at least 5% of those voters. In smaller cities, they need 10%.
•If there’s a challenge, the city has to ask voters in an election if they agree with issuing the bonds. The ballot will explain how much money is involved and what it’s for.

Example

A small city wants to team up with nearby cities to build a new park. They plan to borrow money by issuing bonds, but some residents don’t want the city to take on debt.

The city’s plan to borrow money won’t start right away—it has to wait 60 days. If people in the city don’t like the plan, they can collect signatures from at least 10% of the voters in the last governor election to force a vote. Then, everyone in the city gets to vote yes or no on whether to borrow the money for the park.

(a) Notwithstanding Section 9235, ordinances authorizing the issuance of revenue bonds by a city as part of a joint powers entity pursuant to Section 6547 of the Government Code shall not take effect for 60 days. (b) When the number of votes cast for all candidates for Governor at the last gubernatorial election within the boundaries of the city described in subdivision (a) exceeds 500,000, the ordinance is subject to referendum upon presentation of a petition bearing signatures of at least 5 percent of the entire vote cast within the boundaries of the city for all candidates for Governor at the last gubernatorial election. When the number of votes cast for all candidates for Governor at the last gubernatorial election within the boundaries of the city is less than 500,000, the ordinance is subject to referendum upon presentation of a petition bearing signatures of at least 10 percent of the entire vote cast within the boundaries of the city for all candidates for Governor at the last gubernatorial election. (c) For the purpose of submitting the question to the voters pursuant to subdivision (b), the ballot wording shall approximate the following: “Shall the _____ (county name) _____ , as a member of the _____ (joint powers entity name) _____ , authorize the issuance of revenue bonds by the joint powers entity in the amount of $____ pursuant to ordinance number ____, dated ____, the bonds to be used for the following purposes and to be redeemed in the following manner: ________?” (Enacted by Stats. 1994, Ch. 920, Sec. 2.)

Key Takeaways

•If a city wants to issue revenue bonds as part of a joint powers entity, the rule doesn't start right away—it waits 60 days.
•People in the city can challenge the rule if they don’t like it. In big cities (more than 500,000 votes in the last governor election), they need signatures from at least 5% of those voters. In smaller cities, they need 10%.
•If there’s a challenge, the city has to ask voters in an election if they agree with issuing the bonds. The ballot will explain how much money is involved and what it’s for.

Example

A small city wants to team up with nearby cities to build a new park. They plan to borrow money by issuing bonds, but some residents don’t want the city to take on debt.

Key Takeaways

Example

Key Terms

References

§ 9236 Revenue Bond Referendum Rules

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References