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City officials say state bill'now SB/HB 2043'eases bond-cap risks; four local projects paused while cash was unavailable
Summary
Staff told the Valley Center council that the final version of the state bill (referenced as 2043) includes protections that should exempt bonding and debt obligations from the cap; city staff paused four developments earlier when temporary-note cash was unavailable and expect May bond sale dates to restore funding.
Valley Center officials updated the city council on April 24 about state legislation (initially referenced as HB 274 and later as 2043) and the local impacts on the city's capital projects and bond sales.
Staff said the final version of the bill includes protective language that excludes bonding and debt obligations from the proposed cap, a change city staff and legislators had worked to secure. That…
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