Contra Costa California Authorization to increase bonded indebtedness

• Category: Corporations - Public - Indebtedness and Financial Restructuring
• State: Multi-State
• County: Contra Costa
• Control #: US-CC-6-102
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. Contra Costa County, located in the state of California, has certain provisions for authorizing an increase in bonded indebtedness. This authorization allows the county to incur additional debt through the issuance of bonds for specific purposes, such as funding public infrastructure projects or improving essential services. One type of authorization to increase bonded indebtedness in Contra Costa County is the General Obligation Bond (GO Bond). These bonds are secured by the county's taxing authority and require voter approval. The funds generated from GO Bonds can be allocated to various projects, including the construction and maintenance of schools, parks, roads, and other county facilities. Another type of authorization is the Revenue Bonds. Unlike GO Bonds, Revenue Bonds are backed by specific revenue streams, such as fees or tolls, rather than the county's taxing authority. These bonds are often issued to finance capital improvements for revenue-generating facilities like airports, utilities, or hospitals within Contra Costa County. The process of obtaining authorization to increase bonded indebtedness in Contra Costa County typically involves several steps. First, the county government identifies the need for additional funds and determines the specific purpose for which the money will be used. A comprehensive plan or proposal is then presented to the county's Board of Supervisors or other relevant governing body. Once the plan is approved by the governing body, it may be necessary to conduct community outreach and education to gain public support and explain the potential benefits of the increase in bonded indebtedness. Ultimately, the authorization process culminates in a ballot measure, where eligible voters in Contra Costa County have the opportunity to approve or reject the issuance of bonds. Keywords: Contra Costa County, California, authorization, increase, bonded indebtedness, General Obligation Bond, GO Bond, Revenue Bond, infrastructure projects, essential services, voter approval, construction, maintenance, schools, parks, roads, county facilities, revenue streams, capital improvements, airports, utilities, hospitals, Board of Supervisors, community outreach, ballot measure.

Contra Costa County, located in the state of California, has certain provisions for authorizing an increase in bonded indebtedness. This authorization allows the county to incur additional debt through the issuance of bonds for specific purposes, such as funding public infrastructure projects or improving essential services. One type of authorization to increase bonded indebtedness in Contra Costa County is the General Obligation Bond (GO Bond). These bonds are secured by the county's taxing authority and require voter approval. The funds generated from GO Bonds can be allocated to various projects, including the construction and maintenance of schools, parks, roads, and other county facilities. Another type of authorization is the Revenue Bonds. Unlike GO Bonds, Revenue Bonds are backed by specific revenue streams, such as fees or tolls, rather than the county's taxing authority. These bonds are often issued to finance capital improvements for revenue-generating facilities like airports, utilities, or hospitals within Contra Costa County. The process of obtaining authorization to increase bonded indebtedness in Contra Costa County typically involves several steps. First, the county government identifies the need for additional funds and determines the specific purpose for which the money will be used. A comprehensive plan or proposal is then presented to the county's Board of Supervisors or other relevant governing body. Once the plan is approved by the governing body, it may be necessary to conduct community outreach and education to gain public support and explain the potential benefits of the increase in bonded indebtedness. Ultimately, the authorization process culminates in a ballot measure, where eligible voters in Contra Costa County have the opportunity to approve or reject the issuance of bonds. Keywords: Contra Costa County, California, authorization, increase, bonded indebtedness, General Obligation Bond, GO Bond, Revenue Bond, infrastructure projects, essential services, voter approval, construction, maintenance, schools, parks, roads, county facilities, revenue streams, capital improvements, airports, utilities, hospitals, Board of Supervisors, community outreach, ballot measure.