|
Marks-Roos
Named after its legislative sponsors, the Marks-Roos Local Bond Pooling Act (California Government Code §6584-6599.1) is a law enacted by the California Legislature in 1985. The main purpose of this statute is to allow local California governments to work together to get financing in a way that will conceivably lower borrowing costs. Underlying this concept is the belief that money can be saved through economies of scale by selling one large bond issue to finance several small projects. Through this legislation, local municipalities and other political subdivisions can join together by signing a Joint Powers Agreement, which creates a Joint Powers Authority A joint powers authority (JPA) is an entity permitted under the laws of some U.S. states, whereby two or more public authorities (e.g. local governments, or utility or transport districts), not necessarily located in the same state, may jointly e ... ("JPA"). In its broadest terms, the Marks-Roos Act authorizes JPAs to i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint Powers Authority
A joint powers authority (JPA) is an entity permitted under the laws of some U.S. states, whereby two or more public authorities (e.g. local governments, or utility or transport districts), not necessarily located in the same state, may jointly exercise any power common to all of them. Joint powers authorities may be used where: * an activity naturally transcends the boundaries of existing public authorities. An example is the Transbay Joint Powers Authority, set up to promote the construction of a new transit center in San Francisco, with several transportation boards and counties around the San Francisco Bay Area as members. * by combining their commercial efforts, public authorities can achieve economies of scale or market power. An example is National IPA, a purchasing consortium of local government and education agencies, also known as cooperative purchasing. Joint powers authorities are particularly widely used in California (where they are permitted under Section 6502 o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California Legislature
The California State Legislature is the bicameral state legislature of the U.S. state of California, consisting of the California State Assembly (lower house with 80 members) and the California State Senate (upper house with 40 members). Both houses of the Legislature convene at the California State Capitol in Sacramento. The California State Legislature is one of ten full-time state legislatures in the United States. The houses are distinguished by the colors of the carpet and trim of each house: the Senate uses red and the Assembly uses green, inspired by the United Kingdom's House of Lords and House of Commons respectively. The Democratic Party currently holds veto-proof supermajorities in both houses of the California State Legislature. The Assembly consists of 60 Democrats and 20 Republicans, while the Senate is composed of 30 Democrats and 10 Republicans. Except for a brief period from 1995 to 1996, the Assembly has been in Democratic hands since the 1970 electi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economies Of Scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of Productivity, output produced per unit of cost (production cost). A decrease in unit cost, cost per unit of output enables an increase in scale that is, increased production with lowered cost. At the basis of economies of scale, there may be technical, statistical, organizational or related factors to the degree of Market (economics), market control. Economies of scale arise in a variety of organizational and business situations and at various levels, such as a production, plant or an entire enterprise. When average costs start falling as output increases, then economies of scale occur. Some economies of scale, such as capital cost of manufacturing facilities and friction loss of transportation and industrial equipment, have a physical or engineering basis. The economic concept dates back to Adam Smith and the idea o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Proposition 13
Proposition 13 (officially named the People's Initiative to Limit Property Taxation) is an amendment of the Constitution of California enacted during 1978, by means of the initiative process, to cap property taxes and limit property reassessments to when the property changes ownership, and to require a 2/3 majority for tax increases in the state legislature. The initiative was approved by California voters in a primary election on June 6, 1978, by a nearly two to one margin. It was upheld by the Supreme Court in 1992 in ''Nordlinger v. Hahn'', . Proposition 13 is embodied in Article XIII A of the Constitution of the State of California. The proposition decreased property taxes by assessing values at their 1976 value, limiting the rate of taxation to 1% of the assessed value, and restricting annual increases of assessed value to an inflation factor, not to exceed 2% per year. It prohibits reassessment of a new base year value except in cases of (a) change in ownership, or (b) com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
