6119-S AMH SCHD LUND 45

SSB 6119 - CC - H AMDS TO H COMM AMD (H-5327.2/98) 1038 ADOPTED 3-04-98

By Representative D. Schmidt

     On page 3, line 24, after Aassumption@ insert Aunder general election law with the city paying for the election costs@

     On page 3, line 26, after Adistrict@ insert Aunless each city that is partially included within any of the districts proposing to merge or consolidate indicates that it has no interest in assuming jurisdiction of the district@

     On page 3, line 31, after Adistrict.@  insert ANothing in this subsection shall be construed to prevent a district from issuing obligations on a parity with its outstanding obligations, to repeat terms and conditions of obligations provided with respect to earlier parity obligations, or to provide covenants that are customary for obligations of similar utilities whether those utilities are operated by cities or special purpose districts.@

EFFECT: (1) Clarifies that general election laws are used if a ballot proposition is submitted authorizing the assumption and that the city pays the election costs.  (2) Allows a merger or consolidation of districts during this period if any city that is partially included in a district indicates it has no interest in assuming jurisdiction of the district.  (3) Clarifies that normal parity bonds may be issued by a district during this period and normal bond covenants may be included on bonds issued by a district during this period.