Extends the period fire districts can issue bond anticipation notes for capital projects to 10 years.
This bill allows fire districts to issue one-year bond anticipation notes for up to 10 years to finance capital projects. Previously, such notes could only be issued for up to three years. This change aims to provide more flexibility in financing long-term projects without needing to issue long-term bonds or enter into lease purchase agreements. Funds from bond issuances can be used to redeem the notes.
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