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<br />8A <br />Page 3 <br /> <br />Short: www.cacities.ora/resourcefiles/28385.BallotMeasurePublicSafetvShortVersion.odf <br /> <br />Long: www.cacities.ora/resourcefiles/28384.BallotMeasurePublicSafetvLonaVersion.odf <br /> <br />Additional information is posted on the coalition's campaign Web site at <br />www.savelocalservices.com. City officials are urged to only visit this Web site from a private <br />computer and not on city time. <br /> <br />The League will continue to update city officials with further developments through the regional <br />public affairs managers, City Advocate Weekly and the listservs. <br /> <br />'S8 67' Continued from Page 1... <br /> <br />Enroll Now: Nov. 6 Deadline Looms for Prop.1A Securitization Program <br /> <br />California Communities announced that as of Tuesday, Oct. 20, approximately 1,325 agencies - <br />57 counties, 395 cities and 873 special districts - had enrolled in the program. This totals <br />approximately $1.5 billion for cities and counties. <br /> <br />The California Department of Finance set the interest rate for the Prop. 1A loan at 2 percent. The <br />state will repay local agencies that do not securitize by June 30, 2013. <br /> <br />It is extremely important that cities interested in securitizing the lost amount of property tax <br />complete the required documents immediately. <br /> <br />Bond counsel to California Communities must receive local agency approved and signed <br />documents by Friday, Nov. 6. <br /> <br />Transaction Schedule <br /> <br />. Nov. 6: Local agency approved and signed documents must be received by Orrick, <br />Herrington & Sutcl.iffe <br />. Nov. 10: Bond pricing estimated <br />. Nov. 19: Bond closing estimated <br />. Jan. 15 and May 3: Distribution of bond proceeds to local agencies <br /> <br />Information for Hardship Cases <br /> <br />Hardship applicants must first participate in the Prop. 1 A Securitization Program. The Director of <br />Finance may permit a reallocation of the property tax reduction amount only to the extent that the <br />agency did not receive bond proceedings. <br /> <br />Local agencies can enroll in the securitization program online at the California Communities Web <br />site at httos:/lwww.osacommunities.ora/fs/aoos/?aoo=22. <br /> <br />For questions about the Prop. 1A Program email Proo1A@cacommunities.ora or call (800) 635- <br />3993, ext. 260. <br /> <br />'S8 65' Continued from Page 1... <br /> <br />Pursuant to 58 65, the payments from November 2009 through March 2010 will be delayed and <br />paid to local governments in April 2010. The April-June 2010 payments will be made on time. <br /> <br />The State Controller has posted information on its Web site with calculated amounts for the July- <br />September 2009 deferral repayments. <br /> <br />Details <br /> <br />S8 65 is now Chapter 633, Statutes 2009 Urgency. <br /> <br />3 <br />