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<br />7A <br />EASIER WAY TO FINANCE CAPITAL PROJECTS-FAST Page 3 <br />Carifomia Communities Introduces the $500 Milfion Funding Assets Statewide (FAST) Program <br /> <br />California Communities, the joint powers <br />authority established by the League of California <br />Cities and the California State Association of <br />Counties (CSAC), is pleased to introduce the <br />Funding Assets Statewide (FAST) program - a <br />new financing option providing California cities and <br />counties easy, efficient and low-cost financing for <br />capital projects and equipment. <br /> <br />Do you have a capital project or major <br />equipment purchase that needs to be completed <br />quickly? <br /> <br />Do you have a financing need that seems <br />to be just too small to justify all the steps needed <br />to put together another bond transaction? <br /> <br />· Do you have a project which seems to fall <br />outside the scope of your traditional bank/vendor <br />leasing program? <br /> <br />Does the whole public market financing <br />process just seem to be too much work with all <br />the competing priorities facing your city today? <br /> <br />If your answer to any of these questions is <br />"yes," California Communities' FAST program may <br />be for you! <br /> <br />Developed by the League and CSAC after a <br />competitive RFP process, FAST can provide <br />significant cost savings and other benefits versus <br />traditional COP/Lease Revenue Bonds, Master <br />Lease programs and vendor leasing alternatives <br /> <br />California Communities will make available up <br />to $500 million under the FAST program, to be <br />used by local agencies on a first-come, first- <br />served basis. Local agencies that foresee the <br />need to finance capital project expenditures or <br />major equipment acquisition during the next 12 <br />months are encouraged to apply now <br /> <br />For more information, please contact either of <br />the following individuals: <br /> <br />Dan Harrison <br />Director of Admin. Services <br />League of California Cities <br />(916) 658-8267 <br />dharrison@cacities.org <br /> <br />James Hamill <br />Program Manager <br />California Communities <br />(925) 933-9229 x216 <br />jhamill@cacommunities.org <br /> <br />Terrence Murphy <br />Program Manager <br />California Communities <br />(925) 933-9229 x223 <br />tmurphy@cacommunities.org <br /> <br />. . . . . . . . . . . . . . . . . . . . . . . . <br /> <br />LEGISLATIVE ROUNDUP: <br />ENVIRONMENTAL, ADMINISTRATIVE <br />SERVICES, AND PUBLIC WORKS <br /> <br />It was down to the wire last week for several <br />key bills followed by the League - as well as <br />some modest "sleeper" bills. What was the <br />Governor going to do? There was a mix of sur- <br />prise, suspense, and no surprise. Here is a <br />summary of some of the key environmental bills, <br />as well as a sprinkling of bills in other areas. <br /> <br />Environmental <br /> <br />In the environmental arena, 2006 was quite an <br />impressive year. The Governor signed AS 32 <br />(Nuflez), which dealt with climate change - one of <br />the most highly pUblicized bills of the year. The <br />League was neutral on AS 32. Although the flood <br />bills stalled, action on a variety of other environ- <br />mental bills will be of interest to cities. <br /> <br />For small cities, one of the most important <br />bills is S8 1733 (Aanestad) and its trailer bill, AS <br />1752 (Levine). S8 1733 makes changes to the <br />mandatory minimum penalty law for water quality <br />violations. It prOVides more flexibility to small cities <br />Continued on Page 4 <br /> <br />Visit the League's Official Website..www.caclties.org <br /> <br />PRIORITY FOCUS. PAGE 3 <br />October 6, 2006 . Issue #39 <br />