§ 4134 Harbor Project Funding Decisions

The law tells the county board to review a harbor commission's report, decide which harbors to improve, figure out if they will use bond money or a special tax (up to 20 years) to pay for it, and how much money to raise.

Key Takeaways

•The board must act on the Harbor Commission's report and decide which harbor improvements to pursue.
•Funding can come from county bonds, a special tax, or a combination of both.
•Any special tax can only be collected for a maximum of 20 years.

Example

A coastal county gets a report recommending upgrades to its main harbor. The board must decide whether to borrow money by selling bonds or charge a special tax to fund the project.

The board looks at the report, picks the harbor to upgrade, chooses to issue bonds for part of the cost and maybe add a small tax for the rest, making sure the tax lasts no longer than 20 years.

How to Calculate

Bond amount = Total project cost × Bond financing percentage

Find the total cost of the harbor improvement project.
Decide what share of that cost will be financed with bonds (e.g., 60%).
Multiply the total cost by the bond financing percentage to get the bond amount.

The harbor upgrade is estimated to cost $500,000, and the board wants to finance 60% of it with bonds.

Result: 300000

Upon receiving the report and recommendations of the Harbor Commission, the board of supervisors shall consider and determine the feasibility of the project or projects submitted, may call upon the commission for further surveys and reports and shall determine (1) what harbor or harbors, and by what specific project or projects, or parts thereof, it will be in the interest of the county to improve, develop, or protect, (2) for which thereof, if any, moneys should be provided by the issuance of bonds of the county and the amount of bonds required to be issued and sold therefor, and (3) for which thereof, if any, moneys should be raised by the levy of a special tax at a specified rate over a specified number of years not exceeding 20 years. (Added by Stats. 1945, Ch. 1500.)

Key Takeaways

•The board must act on the Harbor Commission's report and decide which harbor improvements to pursue.
•Funding can come from county bonds, a special tax, or a combination of both.
•Any special tax can only be collected for a maximum of 20 years.

Example

A coastal county gets a report recommending upgrades to its main harbor. The board must decide whether to borrow money by selling bonds or charge a special tax to fund the project.

The board looks at the report, picks the harbor to upgrade, chooses to issue bonds for part of the cost and maybe add a small tax for the rest, making sure the tax lasts no longer than 20 years.

How to Calculate

Bond amount = Total project cost × Bond financing percentage

Find the total cost of the harbor improvement project.
Decide what share of that cost will be financed with bonds (e.g., 60%).
Multiply the total cost by the bond financing percentage to get the bond amount.

The harbor upgrade is estimated to cost $500,000, and the board wants to finance 60% of it with bonds.

Result: 300000

Key Takeaways

Example

How to Calculate

Key Terms

References

§ 4134 Harbor Project Funding Decisions

Key Takeaways

Example

How to Calculate

Key Terms

References

Key Takeaways

Example

How to Calculate

Key Terms

Related Statutes

References

Key Takeaways

Example

How to Calculate

Key Terms

Related Statutes

References