Proposition H of 2001 amended San Francisco's City Charter to create Section 9.107.8. The H Bond Authority is an unlimited revenue bond authority for the San Francisco Board of Supervisors to issue revenue bonds to finance or refinance any renewable energy or conservation facility. Unlike Proposition B, the H Bond Authority may be used for private sector as well as government facilities, does not require that bonds be repaid from bill savings. Unlike Prop B, H Bonds are is not capped at $100 million.
Approved by San Francisco Voters on November 6, 2001
Issued to finance or refinance the acquisition, construction, installation, equipping, improvement or rehabilitation of equipment or facilities for renewable energy and energy conservation.
Except as expressly provided in this Charter, all revenue bonds may be issued and sold in accordance with state law or any procedure provided for by ordinance. (Amended November 2001)
SAN FRANCISCO CHARTER
SECTION 9.107.8: REVENUE BONDS.
The Board of Supervisors is hereby authorized to provide for the issuance of revenue bonds. Revenue bonds shall be issued only with the assent of a majority of the voters upon any proposition for the issuance of revenue bonds, except that no voter approval shall be required with respect to revenue bonds:
For more information or to sign up for Local Power News, please visit Local Power.
.......................
Founder and Director of Local Power, Paul Fenn is author of California's Community Choice law, Chapter 838 of 2002, which allows municipalities to switch their communities to alternative energy providers - as well as author of San Francisco's 2001 voter-approved "Solar Bond" authority, as well as a plan to use H Bonds and Community Choice aggregation to build the world's largest solar power plant in San Francisco starting next year. Mr. Fenn is also author of new state "Solar Networking" legislation, Senate 697, sponsored by Pomona Senator Nell Soto. Local Power is based in Oakland, California and may be found at www.local.org
Copyright 2003 by Local Power.