Section 33354.8 Of Article 4.4. Forgiveness Of Debts And Loan From California Health And Safety Code >> Division 24. >> Part 1. >> Chapter 4. >> Article 4.4.
33354.8
. (a) On or before February 1, 2012, an agency or public
body shall adopt a resolution that declares whether or not it has
forgiven, during the period of time commencing January 1, 2010,
through December 31, 2011, the repayment, wholly or partially, of a
loan, advance, or indebtedness that has been owed by a public body to
the agency or an agency to the public body.
(b) The resolution shall specify all of the following:
(1) The name of the public body or agency.
(2) The amount of the forgiveness.
(3) The terms of the loan, advance, or indebtedness.
(4) The fiscal effect of the proposed forgiveness on the public
body.
(5) The fiscal effect of the proposed forgiveness on the agency.
(c) No less than 10 days after the adoption of the resolution, the
agency or public body shall transmit a copy of the resolution to the
legislative body and the Controller.