Supervisors approve securitization of Prop. 1A funding
Last updated 11/26/2009 at Noon
The California Statewide Communities Development Authority has been approved to operate a securitization program where local governments sell the CSCDA their receivables owed by the State of California.
On October 20 the San Diego County Board of Supervisors voted 5-0 to approve participation in the CSCDA securitization program.
In addition to covering the county’s general fund and library fund, the securitization authorization also covers the county’s special districts which receive property tax revenue.
“It’s positive,” said San Diego County Treasurer-Tax Collector Dan McAlli...