Report 2011-118/2011-613 Recommendation Responses
Report 2011-118/2011-613: Conduit Bond Issuers: Issuers Complied With Key Bond Requirements, but Two Joint Powers Authorities' Compensation Models Raise Conflict-of-Interest Concerns (Release Date: August 2012)
Recommendation for Legislative Action
If the Legislature believes that the compensation model is appropriate, whereby the private firms that employ consultants are paid a percentage of the fees associated with bond issuances, the Legislature should enact legislation that creates a clearly stated exemption from California Government Code Section 1090. On the other hand, if the Legislature believes that this compensation model is not appropriate, it should enact legislation that clearly proscribes, or limits, such a model.
Description of Legislative Action
Legislation has not been introduced to address this recommendation.
- Legislative Action Current As-of: January 2016
California State Auditor's Assessment of Annual Follow-Up Status: No Action Taken
Description of Legislative Action
N/A
- Legislative Action Current As-of: February 2014