CA AB2551

Requires bond issue statements submitted to voters to include the best estimate of total debt service (principal and interest) that would be required if all bonds are issued and sold

Maintains existing requirements for statements to include estimated tax rates for the first fiscal year after initial bond sale, final bond sale (if sold in series), and the highest tax rate needed over the bond's lifetime

Allows statements to optionally include information about assumptions used to determine debt service estimates

Applies to all bond issues proposed by counties, cities, districts, or other political subdivisions and their agencies or departments

Requires statements to be filed with the elections official no later than 88 days before the election and mailed with sample ballots