CA SB1169

Extends the repayment period for loans from 20 years to 35 years and increases the maximum interest rate from 4.25% to 5.5% annually for the Los Angeles County Flood Control District.

Removes the $4,500,000 aggregate borrowing limit and eliminates caps on bond issuance, allowing the district to borrow and issue bonds without a specified maximum amount.

Modifies tax levy requirements to comply with Article XIII C of the California Constitution for repaying district loans.

Authorizes the district to obtain loan guarantees in addition to direct borrowing from federal agencies, nonprofits, and the County of Los Angeles.

Makes legislative findings that a special statute is necessary due to the district's unique circumstances, federal borrowing limitations, and need to address infrastructure and climate-related flood risks.