AB 1908

Under existing law, bonds, warrants, contracts, obligations, and evidences of indebtedness of a public agency, for the purpose of validating proceedings, are deemed to be in existence upon their authorization, as specified. This bill would provide that the obligations described above include a victims’ compensation fund, established to address payments to settle or pay awards to victims of childhood sexual assault, as specified, which is authorized as of the date the establishment of such a fund via adoption of a resolution or ordinance by a county board of supervisors. The bill would provide that, for purposes of determining the validity of refunding bonds to refund a tort action judgment entered against a public agency, as specified, indebtedness is deemed to be in existence on the date of adoption by the governing body of the public agency of a resolution ordinance, as specified. The bill would provide that whether a tort action judgment or settlement or a victims’ compensation fund is deemed to be in existence is not contingent on the timing of the commencement of a tort action, the court’s issuance of a judgment, the entry into a settlement, or the victims’ compensation fund’s claim period.