SAN FRANCISCO – California lawmakers have introduced legislation that would curb the use of long-maturity, non-callable capital appreciation bonds by school and community college districts.

Assembly members Joan Buchanan, D-Alamo, and Ben Hueso, D-San Diego, proposed Assembly Bill 182 on Friday that would restrict maturities, reduce maximum interest rates, limit ratio of total debt service to principal, and require call options on older maturities.

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