§ 102510. — 102510. (Amended by Stats. 2006, Ch. 272, Sec. 37.)

California § 102510.

• Jurisdiction: California
• Code PUC: Public Utilities Code - PUC
• Div. 10.: DIVISION 10. TRANSIT DISTRICTS
• Part 14.: PART 14. SACRAMENTO REGIONAL TRANSIT DISTRICT
• Ch. 7.: CHAPTER 7. Bonds and Other Evidences of Indebtedness
• Art. 1.: ARTICLE 1. Authorization and Issuance of General Obligation Bonds

Text

Whenever the board deems that the expenditure of money for the purposes for which the bonds were authorized by the voters is impractical or unwise, it may, by ordinance adopted by a two-thirds vote of the board, so declare and call an election to be held in the district for the purpose of submitting to the qualified voters thereof the proposition of incurring indebtedness by the issuance of those bonds for some other purposes or, in the case where bonds have been sold, the proposition to use the proceeds for some other purposes. The procedure, so far as
applicable, shall be the same as when a bond proposition is originally submitted.

Legislative History

Amended by Stats. 2006, Ch. 272, Sec. 37. Effective January 1, 2007.