§ 102550. — 102550. (Added by Stats. 1971, Ch. 1374.)

California § 102550.

• 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. 3.: ARTICLE 3. Equipment Trust Certificates

Text

The district shall have power to purchase transit equipment such as cars, trolley buses and motorbuses, or rolling equipment, and may execute agreements, leases, and equipment trust certificates in the forms customarily used by private corporations engaged in the transit business appropriate to effect such purchase and leasing of transit equipment, and may dispose of such equipment trust certificates upon such terms and conditions as the board may deem appropriate. Payment for such equipment, or rentals therefor, may be made in installments, and the deferred installments may be evidenced by equipment trust certificates payable from any source or sources of funds
specified in such certificates that are or will be legally available to the district; and title to such equipment shall not rest in the district until the equipment trust certificates are paid.

Legislative History

Added by Stats. 1971, Ch. 1374.