§ 102551. — 102551. (Added by Stats. 1971, Ch. 1374.)

California § 102551.

• 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 agreement to purchase or lease may direct the vendor or lessor to sell and assign or lease the rolling equipment to a bank or trust company duly authorized to transact business in the State of California as trustee, for the benefit and security of the equipment trust certificates and may direct such trustee to deliver the rolling equipment to one or more designated officers of the district and may authorize the district to simultaneously therewith execute and deliver an installment purchase agreement or a lease of the equipment to the district.

Legislative History

Added by Stats. 1971, Ch. 1374.