§ 105209. — 105209. (Added by Stats. 2002, Ch. 341, Sec. 4.)

California § 105209.

• Jurisdiction: California
• Code PUC: Public Utilities Code - PUC
• Div. 10.: DIVISION 10. TRANSIT DISTRICTS
• Part 16.: PART 16. SONOMA-MARIN AREA RAIL TRANSIT DISTRICT
• Ch. 6.: CHAPTER 6. Bonds and Other Evidence 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 vote of two-thirds of all members 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 these 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

Added by Stats. 2002, Ch. 341, Sec. 4. Effective January 1, 2003.