California Statutes
§ 120651. — 120651. (Added by Stats. 1983, Ch. 599, Sec. 2.)
California·Code PUC Public Utilities Code - PUC·Div. 11. DIVISION 11. TRANSIT DEVELOPMENT BOARDS·Ch. 6. CHAPTER 6. Bonds and Other Evidences of Indebtedness·Art. 2. ARTICLE 2. Equipment Trust Certificates
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 as trustee for the benefit and security of the equipment trust certificates, and may direct the trustee to deliver the rolling equipment to one or more designated officers of the board and may authorize the board to simultaneously therewith execute and deliver an installment purchase agreement or a lease of the equipment to the board.
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California § 120651. (120651. (Added by Stats. 1983, Ch. 599, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1983, Ch. 599, Sec. 2.