§ 29159. — 29159. (Amended by Stats. 1961, Ch. 1967.)

California § 29159.

• Jurisdiction: California
• Code PUC: Public Utilities Code - PUC
• Div. 10.: DIVISION 10. TRANSIT DISTRICTS
• Part 2.: PART 2. SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT
• Ch. 8.: CHAPTER 8. Bonds and Other Evidences of Indebtedness
• Art. 1.: ARTICLE 1. Authorization of General Obligation Bonds

Text

The resolution calling the special election shall contain:
(a)
A statement of the general object and purpose of incurring the indebtedness.
(b)
Statement of the estimated cost of the proposed work and improvements.
(c)
The amount of the principal of the indebtedness to be incurred therefor.
(d)
The maximum term, which shall not exceed fifty (50) years, that the bonds proposed to be issued shall run before
maturity.
(e)
The maximum rate of interest to be paid on said indebtedness, which shall not exceed six (6) percent per annum.
(f)
A statement declaring whether interest, to be paid upon such bonds during the estimated period of construction of the works of the district and for three years thereafter, or less, shall be a capital charge, and shall be payable out of the principal sum realized from the sale of bonds, and, if so, to what extent.
(g)
An estimate of the taxes required to be levied for all district purposes, the sources from which such taxes shall be obtained, and the proportion or amount to be derived from each source.
(h)
The date on which the special bond election will be held, the hours during the day which the polls will be open, and the
manner of voting for and against the incurring of such indebtedness; provided, however, the district shall have no power or authority, within six (6) months after an election at which a proposition submitted to the qualified electors of the district failed to receive the requisite number of votes as provided in Section 29168, to call or order another election for incurring any indebtedness for purposes substantially the same as voted upon at such prior election. If the special bond election is consolidated with any other election, the hours during which the polls shall be kept open in each county shall be the same as those provided for the election with which the election called pursuant to this part is consolidated and reference to that effect in the resolution shall be sufficient without specifying the particular hours.

Legislative History

Amended by Stats. 1961, Ch. 1967.