§ 29235. — 29235. (Added by Stats. 1984, Ch. 153, Sec. 1.)

California § 29235.

• 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. 5.: ARTICLE 5. Temporary Borrowing

Text

(a)
The district may borrow money for the purchase of transit vehicles, as defined in subdivision (b) of Section 99501, transit equipment, or transportation facilities, or for capital improvements, by the issuance of grant anticipation notes issued pursuant to Article 7.7 (commencing with Section 53859) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code payable on the basis of any of the following:
(1)
From appropriated state funds.
(2)
From other funds committed, but not
appropriated, and evidenced by an appropriate document of intent.
(3)
On specific dates or events and evidenced by an appropriate document of intent. There shall be no liability on the state for funds appropriated but not allocated.
(b)
In addition to the grant money that may be pledged for the payment of the notes pursuant to Section 53859.06 of the Government Code, the district may pledge as security, on terms that it deems appropriate, the transit vehicles or equipment, transportation facilities, or capital improvements acquired with the proceeds of the notes.

Legislative History

Added by Stats. 1984, Ch. 153, Sec. 1.