§ 29240. — 29240. (Amended by Stats. 1967, Ch. 1518.)

California § 29240.

• 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. 6.: ARTICLE 6. Revenue Bonds

Text

As an alternative procedure for the raising of funds, the district is hereby authorized to issue bonds, payable from revenues of any facility or enterprise to be acquired or constructed by the district, in the manner provided by the Revenue Bond Law of 1941, all of the provisions of which are hereby made applicable to the district, provided however, that no election shall be required in the case of revenue bonds authorized by the board of directors for rapid transit facilities and any and all parts thereof and all additions, extensions and improvements thereto and all other facilities authorized to be acquired, constructed or completed by the district under this part,
if prior to such authorization a proposition for the issuance of general obligation bonds has been adopted by vote of the qualified electors of the district pursuant to Section 29168; and provided, further, that nothing contained in the Revenue Bond Law of 1941 shall be deemed to restrict the power of the district to levy taxes and use their proceeds for all district purposes within the restrictions established by this part.

Legislative History

Amended by Stats. 1967, Ch. 1518.