California § 188.51. 188.51. (Added by Stats. 2001, Ch. 907, Sec. 2.)

California Statutes

§ 188.51. — 188.51. (Added by Stats. 2001, Ch. 907, Sec. 2.)

California·Code SHC Streets and Highways Code - SHC·Div. 1. DIVISION 1. STATE HIGHWAYS·Ch. 1. CHAPTER 1. Administration·Art. 5. ARTICLE 5. Funds for Highway and Public Mass Transit Guideway Purposes

(a)If the department utilizes its authority under Chapter 4 (commencing with Section 14550) of Part 5.3 of Division 3 of the Government Code to issue federal highway grant anticipation notes (GARVEE Bonds) from the state share of federal obligation authority to fund the projects identified in subdivision (a) of Section 188.5, Section 14553.6 of the Government Code shall not apply.

(b)State expenditures for the purposes of subdivision (a) shall not exceed 5 percent of the annual amount of federal obligation authority received by the state for a period determined by the department.

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(a)
If the department utilizes its authority under Chapter 4 (commencing with Section 14550) of Part 5.3 of Division 3 of the Government Code to issue federal highway grant anticipation notes (GARVEE Bonds) from the state share of federal obligation authority to fund the projects identified in subdivision (a) of Section 188.5, Section 14553.6 of the Government Code shall not apply.
(b)
State expenditures for the purposes of subdivision (a) shall not exceed 5 percent of the annual amount of federal obligation authority received by the state for a period determined by the department.

California § 188.51. (188.51. (Added by Stats. 2001, Ch. 907, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.