§ 31466. — 31466. (Amended by Stats. 2022, Ch. 422, Sec. 3.)

California § 31466.

• Jurisdiction: California
• Code SHC: Streets and Highways Code - SHC
• Div. 17.: DIVISION 17. TOLL FACILITIES AND RELATED MATTERS
• Ch. 7.: CHAPTER 7. Otay Mesa East Toll Facility Act

Text

SANDAG shall have and may exercise all rights and powers, expressed or implied, that are necessary to carry out the purposes and intent of this chapter, including the power to do all of the following:
(a)
Issue bonds payable from and secured by a pledge of SANDAG of all or any part of the revenues of SANDAG to finance the activities authorized by this act and for the purpose of financing the cost of acquiring or operating any project or to purchase, refund, or otherwise acquire, at or before maturity, any outstanding bonds meeting the requirements provided in this chapter, and to sell those bonds at public or private sale in the form and on the terms and conditions
as SANDAG shall approve.
(b)
Consult with counties, cities, towns, and other agencies and political subdivisions of this state and Mexico relating to plans and projects authorized by this chapter.
(c)
Fix and revise from time to time and charge and collect tolls and other charges described in Section 31474.
(d)
Acquire by dedication, gift, purchase, or eminent domain, and hold and dispose of any interests in property whether real or personal in the exercise of its powers and the performance of its duties under this chapter.
(e)
Establish and enforce policies, rules, and regulations for the administration, operation, and maintenance of facilities and services.
(f)
Pledge all or any part of the toll revenues to secure bonds and any repayment or reimbursement obligations of SANDAG to any provider of bond insurance or letter of credit or line of credit facility determined to be appropriate by SANDAG to provide for the payment of debt service on any bonds of SANDAG, and the state hereby pledges to, and agrees with, the holders of bonds that the state will not limit, alter, or restrict the rights hereby vested in SANDAG to fulfill each pledge of toll revenues and any other terms of any agreement made with or for the benefit of the holders of bonds or in any way impair the rights or remedies of the holders of the bonds or the providers of bond insurance or letter of credit or line of credit facilities.
(g)
Do all acts necessary and convenient for
the full exercise of the powers granted in this chapter.

Legislative History

Amended by Stats. 2022, Ch. 422, Sec. 3. (SB 985) Effective January 1, 2023.