California Public Utilities Code

§ 103360

PUC § 103360 Effective Sep 29, 1987Div. 10 · Part 15 · Ch. 5 · Art. 10

Statute text

(a)Limited tax bonds shall be issued pursuant to a resolution adopted at any time, and from time to time, by the district by a two-thirds vote of all members of the board of the district.

(b)The district may, from time to time, issue bonds in accordance with the Revenue Bond Law of 1941 (Chapter 6 (commencing with Section 54300) of Part 1 of Division 2 of Title 5 of the Government Code), for the purposes set forth in Section 103282, which shall constitute an “enterprise” within the meaning of Section 54309 of the Government Code, and the proceeds of the retail transactions and use tax shall constitute “revenues” within the meaning of Section 54315 of the Government Code. Article 3 (commencing with Section 54380) of Chapter 6 of Part 1 of Division 2 of Title 5 of the Government Code and the limitations set forth in subdivision (b) of Section 54402 and in Sections 54403 and 54418 of the Government Code do not apply to the issuance and sale of bonds pursuant to this article. Instead, the district shall authorize the issuance of bonds by resolution, which resolution shall specify all of the following:

(1)The purposes for which the bonds are to be issued, which may be general.

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Legislative history

Added by Stats. 1987, Ch. 1328, Sec. 6. Effective September 29, 1987.