California Public Utilities Code

§ 30952

PUC § 30952Div. 10 · Part 3 · Ch. 7 · Art. 4

Statute text

(a)Notwithstanding any provision of Article 7.7 (commencing with Section 53859) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code, the district may borrow money for the purchase of buses and rolling stock, or transportation facilities, or for capital improvement, by the issuance of grant anticipation notes issued pursuant to that article that are 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.

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Legislative history

Amended by Stats. 1984, Ch. 153, Sec. 2.