California Streets and Highways Code

§ 31020

SHC § 31020 Effective Jul 18, 2005Div. 17 · Ch. 4.5

Statute text

Notwithstanding Section 30953, as amended by the act adding this section in the 2005–06 Regular Session, revenue generated from the seismic retrofit surcharge imposed pursuant to subdivision (a) of Section 31010 shall be deposited in the account until obligations secured by that seismic retrofit surcharge and issued by the California Infrastructure and Economic Development Bank under Chapter 4.6 (commencing with Section 31070) are no longer outstanding as that term is defined in the constituent instruments defining the rights of the holders of those obligations. After obligations of the bank secured by toll funds are no longer outstanding, all toll revenues generated from bridges in the geographic jurisdiction of the Metropolitan Transportation Commission shall be deposited in the Bay Area Toll Account.

Legislative history

Repealed and added by Stats. 2005, Ch. 71, Sec. 18. Effective July 18, 2005.