California Streets and Highways Code

§ 31475

SHC § 31475 Effective Jan 1, 2023Div. 17 · Ch. 7

Statute text

(a)Toll revenues under this chapter may be used to reimburse or finance the costs incurred in connection with the implementation, construction, maintenance, or operation of a project, including reimbursement of federal funds specifically allocated to SANDAG for a project or projects by the federal government or other funds from funding sources that are not otherwise available to state agencies for transportation-related projects. SANDAG shall be reimbursed for administrative costs in an amount that shall not exceed 3 percent of toll revenues under this chapter.

(b)Toll revenues shall be used to pay for costs in the following categories:

(1)Payments pursuant to bonds and resolutions, indentures, and other constituent instruments defining the rights of the holders of bonds and any repayment or reimbursement obligations of SANDAG to any providers of bond insurance or letters of credit or lines of credit related to bonds.

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Legislative history

Amended by Stats. 2022, Ch. 422, Sec. 8. (SB 985) Effective January 1, 2023.