reglab/statecodes huggingface dataset:
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 3 - General Powers and Duties of the Authority › Section 31130.

31130. When necessary to facilitate movement of traffic, the authority may limit the use of the toll tunnel on a credit basis to particular classes of vehicles.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 3 - General Powers and Duties of the Authority › Section 31131.

31131. The authority may adopt rules and regulations not inconsistent with the Vehicle Code for the control of traffic in the toll tunnel, to aid and insure the safe and orderly flow of traffic, and shall so far as practicable notify the public of such rules and regulations by signs placed along the route of the toll tunnel.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 3 - General Powers and Duties of the Authority › Section 31132.

31132. The California Highway Patrol shall have the authority and it shall be its duty to provide for proper and adequate policing of the toll tunnel, to insure the enforcement thereon of the Vehicle Code and rules and regulations adopted by the authority pursuant to Section 31131, and to cooperate with the authority, to the end that the toll tunnel be operated at all times in such a manner as to carry traffic efficiently.
All required accident and supplemental reports, and all other reports made to the California Highway Patrol by any peace officer or employee of the Department of Motor Vehicles relative to accidents and incidents occurring on property of the authority shall be immediately available for the confidential use of the authority.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31140.

31140. Whenever the authority determines that it is for the best interests of the public highways in the state that the toll tunnel be constructed and operated by the authority, based upon preliminary estimates of the cost of construction thereof, an estimate of the amount required to be raised for that purpose by the issuance of revenue bonds, and a statement of the probable amount of money, property, materials, or labor to be contributed from other sources in aid of the construction prepared by its staff, it shall adopt a resolution declaring that public interest and necessity require the construction of the toll tunnel and authorizing the issuance of revenue bonds for the purpose of obtaining funds in an amount not in excess of that estimated to be required for the construction thereof.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31141.

31141. All bonds authorized pursuant to this chapter shall be issued in the name of the authority and shall constitute obligations of the authority only. Such bonds shall be identified as toll tunnel bonds and shall contain a recital on the face thereof that the payment or redemption of the bonds and the payment of the interest thereon is secured by a direct and exclusive charge and lien upon the tolls and other revenues of any nature whatever received from the operation of the toll tunnel, and that neither the payment of the principal or any part thereof or any interest thereon, constitutes a debt, liability, or obligation of the state or of El Dorado County.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31142.

31142. The authority shall determine the form, conditions, and denominations of all bonds, the dates which the bonds to be sold shall bear, and the interest rate thereon which shall not exceed 6 percent per annum. The rate of interest need not be uniform for all bonds of the same authorized issue. Principal and interest of the bonds shall be payable at such places as are fixed and determined by the authority. The bonds may contain provisions for registration as to principal only and as to both principal and interest. The bonds shall be issued in coupon form with interest payable at such times as are determined by the authority, and shall mature at such times and in such amounts as the authority prescribes.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31143.

31143. The authority may provide for the retirement of the bonds at any time or times prior to their maturity, in such manner and upon payment of such premiums as may be fixed and determined in the proceedings providing for the issuance of the bonds and referred to therein.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31144.

31144. All bonds shall be signed by the treasurer and countersigned by the chairman. The signatures of the treasurer and the chairman may be by facsimile, but said bonds shall be authenticated by such signatures as the bond resolution or indenture may require. All interest coupons shall bear the facsimile signature of the treasurer. In case any officer whose signature or countersignature appears on the bonds or coupons ceases to hold his office before the delivery of the bonds to the purchaser, his signature or countersignature is nevertheless valid and sufficient for all purposes the same as if he had remained in office until the delivery of the bonds.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31145.

31145. All revenue bonds authorized pursuant to this chapter may be issued and sold by the authority from time to time and in such amounts as the authority deems necessary to provide sufficient funds for the purposes for which the bonds were authorized, including the payment of interest on the bonds during the period of actual construction, and for a period of six months thereafter, and the proceeds thereof are available for those purposes.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31146.

31146. Bonds authorized pursuant to this chapter may be sold below the par or face value thereof, but the sale price shall not be less than that which will yield the purchaser 6 percent a year according to standard tables of bond values, and shall include the interest which has accrued thereon up to the date of delivery of the bonds.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31147.

31147. Successive issues of bonds within the limits of the original authorization for the issuance of bonds for the acquisition or construction of the toll tunnel shall have equal preference with respect to the redemption thereof and the payment of interest thereon, but the authority may fix different maturity dates, serially or otherwise, for successive issues under any one original authorization.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31148.

31148. All bonds issued and sold pursuant to this chapter shall be sold on sealed proposals to the highest and best bidder after such advertising for bids as the authority deems proper. The authority may reject any and all bids submitted and may thereafter sell the bonds so advertised for sale at private sale under such terms and conditions as it deems most advantageous to its own interest, but the bonds shall not be sold at a price below that of the best bid which was rejected.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31149.

31149. Temporary or interim bonds, certificates, or receipts, signed by the treasurer, of any denomination whatever and with or without coupons attached thereto, may be issued and delivered until the definitive bonds are executed and available for delivery.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31150.

31150. The purchase price of all bonds issued pursuant to this chapter shall be paid to the treasurer for the account of the authority.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31151.

31151. The authority may include in the proceedings authorizing the issuance of bonds any provisions not inconsistent with this chapter which limit, restrict, or regulate the holding, deposit, investment, and application of money consisting of the proceeds from the sale of the bonds or the tolls and other revenues received from the operation of the toll tunnel, and such provisions shall constitute a contract with the holders of the bonds and be binding upon the authority as long as the bonds are outstanding.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31152.

31152. The authority may provide in the proceedings authorizing the issuance of bonds for the setting up of one or more reserve funds out of the proceeds of the bonds or out of the tolls and other revenues not needed for the payment of interest on the bonds and the principal of the bonds as they currently mature, and for the preservation and continuance thereof in a manner to be provided therein, and may also require the immediate application of all surplus money in any such toll revenue fund to the retirement, by call or purchase, of the bonds prior to maturity in such manner and upon such terms and the payment of such premiums as the authority deems advisable.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31153.

31153. The authority may provide in the proceedings authorizing the issuance of bonds, or may otherwise agree with the purchasers of bonds, regarding the deposit of all money constituting the Acquisition and Construction Fund and the Toll Revenue Fund, and may provide for the deposit of such money at such times, with such depositaries or paying agents, and upon the furnishing of such security as may meet with the approval of the purchasers of the bonds. The depositaries and security provided for or agreed upon, however, shall be qualified and eligible in accordance with law.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31154.

31154. The authority may provide in the proceedings authorizing the issuance of bonds for the carrying of insurance as authorized by this chapter, and the purchase and carrying of such insurance shall thereupon be obligatory upon the authority and be paid for out of the Toll Revenue Fund as may be specified in the proceedings.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31155.

31155. Whenever any bonds are to be issued pursuant to this chapter, the authority, from time to time, upon such terms and conditions in all respects as it approves and consistently with this chapter, may enter into indentures or agreements containing any or all of the following provisions:
(a) Providing for the amount, form, maturities, registration, and transfer and interchange of the bonds and coupons and the terms and conditions upon which they shall be issued, sold, paid, retired, funded, and refunded.
(b) Providing for a sinking fund for the bonds and designating a trustee or trustees, which shall be a bank or trust company or banks or trust companies duly qualified to do business in this state, to receive and disburse the revenues of the toll bridge works or improvement.
(c) Providing that as long as any of such bonds are outstanding there shall be raised in each year by tolls not less than the minimum amounts required for interest, sinking fund, redemption, and reserve requirements for the bonds, in addition to the amount needed for current operating and maintenance expenses, including insurance costs, required to be paid from such sources.
(d) Such other provisions for the protection of the holders of the bonds as the authority approves including, without limiting (a), (b), or (c), provisions that in the event of refusal or failure to comply with any provision of this chapter or any other applicable law, or of any agreement made with the holders of the bonds or of any issue thereof, the holders of a stated percentage in aggregate principal amount of the bonds, or of such issue thereof as the case may be, then outstanding may, in accordance with such appropriate procedure as is provided in the agreement or indenture, appoint a trustee to represent all the holders of the bonds, or all the holders of the issue thereof as the case may be, in the matter of exercising and prosecuting on their behalf such rights and remedies as are available to them under the law. The authority shall in its absolute discretion fix the terms and conditions upon which the trustee or trustees shall receive, hold and disburse the revenues and may prescribe the powers and duties of the trustee or trustees.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31156.

31156. All benefits conferred or obligations imposed by this chapter or by any other law with respect to making provision for the payment, whether from tolls or other revenues received from the use and operation of the toll tunnel or from other sources, of expenses in connection with the operation, maintenance, and insurance of, and the construction of approaches to, the toll tunnel, shall, notwithstanding the retirement or discharge of any or all of the bonds issued by the authority for the purpose of constructing the toll tunnel, inure to and continue for the benefit of any other bonds issued pursuant to this chapter as additional to, or funding, or refunding the bonds originally issued.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31157.

31157. The authority may contract loans and borrow money through the sale of bonds of the same character as those authorized pursuant to this chapter, from the United States or any of its departments, agencies, or instrumentalities upon such conditions and terms as may be agreed to. Such bonds shall be subject to all the provisions of this chapter except the requirement that bonds be first offered at public sale pursuant to advertisement.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31158.

31158. If a bond issue for the acquisition or construction of the toll tunnel is authorized and sold in whole or in part and the authority deems it advisable and advantageous to enlarge or extend the toll tunnel or to change the structure or design thereof in order to afford new or greater facilities for any type or class of traffic, the authority may issue additional bonds for the purpose of enlarging or extending the toll tunnel or changing the structure or design thereof in order to afford such new or greater facilities. Such additional bonds shall be issued only if the surrender and cancellation of all outstanding bonds issued for the acquisition or construction of the toll tunnel as originally designed can be assured or obtained by call or by consent of the holders thereof. Such additional bonds shall not constitute a debt or obligation of the state or of El Dorado County but shall be bonds of the authority of the same character and payable from the same funds as other bonds authorized pursuant to this chapter. The pledge of the tolls and other revenues to be received from the operation of the toll tunnel to the payment of outstanding bonds shall not be lessened, diminished, or affected in any way by the issuance of such additional bonds.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31159.

31159. If the outstanding bonds issued for the acquisition or construction of the toll tunnel as originally designed are, at the time of issuance of the additional bonds, by their terms subject to immediate retirement before maturity at the option of the authority, or if the holders consent to the retirement of such bonds, the authority may include in the issue of bonds to be sold for the purpose of enlarging or extending the toll tunnel or changing the design thereof, an amount of bonds sufficient to produce funds with which to retire the outstanding bonds according to their terms. Before any such additional bonds are delivered the authority shall first duly call the outstanding bonds for redemption in accordance with their terms and conditions or obtain the consent of the holders thereof to their retirement.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31160.

31160. Out of the proceeds derived from the sale of any such additional bonds there shall be set aside an amount of money sufficient to retire such outstanding bonds as may be thereafter presented for payment. Bonds of the new authorized issue may be delivered in part in exchange for a like principal amount of outstanding bonds of the original issue if the holders of the outstanding bonds to be exchanged consent thereto.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31161.

31161. All provisions of this chapter apply with like force and effect to the issuance of any bonds of the new authorized issue, and the holders thereof are subrogated to all the rights and powers of the holders of the bonds which are surrendered in exchange therefor, except as such rights and powers are modified by the express terms of the bonds of the new authorized issue or the proceedings authorizing their issuance.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31162.

31162. Whenever bonds of any kind have been issued and are outstanding pursuant to this chapter, the authority may from time to time or at one time issue and sell or exchange funding or refunding bonds for the purpose of retiring, paying, funding, or refunding either all or such part of the outstanding bonds or of one or more issues or series thereof, as it deems advisable. Such funding or refunding bonds shall be issued and delivered only when the issue or series of bonds to be funded or refunded have matured, are about to mature, are subject to retirement before maturity, or if the outstanding bonds are not subject to retirement, the retirement thereof has been assured or obtained by consent of the holders thereof. Funding or refunding bonds may be delivered wholly or in part in exchange for outstanding bonds to be funded or refunded thereby, if the holders of the outstanding bonds to be exchanged consent thereto.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31163.

31163. Funding or refunding bonds shall not constitute a debt or obligation of the state or of El Dorado County, but shall be bonds of the authority of the same character and payable from the same funds as other bonds authorized pursuant to this chapter. Any and all reserve or other funds applicable to the payment of the bonds funded or refunded, may, if so directed by the authority, be transferred to any reserve or other funds provided with respect to the funding or refunding bonds. The pledge of the tolls and other revenues to be received from the operation of the toll tunnel to the payment of outstanding bonds shall not be lessened, diminished, or affected in any way by the issuance of such funding or refunding bonds.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31164.

31164. Except as otherwise provided in this article, and except as modified by the express terms of the funding or refunding bonds or the proceedings authorizing their issuance, all the provisions of this chapter apply to such funding or refunding bonds and to the issuance and sale or exchange thereof, and the holders thereof shall be subrogated to all the rights and powers of the holders of the bonds funded or refunded thereby or surrendered in exchange therefor.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31165.

31165. Any funding or refunding bonds may be issued in a principal amount sufficient to provide funds for:
(a) The payment of the bonds to be funded or refunded thereby.
(b) All expenses incidental to the calling, retiring, or payment of the outstanding bonds and the issuance of the funding or refunding bonds, including the difference in amount between the par value of the funding or refunding bonds and any amount less than par for which they may be sold.
(c) Any amount necessary to be made available for the payment of interest upon the funding or refunding bonds from the date of their sale to the date of maturity or payment of the bonds to be funded or refunded out of the proceeds of the sale, or the date upon which the bonds to be funded or refunded will be paid pursuant to the call thereof or agreement with the holders thereof.
(d) The premium, if any, necessary to be paid in order to call or retire the outstanding bonds.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31167.

31167. All bonds issued pursuant to this chapter and the income therefrom are at all times exempt from taxation, except for transfer, inheritance, and estate taxes.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31168.

31168. Bonds issued pursuant to this chapter shall not constitute or be a debt, liability, or obligation of the state or El Dorado County. The payment of both principal and interest of all bonds shall be secured only by the tolls or other revenues collected from the toll tunnel, other revenues and interest thereon, and sinking funds created therefrom received by the authority, and shall be paid from such tolls or revenues or from such other contributions or appropriations as may be made available pursuant to this chapter.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31169.

31169. The bond redemption and interest payments constitute a first direct and exclusive charge and lien on all tolls and other revenues, and interest thereon, and sinking funds created therefrom received from the use and operation of the toll tunnel. Such tolls and revenues together with the interest earned thereon constitute a trust fund for the security and payment of the bonds and shall not be used or pledged for any other purpose as long as any such bonds are outstanding and unpaid.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31170.

31170. While any bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority shall not be diminished or impaired in any manner that will affect adversely the interests and rights of the holders of the bonds.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31171.

31171. The holder of any bond may by mandamus or other appropriate proceeding compel the performance of any of the duties imposed upon the authority or its officers, agents, and employees in connection with the construction, maintenance, operation, and insurance of the toll tunnel, in connection with the collection, deposit, investment, application, and disbursement of all tolls and other revenues derived from the operation and use of the toll tunnel, and in connection with the deposit, investment, and disbursement of the proceeds received from the sale of bonds. The enumeration of rights and remedies in this chapter does not exclude the exercise or prosecution of any other rights or remedies by the holders of such bonds.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31172.

31172. The Commissioner of Financial Institutions may investigate and ascertain the status or sufficiency as investments for savings banks in this state of any such bonds. If upon investigation it is determined in his or her opinion that such bonds constitute a proper investment for savings banks, he or she shall so certify. The Commissioner of Financial Institutions may revoke any such certificate issued by him or her at any time in his or her discretion.
(Amended by Stats. 1996, Ch. 1064, Sec. 811. Effective January 1, 1997. Operative July 1, 1997, by Sec. 814 of Ch. 1064.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31173.

31173. All bonds issued by the authority pursuant to this chapter, and which have been first certified by the Commissioner of Financial Institutions, are legal investments for all trust funds, for the funds of all insurance companies, commercial and savings banks, and trust companies, and for state school funds.
(Amended by Stats. 1996, Ch. 1064, Sec. 812. Effective January 1, 1997. Operative July 1, 1997, by Sec. 814 of Ch. 1064.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31174.

31174. Any money or funds which may by law be invested in bonds of the state, cities, counties, or school districts in the state may be invested in the bonds issued by the authority.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 4 - Bonds › Section 31175.

31175. Whenever any bonds of the state, or of any city, county, or school district in the state, may by law be used as security for the performance of any act or the deposit of any public money the bonds issued by the authority may be so used.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 5 - Custody and Use of Money › Section 31180.

31180. The proceeds from the sale of all bonds authorized pursuant to this chapter shall be paid to the treasurer for the credit of the authority and forthwith deposited as demand deposits in such depositary or depositaries as are authorized by law to receive deposits of state funds, to the credit of a fund to be designated as the acquisition and construction fund of the toll tunnel. The fund shall at all times be kept segregated and set apart from all other funds.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 5 - Custody and Use of Money › Section 31181.

31181. The proceeds from the sale of the bonds shall be paid out or disbursed solely for the acquisition or construction of the toll tunnel, the acquisition of the necessary lands and easements therefor, and the payment of interest on the bonds during the period of actual construction and for a period of six months thereafter, only as the need therefor arises. The authority may agree with the purchaser of the bonds upon any conditions or limitations restricting the disbursement of such funds which are deemed advisable for the purposes of assuring the proper application of the funds.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 5 - Custody and Use of Money › Section 31182.

31182. All money in the acquisition and construction fund not required to meet current acquisition or construction costs of the toll tunnel, and all funds constituting surplus revenues which are not immediately needed for the particular object or purpose to which they are required to be applied or to which they are pledged, shall be invested in bonds and obligations eligible for investment of surplus state money. The authority may provide in the proceedings authorizing the issuance of the bonds that the investment of such money shall be made only in particular bonds and obligations within the classifications eligible for such investment, and such provisions shall be binding upon the authority and all officials having anything to do with the investment.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 5 - Custody and Use of Money › Section 31183.

31183. Any surplus which exists in the acquisition and construction fund shall be applied to the retirement, by purchase or call, of bonds issued for the acquisition or construction of the toll tunnel. If such bonds cannot be purchased at a price satisfactory to the authority and are not by their terms callable prior to maturity, the surplus shall be paid into the fund applicable to the payment of principal and interest of such bonds and shall be used for that purpose. The proceedings authorizing the issuance of bonds may provide limitations and conditions upon the time and manner of applying the surplus to the purchase and call of outstanding bonds and the terms upon which they shall be purchased or called, and such limitations and conditions shall be followed and observed in the application and use of the surplus. All bonds retired by purchase or call shall be immediately canceled.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 5 - Custody and Use of Money › Section 31184.

31184. All tolls or other revenues received from the operation of the toll tunnel shall be paid over by the department at least monthly to the treasurer who shall deposit them forthwith in such depositary or depositaries as are authorized by law to receive deposits of state funds, to the credit of a special fund to be designated as the toll revenue fund of the toll tunnel, which fund shall at all times be kept segregated and set apart from all other funds.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 5 - Custody and Use of Money › Section 31185.

31185. From the money deposited in the acquisition and construction fund, the treasurer shall transfer to the place or places of payment named in the bonds such sums as are required to pay the interest as it becomes due on all bonds sold and outstanding for the construction of the toll tunnel during the period of actual construction and during the period of six months immediately thereafter. The treasurer shall thereafter transfer from the toll revenue fund to the place or places of payment named in the bonds such sums as are required to pay the interest on the bonds and to redeem the principal thereof as such interest payments and bond redemptions fall due for all bonds issued and sold for the construction or acquisition of the toll tunnel. All funds transferred for the payment of principal or interest on bonds issued for the toll tunnel shall be segregated and applied solely for the payment of such principal and interest.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 5 - Custody and Use of Money › Section 31186.

31186. The money remaining in the toll revenue fund, after providing the amount required for interest and redemption of bonds, shall be held and applied as provided in the proceedings authorizing the issuance of the bonds. If the proceedings authorizing the issuance of the bonds do not require surplus revenues to be held or applied in any particular manner, they shall be allocated and used for such other purposes incidental to the acquisition, construction, operation, and maintenance of the toll tunnel as the authority determines.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 5 - Custody and Use of Money › Section 31187.

31187. Money required to meet the costs of acquisition or construction and all expenses and costs incidental to the acquisition or construction of the toll tunnel, or to meet the costs of operating, maintaining, and repairing it, shall be paid from the proper fund therefor upon demand of the authority.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 5 - Custody and Use of Money › Section 31188.

31188. All interest received or earned on money deposited in each and every fund provided for in this article shall be credited to and become a part of the particular fund upon which the interest accrues.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 5 - Custody and Use of Money › Section 31189.

31189. Notwithstanding anything contained in this chapter, the proceeds received from the sale of bonds and the tolls or other revenues received from the operation of the toll tunnel may be used to defray any expenses incurred by the authority in connection with and incidental to the issuance and sale of bonds for the acquisition or construction of the toll tunnel, including expenses for the preparation of surveys and estimates and the making of inspections and examinations as may be required by the purchasers of the bonds, except that the proceedings authorizing the issuance of such bonds may contain appropriate provisions governing the use and application of the bond proceeds and toll or other revenues for the purposes specified in this section.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 6 - Acquisition and Disposition of Property › Section 31200.

31200. The authority may acquire by gift, purchase, or eminent domain proceedings any franchise, rights, privileges, easements, or other property, either real or personal, necessary therefor, when the construction of the toll tunnel is authorized by the authority. This article shall not apply to any portion of the state highway system.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 6 - Acquisition and Disposition of Property › Section 31201.

31201. In eminent domain proceedings to acquire property for any of the purposes of this chapter, any real property, personal property, franchises, rights, easements, or other property or privileges appurtenant thereto appropriated or dedicated to a public use or purpose by any person, private, public, or municipal corporation, county, city, district, or any political subdivision of the state, may be condemned and taken, and the acquisition and use thereof as provided in this chapter for the same public use or purpose to which such property has been appropriated or dedicated or for any other public use or purpose, shall be deemed a superior and permanent right and necessity, and a more necessary use and purpose than the public use or purpose to which such property has already been appropriated or dedicated.
It shall not be necessary in any eminent domain proceedings pursuant to this section to plead or prove any acts or proceedings preliminary or prior to the adoption of the resolution required by Section 1245.220 of the Code of Civil Procedure.
(Amended by Stats. 1975, Ch. 582.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 6 - Acquisition and Disposition of Property › Section 31205.

31205. The right-of-way is given, dedicated, and set apart upon which to locate, construct, and maintain the toll tunnel through, over, under, on, or across any property of the state now or hereafter owned, opened, or dedicated to or for public use and howsoever acquired, and through, over, under, on, or across the streets, alleys, lanes, and roads now or hereafter opened or dedicated to or for public use and howsoever acquired which are now or may be within any county, city, public or municipal corporation, district, or political subdivision of the state.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 6 - Acquisition and Disposition of Property › Section 31206.

31206. If any property belonging to any county, city, public or municipal corporation, district, or political subdivision of the state, is taken for the acquisition or construction of the toll tunnel, or if any such property is injured or damaged by such acquisition or construction, and the payment of compensation therefor is necessary, proper and necessary compensation therefor as is agreed upon may be paid by the authority to the particular county, city, public or municipal corporation, district, or political subdivision of the state owning or in charge of such property, or the authority may direct that eminent domain proceedings be brought pursuant to this article for the determination of such compensation, including the determination of the interest of any such county, city, public or municipal corporation, district, or political subdivision in such property and the necessity for the payment of such compensation.
Whenever the authority requires a public utility to remove and relocate any utility facility, the authority shall reimburse the owner of the public utility facility for the expense of the removal and relocation.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 6 - Acquisition and Disposition of Property › Section 31207.

31207. In all cases where, by statute or otherwise, any right is reserved or granted to the state or any state agency to construct or maintain highways, bridges, or approaches thereto, or other highway crossings, over, through, under, on, or across any public or private property, the authority is entitled to the benefit of such reservation or grant.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 6 - Acquisition and Disposition of Property › Section 31208.

31208. Whenever any property acquired for any of the purposes of this chapter, whether by agreement, grant, or eminent domain, either in fee or in any lesser estate or interest, is no longer necessary for use in connection with any improvement authorized to be constructed pursuant to this chapter, or whenever a lesser interest than is owned therein is sufficient for the construction, maintenance, and operation of any improvement, or whenever it is for any other reason in the public interest so to do, the property, any part thereof, or any interest therein may be leased, sold, exchanged, or otherwise disposed of or dealt with by the authority in the manner, upon such terms, and subject to such reservations as it deems necessary or desirable.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 6 - Acquisition and Disposition of Property › Section 31209.

31209. Whenever, either before or after the construction or reconstruction of streets, sidewalks, or other like facilities upon any property or interest in property acquired pursuant to this chapter, it appears desirable to dedicate the property to public use for such purpose, the authority may dedicate or transfer the property to any county, city, or other public or municipal corporation within which it is located, subject, however, to any rights or interests necessary for the proper construction, maintenance, and operation of the toll tunnel which extends through, over, under, on, or across the property.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 6 - Acquisition and Disposition of Property › Section 31210.

31210. Any money received for any such property shall be received into the funds for the toll tunnel for which the property was originally acquired.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 7 - Insurance of Property › Section 31220.

31220. When the toll tunnel is being built by the authority, it may carry or cause to be carried such an amount of insurance or indemnity bond as protection against loss or damage as it deems proper.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 7 - Insurance of Property › Section 31221.

31221. The authority may carry insurance in such amount as it deems proper to cover any accident or destruction in part or in whole to the toll tunnel until all bonds sold for the acquisition or construction of such toll tunnel and interest accrued thereon have been fully redeemed and paid.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 7 - Insurance of Property › Section 31222.

31222. All money collected on any indemnity bond or insurance policy as the result of any damage or injury to the toll tunnel shall be used for the purpose of repairing or rebuilding the toll tunnel, as long as there are revenue bonds against such structure outstanding and unredeemed.
(Added by Stats. 1968, Ch. 923.)
2023 California Code › Streets and Highways Code - SHC › DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS › CHAPTER 5 - El Dorado County Toll Tunnel Authority Act › ARTICLE 7 - Insurance of Property › Section 31223.

31223. The authority may also carry insurance or indemnity bonds insuring against the loss of tolls or other revenues to be derived from the toll tunnel by reason of any interruption in the use of the toll tunnel from any cause whatever. The proceeds of the insurance or indemnity bonds shall be paid into the fund into which the tolls and other revenues of the toll tunnel so insured are required to be paid and shall be applied to the same purposes and in the same manner as other money in the fund. The insurance or indemnity bonds may be in an amount equal to the probable tolls and other revenues to be received from the operation of the toll tunnel during any period of time determined by the authority and fixed in its discretion, and may be paid for out of the toll revenue fund as specified in the proceedings.
(Added by Stats. 1968, Ch. 923.)