reglab/statecodes huggingface dataset:
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 7 - Taxation › ARTICLE 2 - Retail Transactions and Use Tax › Section 29142.

29142. (a) Revenues derived from the transactions and use taxes, not to exceed an aggregate principal amount of one hundred fifty million dollars ($150,000,000), plus the costs payable by the district to the State Board of Equalization for preparatory costs and for its services in connection with such taxes and plus the costs of issuance of, and interest payments on, bonds or notes secured by such revenues, shall be used for the planning, acquiring, and constructing of the district’s approximately 75-mile system, including the San Francisco-Oakland Rapid Transit Tube and any and all works, structures, property, rolling stock, or other facilities of any kind which the district is authorized to acquire, construct, or complete.
(b) Revenues in excess of the amount specified in subdivision (a) shall be used for purposes specified in Section 29142.2, operational purposes, the liquidation of operational deficits, and the payment of principal and interest on negotiable bonds issued pursuant to subdivision (c).
(c) To finance the operation of its rapid transit system during the 1974–75 fiscal year, the district may issue negotiable bonds in an amount not to exceed sixteen million dollars ($16,000,000) in anticipation of the revenues specified in subdivision (b). However, upon a determination by the board that the issuance of sixteen million dollars ($16,000,000) in negotiable bonds, together with other funds available to the district, provide insufficient funds for the operation of the district during the 1975–76 fiscal year, the district may issue additional negotiable bonds in an amount not exceeding eight million dollars ($8,000,000). The district may also issue additional negotiable bonds in an amount not exceeding one million three hundred thousand dollars ($1,300,000) if the board determines that otherwise insufficient funds are available to the district for its operation during the 1976–77 fiscal year. The district shall pay the principal and interest on such bonds only from such revenues. Interest on such bonds may be funded, and paid from the proceeds of such bonds, for period of not to exceed two years from the date of such bonds. The board, by resolution shall determine the form, denomination, maturities, interest rates, and all other terms and conditions relative to the issuance of such negotiable bonds.
(Amended by Stats. 1977, Ch. 1204.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 7 - Taxation › ARTICLE 2 - Retail Transactions and Use Tax › Section 29142.2.

29142.2. Notwithstanding Section 7271 of the Revenue and Taxation Code, after deduction for the cost of the State Board of Equalization in administering the transactions and use tax, the amounts collected under the ordinance adopted pursuant to Section 29140 and available for distribution shall be allocated as follows:
(a) Seventy-five percent to the San Francisco Bay Area Rapid Transit District.
(b) Twenty-five percent shall be allocated by the Metropolitan Transportation Commission to the San Francisco Bay Area Rapid Transit District, the City and County of San Francisco for its municipal railway system, and the Alameda-Contra Costa Transit District for transit services on the basis of regional priorities established by the commission. The allocations by the commission to these transit operators for transit services shall be in accordance with the criteria in the financial management plan which is to be developed and annually revised by the commission in coordination with the Alameda-Contra Costa Transit District, the San Francisco Bay Area Rapid Transit District, and the City and County of San Francisco.
(Amended by Stats. 1984, Ch. 115, Sec. 1. Effective May 10, 1984.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 7 - Taxation › ARTICLE 2 - Retail Transactions and Use Tax › Section 29142.4.

29142.4. No funds shall be allocated to an entity pursuant to Section 29142.2, after January 1, 1978, unless, as determined by the Metropolitan Transportation Commission, the transit operator:
(a) Is a participating member of a regional transit coordinating council which the commission shall establish to better coordinate routes, schedules, fares, and transfers among the San Francisco Bay area transit operators and to explore potential advantages of joint ventures in areas such as marketing, maintenance, and purchasing. The commission shall be a member of the council.
(b) Establishes, for the period for which the funds are allocated, fare levels such that fare revenues equal at least 33 percent of its operating cost, which shall be all of its costs in the expense object classes, exclusive of the costs of the depreciation and amortization expense object classes, of the uniform system of accounts and records adopted by the State Controller pursuant to Section 99243. The allocation period shall not be less than one calendar quarter nor longer than one fiscal year, as determined by the commission. For purposes of this subdivision, the two special transit service districts of the Alameda-Contra Costa Transit District shall be considered separate transit districts. On and after July 1, 1981, the commission may grant, any operator which was in compliance with the 33 percent requirement prior to that date, a credit not to exceed 5 percent to meet that requirement on the basis of special operating characteristics of its transit system, including, but not limited to, its transfer and special fare policies. In no event shall the combined fare revenues of the three operators, excluding any credit granted by the commission, be less than 33 percent of their combined operating cost.
(c) Has complied with standards established by the commission pursuant to Section 66517.5 of the Government Code.
(Amended by Stats. 1996, Ch. 256, Sec. 3. Effective January 1, 1997.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 7 - Taxation › ARTICLE 2 - Retail Transactions and Use Tax › Section 29142.5.

29142.5. On and after July 1, 1984, for purposes of meeting the requirement of subdivision (b) of Section 29142.4, the Metropolitan Transportation Commission may consider, as fare revenues, that portion of the local support of an operator for its transit system which exceeds its base level of operating support as determined by the commission, if the commission finds that this consideration will enable the operator to maintain or improve vital transit within a coordinated fare structure.
(Repealed and added by Stats. 1984, Ch. 115, Sec. 3. Effective May 10, 1984.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 7 - Taxation › ARTICLE 2 - Retail Transactions and Use Tax › Section 29142.6.

29142.6. Upon determination by the Metropolitan Transportation Commission that an operator has met the conditions specified in Section 29142.4, the commission shall notify the State Board of Equalization of the percentage of the transaction and use taxes to be allocated to the operator. Upon such notification, the State Board of Equalization shall transmit to the operator, as promptly as feasible, its share of the transaction and use taxes.
(Added by Stats. 1977, Ch. 1204.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 7 - Taxation › ARTICLE 2 - Retail Transactions and Use Tax › Section 29142.8.

29142.8. (a) Any portion of the transactions and use tax revenues available for allocation and not allocated by the Metropolitan Transportation Commission shall be invested through the Surplus Money Investment Fund. The amount invested and the accrued interest therefrom shall be available for allocation by the commission.
(b) Any funds which accumulated during a period an operator is not in compliance with Section 29142.4 may be allocated to any operator in compliance with that section at the time of allocation.
(Amended by Stats. 1979, Ch. 264.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 7 - Taxation › ARTICLE 2 - Retail Transactions and Use Tax › Section 29143.

29143. (a) The district is hereby authorized to issue revenue bonds, payable, in whole or in part, from revenues made available under this article. Those revenues are deemed to be revenues of the enterprise for all purposes of 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), and the restrictions therein provided against the securing of bonds by the taxing power or the proceeds of taxation do not apply. The district is deemed a “local agency” and the planning, acquiring, constructing, operating or maintaining of the district’s rapid transit facilities, or any part thereof, is deemed an “enterprise,” within the meaning of the Revenue Bond Law of 1941. The provisions of that law not inconsistent with any of the provisions of this article are made applicable to the district, except that no election shall be required for the issuance of revenue bonds authorized by the board pursuant to this article and secured, in whole or in part, by the revenues made available under this article. Notwithstanding any provision of the Revenue Bond Law of 1941, the resolution or indenture authorizing the issuance of any revenue bonds secured, in whole or in part, by those revenues shall provide that the use of the revenues by the district to redeem bonds shall be continued in effect until the bonds are fully paid or provision has been made for their payment in full.
(b) Notwithstanding Section 54388 of the Government Code or any other law, the revenue bonds authorized by this article may be sold through negotiated sale conducted in accordance with Section 53591 of the Government Code.
(c) The district may borrow money in anticipation of the revenues made available under this article and may, from time to time, issue negotiable notes for that purpose.
(d) In addition to pledging revenues for the payment of any revenue bonds, the district may pledge for the payment of the bonds all other income or receipts of the district which are not required by law to be used for other purposes.
(Amended by Stats. 1990, Ch. 1147, Sec. 1.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29150.

29150. The district may borrow money, incur a bonded indebtedness in respect thereto, and levy taxes for the payment of principal and interest thereon, in the manner provided in Chapter 7 of this part, but no such bonded debt shall exceed fifteen (15) percent of the assessed valuation of taxable property within the district.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29151.

29151. Before submitting a proposal to incur any bonded indebtedness, the district shall employ such engineers, economists, fiscal experts and others as is necessary to develop general plans, estimates and general specifications pertaining to the projects for which the bond issue is proposed, sufficient in the opinion of the board to enable the board to determine the feasibility of such projects, provided that no such reports or the approval thereof specified in Section 29156 of this code shall be applicable to any proposal for the issuance of additional bonds to complete the project referred to in the original reports.
(Amended by Stats. 1967, Ch. 1518.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29152.

29152. Such engineers, economists, fiscal experts and others shall make reports to the district, which shall include:
(a) A general description of the facilities to be acquired or constructed from the proceeds of the proposed bond issue.
(b) The estimated total cost of constructing or acquiring, or both, such facilities.
(c) The estimated period of construction of such facilities.
(d) An estimate of the revenues which may be expected to be derived therefrom.
(e) The amount of bonds which will be required to pay the estimated total cost of constructing or acquiring such facilities. If the district determines to make interest payments out of bond proceeds, the estimate may include a sum sufficient to pay interest on the bonds during the estimated period of construction and for three years, or less, thereafter.
(f) An estimate of the taxes required to be levied for all district purposes, the sources from which such taxes shall be obtained, and the proportion or amount to be derived from each source.
(Amended by Stats. 1961, Ch. 1967.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29153.

29153. After receiving such reports, the board shall determine and declare by resolution whether or not the proposed plan of work is feasible and whether or not the project, as set forth in said reports, is necessary, and if so, shall make an order determining the amount of bonds that should be issued in order to raise the amount of money necessary therefor, and in determining such amount, sufficient shall be included to cover the cost of inspection of works in course of construction. Such determination by the board shall constitute a conclusive determination that the reports then on file with the board are adequate and sufficient to enable the board to make the determination as set forth in such resolution.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29154.

29154. After adoption by the board of the reports made pursuant to Section 29152 the board shall refer such reports to the boards of supervisors of the counties comprising the district for their approval.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29155.

29155. After receiving the reports, each board of supervisors shall fix a time and place for a public hearing to consider the reports. The time fixed for the hearing shall not be less than 30 days nor more than 60 days from the date the reports were received from the board.
(Amended by Stats. 1984, Ch. 144, Sec. 177.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29156.

29156. Within 15 days from the date of the public hearing held pursuant to Section 29155, each board of supervisors shall, by a resolution adopted by a majority vote of the board of supervisors, determine whether it approves the reports and shall file an executed copy of the resolution with the secretary of the district.
(Amended by Stats. 1984, Ch. 144, Sec. 178.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29157.

29157. If a majority of any board of supervisors does not approve the reports, the district may make additional studies and changes and may refer the amended reports to the board of supervisors of the counties comprising the district in order to obtain unanimous approval from the counties comprising the district. If no agreement is reached within a period of six months following the date the original reports were received from the board, any county not approving the reports may withdraw from the district under Chapter 10 (commencing with Section 29650), notwithstanding that, after that county’s disapproval, the reports are withdrawn by the district. Failure of a county to withdraw from the district, within 30 days following the six-month period, has the same effect as approval by the board of supervisors of the county of the reports as last amended, unless the reports have been previously withdrawn by the district.
(Amended by Stats. 1984, Ch. 144, Sec. 179.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29157.1.

29157.1. Whenever it appears to the board that bonded indebtedness heretofore authorized pursuant to the provisions of this article is insufficient to cover all costs of the acquisition and construction of facilities, the board shall make an order determining the amount of bonds that should be issued in order to raise the additional funds necessary for the completion of such facilities. The provisions of Sections 29154, 29155, 29156 and 29157 of this code shall not be applicable to any election to authorize the issuance of additional bonds, after the district shall have issued all or any part of its first authorized issue of bonds.
(Added by Stats. 1967, Ch. 1518.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29158.

29158. When the district has received unanimous approval from the boards of supervisors of the counties comprising the district pursuant to Section 29156 of this code, or when the board has made its order pursuant to Section 29157.1 of this code, the board shall call a special election and submit to the qualified voters of the district the proposition of incurring such bonded indebtedness for the acquisition, construction or completion of rapid transit facilities by the district and all other works, property, or structures necessary or convenient therefor and for the purpose of carrying out the provisions of this part.
(Amended by Stats. 1967, Ch. 1518.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29159.

29159. The resolution calling the special election shall contain:
(a) A statement of the general object and purpose of incurring the indebtedness.
(b) Statement of the estimated cost of the proposed work and improvements.
(c) The amount of the principal of the indebtedness to be incurred therefor.
(d) The maximum term, which shall not exceed fifty (50) years, that the bonds proposed to be issued shall run before maturity.
(e) The maximum rate of interest to be paid on said indebtedness, which shall not exceed six (6) percent per annum.
(f) A statement declaring whether interest, to be paid upon such bonds during the estimated period of construction of the works of the district and for three years thereafter, or less, shall be a capital charge, and shall be payable out of the principal sum realized from the sale of bonds, and, if so, to what extent.
(g) An estimate of the taxes required to be levied for all district purposes, the sources from which such taxes shall be obtained, and the proportion or amount to be derived from each source.
(h) The date on which the special bond election will be held, the hours during the day which the polls will be open, and the manner of voting for and against the incurring of such indebtedness; provided, however, the district shall have no power or authority, within six (6) months after an election at which a proposition submitted to the qualified electors of the district failed to receive the requisite number of votes as provided in Section 29168, to call or order another election for incurring any indebtedness for purposes substantially the same as voted upon at such prior election. If the special bond election is consolidated with any other election, the hours during which the polls shall be kept open in each county shall be the same as those provided for the election with which the election called pursuant to this part is consolidated and reference to that effect in the resolution shall be sufficient without specifying the particular hours.
(Amended by Stats. 1961, Ch. 1967.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29160.

29160. The provisions of Section 37.5 of Chapter 1239 of the Statutes of 1949, the San Francisco Bay Area Metropolitan Rapid Transit District Act, relating to the repayment of appropriations made to the San Francisco Bay Area Rapid Transit Commission from the proceeds of the first sale of bonds issued by the district created by that act, shall apply to and be binding upon the San Francisco Bay Area Rapid Transit District.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29161.

29161. Any election submitting the proposition of incurring indebtedness and the issuance of bonds called pursuant to this part, may be held separately, or may be consolidated with any other election authorized by law, at which the qualified voters of any county, city and county, or city are entitled to vote. However, in the event an election called pursuant to this part is consolidated with any other election, as provided by Part 3 (commencing with Section 10400) of Division 10 of the Elections Code, the provisions of this part setting forth the procedure for the calling of the election called pursuant to this part shall be complied with, except that the resolution calling the election need not set forth the election precincts or polling places, or the officers of election, which shall be the same as those set forth in the ordinance, order, resolution, notice, or other proceeding calling or providing for, or listing or designating the precincts, polling places, and election officers for the election with which the election called pursuant to this part is consolidated, and shall refer to the election or to the ordinance, order, resolution, notice, or other proceeding calling, providing for, or giving notice of the election, and which sets forth the precincts, polling places, and election officers. This reference may be made by giving the number or title or date of adoption of the ordinance, resolution, or order or to the date or proposed date of any publication of the notice and the name of the newspaper or proposed newspaper in which the notice has been or will be published or by any other definite description. Whenever a bond election called pursuant to this part is consolidated with a statewide general election held in the district, references to that general election shall be sufficient for all purposes of this part.
(Amended by Stats. 1994, Ch. 923, Sec. 195. Effective January 1, 1995.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29162.

29162. Whenever a special bond election is called pursuant to this part and is not consolidated with any other election the board shall in its resolution calling such special bond election, in addition to all other matters required to be set forth therein:
(a) Specify the precincts or consolidated precincts in each county or portion of a county which are adopted for the purposes of the election and designate the location of the polling places, provided that one or more polling places may be established within the same precinct and separate ballot boxes and separate officers of election provided for each group of electors, which group shall be determined by alphabetical designations and divided into groups as nearly equal in number as practicable.
(b) Specify the names of the officers selected to conduct the election, who shall consist of at least one inspector and two judges in each precinct, but not in excess of six election officers for each polling place.
Whenever the special bond election called pursuant to this part is consolidated in whole or in part with any other election, the precincts, polling places and election officers need not be set forth in the resolution calling the special bond election except only to the extent that any precinct, polling place and election officers established for the special bond election differ or are in addition to those established for the election with which the special bond election called pursuant to this part is consolidated.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29163.

29163. Notice of a special bond election shall be given by publication of the text of the resolution calling the election and except as provided below the text thereof shall be published once a week in each calendar week for two successive calendar weeks at any time prior to the election (the first publication of which shall be not less than twenty (20) days nor more than ninety (90) days prior to the date fixed for the election) in at least one newspaper of general circulation and in not more than three newspapers, designated by the board, which are printed and published in each county within the district. That portion of the resolution constituting notice of election as published in each county shall contain only the reference to the precincts, polling places, and election officers in the county or portion of the county in which it is published, and it shall not be necessary to publish any portion of the resolution setting forth the precincts, polling places or election officers in any other county. Except for the omission in any county of the reference to the precinct, polling place and election officers in any other county, the text of the resolution as published in each county to constitute notice of said election shall be the resolution in form as adopted by the board. To each resolution published in each county there shall be set forth a notice substantially as follows:
”Notice of Election
Notice is hereby given to the qualified electors of the San Francisco Bay Area Rapid Transit District that the Board of Directors has duly adopted a resolution calling a special bond election within the District which is set forth in full below, except only for the omission of the designation of the precinct, polling place and officers of election in any county or portion of a county in which such election is to be held except only the designation of such election details as the same pertain to the county or portion of a county in which the attached resolution is published, which election details are set forth in the following text of the resolution.”
If there is no newspaper published in any county within the district, the notice shall be posted in three public places in such county.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29164.

29164. All the expenses of holding the election shall be borne by the district, except when the election is consolidated with another election pursuant to Part 3 (commencing with Section 10400) of Division 10 of the Elections Code, in which case the expense borne by the district shall be that agreed upon by the district and the other governing body or bodies calling the election.
(Amended by Stats. 1994, Ch. 923, Sec. 196. Effective January 1, 1995.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29165.

29165. No error, irregularity or omission in the calling, holding or conducting of any special bond election which does not affect the substantial rights of the taxpayers within the district or the electors voting at any election at which bonds of the district are authorized to be issued shall invalidate the election or any bonds authorized thereat.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29166.

29166. (a) The returns of the election shall be made and the votes shall be canvassed by the county elections official in each county contained in the district, within thirty (30) days after holding of the election, and the county elections officials, respectively, shall certify the result of the election in each county, respectively, to the board of the district.
(b) In the event that the election is consolidated with any other election, the returns of the election, the method of canvassing, and the results thereof shall be designated and declared in accordance with Part 3 (commencing with Section 10400) of Division 10 of the Elections Code.
(Amended by Stats. 1994, Ch. 923, Sec. 197. Effective January 1, 1995.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29167.

29167. At any special bond election called pursuant to this part, all residents of the district who are qualified electors possessing the qualifications prescribed by the general election laws of the State of California shall be entitled to vote thereat. All special bond elections shall be held and conducted as nearly as practicable in accordance with the general laws of the State of California, including provisions with respect to voting by absent voters, but the requirements as to the form of ballots need not apply except to the extent adopted by the board. Whether a resident of the district is a qualified elector within the district shall be conclusively determined by the last great register of voters of the county or portion of the county in which the election is held. Except when the special bond election is consolidated with any other election, the board shall designate the hours during which the polls shall be kept open. The polls shall not be opened before 7 a.m. nor kept open later than 8 p.m. and shall be kept open for not less than four hours.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization of General Obligation Bonds › Section 29168.

29168. At any special bond election two or more propositions for incurring indebtedness may be submitted at the same election in which event the votes cast for and against each proposition shall be counted separately, and whenever three-fifths of the qualified electors voting on any one of such propositions vote in favor thereof such proposition shall be deemed adopted.
(Amended by Stats. 1961, Ch. 1622.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29169.

29169. Whenever three-fifths of the votes cast at any special bond election or on any proposition submitted thereat are in favor of incurring the indebtedness set forth in such proposition, the board may by resolution at any time it deems proper, or from time to time, provide for the authorization and issuance of the bonds not exceeding the amount authorized at such election.
(Amended by Stats. 1961, Ch. 1622.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29170.

29170. Bonds may be issued in form payable to bearer, with coupons attached for payment of interest and, if so issued, may be made subject to registration. Bonds issued in bearer form shall constitute negotiable instruments for all purposes under the laws of the State of California. The district may appoint a registration agent which may be a bank or trust company and authorize such registration agent to maintain books of registry and to register, authenticate and exchange bonds on such terms and conditions and pursuant to such rules and regulations as the district may provide. The district may provide for the interchange of coupon bonds for registered bonds and registered bonds for coupon bonds, and may provide that the bonds shall be registered as to principal only, or as to both principal and interest, or otherwise, as the district may determine.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29171.

29171. Coupon bonds may be issued in denominations of one thousand dollars ($1,000), or multiples thereof, as the district may determine. Coupon bonds of different denominations shall be exchangeable for coupon bonds of other denominations or for registered bonds on terms and conditions as the district may determine, including provisions for the authentication of any bonds issued upon the exchange by the registration agent or other agents appointed by the district for that purpose.
(Amended by Stats. 1981, Ch. 714, Sec. 392.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29172.

29172. Registered bonds may be issued without limitation as to principal amount, as may be determined by the district, except that registered bonds shall be in denominations of one thousand dollars ($1,000) or multiples thereof. Registered bonds of any denomination shall be exchangeable with bonds, either in registered or coupon form, of other denominations on such terms and conditions as the district shall determine, including provisions for authentication of bonds issued upon such exchange by the registration agent or other agents appointed by the district for that purpose, and upon the payment of such reasonable charges as may be prescribed by the district.
(Amended by Stats. 1961, Ch. 1967.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29173.

29173. Bonds shall bear interest at a rate of not to exceed 8 percent per annum, payable semiannually, except that interest for the first year or any fraction thereof may be paid in one installment.
(Amended by Stats. 1975, Ch. 130.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29174.

29174. The district may provide for redemption of bonds prior to maturity, on such notice and at such time or times and with such redemption provisions, including premiums, as the district may determine, provided that no redemption premium shall be in excess of 6 percent of the principal amount of the bonds to be redeemed. No bond is subject to call or redemption prior to its fixed maturity date, unless the right to exercise such call and the redemption price are expressly stated on the face of the bond. When bonds have been validly called for redemption and payment of the principal thereof, and the interest thereon accrued to the date of redemption, together with the redemption premium, if any, shall have been made or provided for, interest thereon shall cease.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29175.

29175. The district may provide for the payment of the principal and interest of bonds at any place within the State of California, or at any other place within the United States, which the district may designate. The place of payment shall be specified in the bonds and payment shall be made in any coin or currency of the United States of America which at the time of payment is legal tender for public and private debts.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29176.

29176. Bonds shall bear dates prescribed by the district.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29177.

29177. Bonds may be serial or sinking fund bonds, or in part serially and in part sinking fund bonds, with such maturities and in such amounts annually, semiannually or otherwise, as the district may determine at the time of authorizing the issuance thereof.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29178.

29178. No bond by its terms shall mature in more than fifty (50) years from its own date, and in the event any authorized issue is divided into two or more series or divisions, the maximum maturity herein authorized shall be calculated from the date on the face of each bond, separately, irrespective of the fact that different dates may be prescribed for the bonds of each separate series or division of any authorized issue.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29179.

29179. The district may divide any authorized issue into one or more series or division and fix different dates and different maturity dates for the bonds of each series or division.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29180.

29180. The district may prescribe the form of such bonds, and of the interest coupons attached thereto. Bonds shall be signed by the president of the board (or such other member of the board as the board shall by resolution designate) and countersigned by the secretary of the district and the seal of the district shall be affixed thereto. The interest coupons on said bonds shall be numbered consecutively and signed by the treasurer of said district. The signature on all coupons and one signature on the bonds may be engraved, lithographed, or printed facsimile signature. The seal of the district may be affixed to any bond by mechanical reproduction of a facsimile thereof. In case any officer whose signature or countersignature appearing on the bonds or coupons shall cease to be such officer before the delivery of such bonds to the purchaser, such signature or countersignature shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until the delivery of the bonds. If the district appoints a registration agent, fiscal agent, or other agent to authenticate bonds, any bond of the district, whether in coupon or registered form, may be signed by the facsimile signatures of the officers of the district with a facsimile seal of the district affixed mechanically or otherwise reproduced thereon, provided that such bonds shall be authenticated by the fiscal agent, registration agent, or other agent appointed by the district for that purpose. Any agent appointed by the district to authenticate registered bonds or exchange bonds of different denominations, or coupon bonds for registered bonds, or vice versa, shall be a bank or trust company authorized to transact, and transacting, business in the State of California or the State of New York.
(Amended by Stats. 1961, Ch. 1967.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29181.

29181. Pending the actual issuance or delivery of bonds, the district may issue temporary or interim bonds, certificates, or receipts, of any denomination whatsoever, with or without coupon, and in such form as may be prescribed by the board, to be exchanged for definitive bonds when ready for delivery.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29182.

29182. The district may provide that interest on bonds may be paid out of the proceeds of the sale of the bonds during the actual construction of any project, for the acquisition, construction, or completion of which bonds have been issued, and for a period of not to exceed three years thereafter, as determined by the district.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29183.

29183. The district shall provide for the payment of the principal of and interest on the bonds by the levy and collection of taxes upon all property in the district subject to taxation by the district without limitation of rate or amount as provided in Sections 29121 and 29122 of this part, except that such taxes need not be levied to the extent that the district deposits in the treasury set apart for that purpose moneys derived from surplus revenues or any appropriations which may be made to it for that purpose or from any other funds howsoever derived.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Form and Terms of General Obligation Bonds › Section 29184.

29184. Any general obligation bonds which shall be issued under the provisions of this part shall be legal investment for all trust funds; for the funds of insurance companies, banks—both commercial and savings—and trust companies; and for state school funds; and whenever any money or funds may, by any law now or hereafter enacted, be invested in bonds of cities, cities and counties, counties, school districts, or irrigation districts within the State of California, such money or funds may be invested in the general obligation bonds issued under this part, and whenever bonds of cities, cities and counties, counties, school districts, or irrigation districts within this State may, by any law now or hereafter enacted, be used as security for the performance of any act or the deposit of any public moneys, the said bonds issued under this part may be so used. The provisions of this part shall be in addition to all other laws relating to legal investments and shall be controlling as the latest expression of the Legislature with respect thereto.
(Added by Stats. 1957, Ch. 1056.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 2 - SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT › CHAPTER 8 - Bonds and Other Evidences of Indebtedness › ARTICLE 3 - Issuance and Sale of General Obligation Bonds › Section 29200.

29200. The district may by resolution at any time, or from time to time, provide for the authorization and issuance of any bonds authorized pursuant to this part and for the sale of the whole or any part thereof.
(Added by Stats. 1957, Ch. 1056.)