reglab/statecodes huggingface dataset:
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 7 - Indebtedness › Section 30703.

30703. The district may accept contributions or loans from the State of California or any public agency, for the purpose of planning, acquiring, constructing, developing, jointly developing, operating, or maintaining a rapid transit system, including, without limitation, the payment of principal and interest and providing security funds for bonds or notes of the district issued for any of those purposes, and may enter into contracts and cooperate with, and accept cooperation from, the state or any public agency therefor. The district is a public rapid transit district, rapid transit district, or any other type of public agency which is authorized by any other law to receive those contributions, loans, or cooperation, including, without limitation, Sections 11005.1 and 11104 of the Revenue and Taxation Code. The district may do any and all things necessary, within the limitations imposed by this part or by any indebtedness created pursuant to this part, in order to avail itself of those contributions, loans, or cooperation.
(Amended by Stats. 1983, Ch. 497, Sec. 14.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 7 - Indebtedness › Section 30703.2.

30703.2. To the extent permitted by the law governing the source of any transit funds, appropriations, contributions, grants or loans received pursuant to this article or under any other law or otherwise, such funds or moneys may also be used to pay construction costs directly and reduce expenditures to be financed from bonds of the district, and in such event, the total amount of the bonds approved by the voters may be reduced to the extent that such transit funds, appropriations, contributions, grants or loans are so applied directly to construction costs.
(Added by Stats. 1967, Ch. 1215.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 7 - Indebtedness › Section 30704.

30704. The district shall not incur an indebtedness which exceeds in the aggregate 15 percent of the assessed value of all real and personal property in the district. Within the meaning of this section, “indebtedness” includes, without limitation, any and all forms thereof which the district is authorized to issue by this part or by any other law.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 7 - Indebtedness › Section 30705.

30705. The district may also refund any indebtedness as provided in this part or in any other applicable law. The board may provide for the issuance, sale or exchange of refunding bonds to redeem or retire any bonds issued by the district upon the terms, at the times and in the manner which it determines. Refunding bonds may be issued in a principal amount sufficient to pay all or any part of the principal of any bonds outstanding, the interest thereon and the premiums, if any, due upon call and redemption thereof prior to maturity and all expenses of such refunding. The provisions of this part for issuance and sale of any bonds apply to the issuance and sale of such refunding bonds; except that (i) the issuance of refunding bonds shall be approved by 60 percent of the votes cast by the qualified electors of the district voting at an election called and held for that purpose except that an election is not required if the refunding is by the same type of bonds and payable from the same sources, and (ii) when refunding bonds are to be exchanged for any bonds outstanding the methods of exchange shall be as determined by the board.
(Added by Stats. 1967, Ch. 1215.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 7 - Indebtedness › Section 30706.

30706. Unless the context otherwise requires, the definitions of the following terms shall apply to indebtedness under this part:
(a) “Any bond” or “any bonded indebtedness” means bonds or indebtedness of any kind or nature issued or authorized, respectively, pursuant to Chapter 7 (commencing with Section 30900).
(b) “Bond” means the bond authorized pursuant to Article 1 (commencing with Section 30900) of Chapter 7.
(c) “Limited tax bond” means the bond issued pursuant to Article 1.5 (commencing with Section 30920) of Chapter 7.
(d) “Revenue bond” means the bond issued pursuant to Article 2 (commencing with Section 30930) of Chapter 7.
(e) “Improvement district bond” means the bond issued pursuant to Article 5 (commencing with Section 30960) of Chapter 7.
(f) “Revenues” means any funds of the district, including transit funds other than property taxes levied under Section 30802 and special taxes levied under Section 30820.
(Amended by Stats. 1984, Ch. 144, Sec. 185.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 8 - Investments › Section 30730.

30730. The board may, by resolution, order that any of the moneys in the funds under its control which are not necessary for current operating expenses be invested in any obligations, bonds or securities in which a county could invest such funds; provided, however, that (1) any such investments shall be made in such a manner that the moneys in such funds will be available at the times and in the amounts necessary to accomplish the purpose for which said funds were established, and (2) no such investment shall be made in contravention of any provision or covenant in any proceedings for the authorization and issuance of bonds, notes, contracts or other evidences of indebtedness.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 9 - Elections › Section 30740.

30740. All district elections shall be held in accordance with the provisions of the Elections Code of the State of California, as the same now exist or may hereafter be amended, for the holding of elections in general law cities insofar as the same are not in conflict with this part. Pursuant to the Elections Code, all district elections shall be consolidated with either a statewide general election or a statewide direct primary election.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 9 - Elections › Section 30740.5.

30740.5. The board of directors or any officer or member or members thereof authorized by that body, or any individual voter or bona fide association, or any combination of voters and associations, may file a written argument for or against any district bond or tax measure. No argument shall exceed 300 words in length. The county elections official of the County of Los Angeles shall cause an argument for and an argument against the measure to be printed, and shall enclose a copy of both arguments printed on the same sheet of paper in an envelope with each sample ballot. The printed arguments are official matter within the meaning of those words as used in Section 13303 of the Elections Code. Based on the time reasonably necessary to prepare and print the arguments and sample ballots for that election, the elections official shall fix and determine a reasonable date prior to the election after which no argument for or against the measure may be submitted to him or her for printing and distribution to the voters, as provided in this section. Arguments may be changed until and including the date fixed by the elections official. If more than one argument for or more than one argument against any measure is submitted to the elections official within the time prescribed, the elections official shall select one of the arguments in favor and one of the arguments against the measure for printing and distribution to the voters. The arguments so selected shall be those of bona fide supporters or opponents of the measure.
(Amended by Stats. 1994, Ch. 923, Sec. 198. Effective January 1, 1995.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 9 - Elections › Section 30741.

30741. The provisions of the Elections Code of the State of California, as the same now exist or may hereafter be amended, governing the initiative and referendum in districts shall apply insofar as such provisions of the Elections Code are not in conflict with this part. Insofar as the district is concerned, officers of the district shall not be subject to recall.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 9 - Elections › Section 30742.

30742. No irregularities or informalities in conducting any election shall invalidate the same if the election shall have been otherwise fairly conducted.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 10 - Labor Provisions › Section 30751.

30751. Any question which may arise with respect to whether a majority of the employees in an appropriate unit desire to be represented by a labor organization shall be submitted to the Public Employment Relations Board. In resolving those questions of representation including the determination of the appropriate unit or units, petitions, the conduct of hearings and elections, the board shall apply the relevant federal law and administrative practice developed under the Labor Management Relations Act, 1947, as amended, and for this purpose shall adopt appropriate rules and regulations. Those rules and regulations shall be administered by the California State Mediation and Conciliation Service and shall provide for a prompt public hearing and a secret ballot election to determine the question of representation.
(Amended by Stats. 2012, Ch. 46, Sec. 123. (SB 1038) Effective June 27, 2012.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 10 - Labor Provisions › Section 30752.

30752. Whenever the district acquires existing facilities from a publicly or privately owned public utility, either in proceedings by eminent domain or otherwise, to the extent necessary for operation of facilities, all of the employees of such public utility whose duties pertain to the facilities acquired who have been employed by said utility for at least seventy-five (75) days shall be appointed to a comparable position in the district without examination and shall be governed thereafter by the personnel system adopted by the board, and these employees shall be given sick leave, seniority and vacation credits in accordance with the records of the acquired public utility.
The provisions of this section shall apply only to those officers or supervisory employees of the acquired utility as shall be designated by the board.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 10 - Labor Provisions › Section 30753.

30753. (a) Whenever the district acquires existing facilities from a publicly or privately owned public utility, either in proceedings in eminent domain or otherwise, the district shall assume and observe all existing labor contracts, and to the extent necessary for operation of facilities acquired, all of the employees of such acquired public utility whose duties pertain to the facilities acquired, shall be appointed to comparable positions in the district without examination, subject to all the rights and benefits of this part, and these employees shall be given sick leave, seniority, pension and vacation credits in accordance with the records and labor agreements of the acquired public utility.
(b) Members and beneficiaries of any pension or retirement system or other benefits established by that public utility shall continue to have the rights, privileges, benefits, obligations and status with respect to such established system. No employee of any acquired public utility shall suffer any worsening of his wages, seniority, pension, vacation or other benefits by reason of the acquisition.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 10 - Labor Provisions › Section 30754.

30754. The district shall not acquire any existing transit system or part thereof whether by purchase, lease, condemnation, or otherwise, or dispose of or lease any transit system or part thereof, or merge, consolidate or coordinate any transit system or part thereof, or substitute any type of equipment on any system or part thereof for the then existing equipment or terminate any lease arrangement or management contract, or reduce or limit the lines or service of any existing system or of its system unless it shall first have made adequate provision for the district’s employees who are or may be displaced, or whose wages, hours, place or conditions of employment are or may be adversely affected. The terms and conditions of such provisions shall be a proper subject of collective bargaining with the labor organizations that represent such employees. In the event the parties are unable to agree upon such provisions the dispute shall be submitted to arbitration. The arbitrator shall be selected according to procedures established by subdivision (d) of Section 30750. The decision of the arbitrator shall be final and binding on the parties. In the event that at the time the district acquires a system or part thereof, and former or furloughed employees of such system are at that time entitled to protection under a collective bargaining agreement or an order of the Public Utilities Commission or other public agency, the district shall provide for the continuation of such protection for the period of the agreement or order.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 10 - Labor Provisions › Section 30755.

30755. Employees shall have the right to self-organization, to form, join, or assist labor organizations, to bargain collectively through representatives of their own choosing, and to engage in other concerted activities for the purpose of collective bargaining or other mutual aid or protection.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 5 - Powers and Functions of District › ARTICLE 10 - Labor Provisions › Section 30756.

30756. (a) In the event the board and the representatives of the employees do not agree to submit a dispute over the terms and conditions of a collective bargaining agreement to arbitration as provided in subdivision (d) of Section 30750, the State Conciliation Service may be notified by either party that a dispute exists and that there is no agreement to arbitrate.
(b) Following such notification, the State Conciliation Service shall determine whether or not the dispute may be resolved by the parties and, if not, the issues concerning which the dispute exists.
(c) Upon a determination that the dispute cannot be resolved by the parties, the service shall certify its findings to the Governor of the State of California.
(d) The Governor shall, within 10 days of receipt of certification, appoint a factfinding commission consisting of three persons.
(e) The commission shall immediately convene and inquire into and investigate the issues in the dispute.
The commission shall have authority to issue subpoenas for the attendance of witnesses and subpoenas duces tecum for the production of books, documents, and other records. Subpoenas shall be serviced and enforced in accordance with Chapter 2 (commencing with Section 1985) of Title 3, Part 4 of the Code of Civil Procedure.
The commission shall report to the Governor within 60 days of the date of its creation. However, the commission shall deliver a preliminary confidential report to the parties not later than the 51st day of the 60-day period, and the parties may submit comments on such report to the commission for its consideration not later than the 54th day of the 60-day period.
The commission shall, if either party so requests in its comments, include in its report an estimate of the cost of implementing any proposals or recommendations contained in the report.
(f) After notification to the State Conciliation Service by either party in accordance with subdivision (a), no change, except by mutual agreement, shall be made by the parties in the conditions out of which the dispute arose and service to the public shall continue to be provided (1) until the service determines that the dispute may be resolved by the parties, or (2) if the service determines that the dispute cannot be resolved by the parties, until 10 days after the commission has made its report to the Governor.
(Amended by Stats. 1974, Ch. 51.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization and Issuance of Bonds › Section 30900.

30900. Whenever the board deems it necessary for the district to incur a bonded indebtedness for the acquisition, construction, development, joint development, maintenance, operation, or repair of any or all improvements, works, property, or facilities, authorized by this part or necessary for, incidental to, or convenient for the carrying out of the powers of the district, or for any other purpose authorized by this part, including, without limitation, the refunding referred to in Chapter 8 (commencing with Section 31000), it shall, by ordinance, adopted by a vote of two-thirds of all members of the board, so declare and call an election to be held in the district for the purpose of submitting to the qualified voters thereof the proposition of incurring indebtedness by the issuance of bonds of the district. The ordinance shall state all of the following:
(a) The purposes for which the proposed debt is to be incurred, which may include all costs and estimated costs necessary or convenient for, incidental to, or connected with the accomplishment of those purposes, including, without limitation, engineering, inspection, legal, fiscal agents, financial consultant, and other fees, bond and other reserve funds, working capital, bond interest estimated to accrue during the construction period and for a period not to exceed three years thereafter, and expenses of all proceedings for the authorization, issuance, and sale of the bonds.
(b) The estimated cost of accomplishing those purposes.
(c) The amount of the principal of the indebtedness.
(d) The maximum term the bonds proposed to be issued shall run before maturity, which shall not exceed 50 years from the date thereof or the date of each series thereof.
(e) The maximum rate of interest to be paid, which shall not exceed the maximum rate allowed by law.
(f) The proposition to be submitted to the voters, which may include one or more purposes.
(g) The date of the election.
(h) The manner of holding the election and the procedure for voting for or against the measure.
(i) The ordinance may also contain any other matters authorized by this part or any other law.
(Amended by Stats. 1984, Ch. 144, Sec. 186.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization and Issuance of Bonds › Section 30901.

30901. Notice of the holding of such election shall be given by publishing, pursuant to Section 6066 of the Government Code, the ordinance calling the election in at least one newspaper published in such district. No other notice of such election need be given. Except as otherwise provided in the ordinance, the election shall be conducted as other district elections.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization and Issuance of Bonds › Section 30902.

30902. If any proposition is defeated by the electors, the board shall not call another election on a substantially similar proposition to be held within six months after the prior election. If a petition requesting submission of such a proposition, signed by 15 percent of the district electors, as shown by the votes cast for all candidates for governor at the last gubernatorial election, is filed with the board, it may call an election before the expiration of six months.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization and Issuance of Bonds › Section 30903.

30903. If 60 percent of the electors voting on the proposition vote for it, then the board may, by resolution, at such time or times as it deems proper, issue bonds of the district for the whole or any part of the amount of the indebtedness so authorized and may from time to time, by resolution, provide for the issuance of such amounts as the necessity thereof may appear, until the full amount of such bonds authorized shall have been issued. Said full amount of bonds may be divided into two or more series and different dates and different dates of payment fixed for the bonds of each series. A bond need not mature on an anniversary of its date. The maximum term the bonds of any series shall run before maturity shall not exceed 50 years from the date of each series respectively. In such resolution or resolutions the board shall prescribe the form of the bonds (including, without limitation, registered bonds and coupon bonds) and the form of any coupons to be attached thereto, the registration, conversion and exchange privileges, if any, pertaining thereto, and fix the time when the whole or any part of the principal shall become due and payable.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization and Issuance of Bonds › Section 30904.

30904. The bonds shall bear interest at a rate or rates not exceeding the maximum rate allowed by law, payable semiannually, except that the first interest payable on the bonds or any series thereof may be for any period not exceeding one year as determined by the board. In the resolution or resolutions providing for the issuance of the bonds, the board may also provide for call and redemption of the bonds prior to maturity at the times and prices and upon any other terms as it may specify. However, no bond shall be subject to call or redemption prior to maturity unless it contains a recital to that effect or unless a statement to that effect is printed thereon. The denomination or denominations of the bonds shall be stated in the resolution providing for their issuance, but shall not be less than one thousand dollars ($1,000). The principal of, and interest on, the bonds shall be payable in lawful money of the United States at the office of the treasurer of the district or at any other place or places as may be designated, or at either place or places at the option of the holders of the bonds. The bonds shall be dated, numbered consecutively, signed by the president and treasurer, and countersigned by the secretary, and the official seal of the district shall be attached. The interest coupons of the bonds shall be signed by the treasurer. All the signatures, countersignatures, and seal may be printed, lithographed, or mechanically reproduced, except that one of the signatures or countersignatures on the bonds shall be manually affixed. If any officer whose signature or countersignature appears on bonds or coupons ceases to be that officer before the delivery of the bonds, his or her signature is as effective as if the officer had remained in office.
(Amended by Stats. 1983, Ch. 497, Sec. 18.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization and Issuance of Bonds › Section 30905.

30905. The bonds may be sold as the board determines by resolution but for not less than par. Before selling the bonds, or any part thereof, the board shall give notice inviting sealed bids in such manner as it may prescribe. If satisfactory bids are received the bonds offered for sale shall be awarded to the highest responsible bidder. If no bids are received or if the board determines that the bids received are not satisfactory as to price or responsibility of the bidders the board may reject all bids received, if any, and either readvertise or sell the bonds at private sale.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization and Issuance of Bonds › Section 30906.

30906. Delivery of any bonds may be made at any place either inside or outside the State, and the purchase price may be received in cash or bank credits.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization and Issuance of Bonds › Section 30907.

30907. All accrued interest and premiums received on the sale of bonds shall be placed in the fund to be used for the payment of principal of and interest on the bonds and the remainder of the proceeds of the bonds shall be placed in the treasury to the credit of the proper improvement fund and applied exclusively to the purposes for which the debt was incurred; provided, however, that when said purposes have been accomplished any moneys remaining in such improvement fund (a) shall be transferred to the fund to be used for the payment of principal of and interest on the bonds, or (b) shall be placed in a fund to be used for the purchase of outstanding bonds of the district from time to time in the open market at such prices and in such manner, either at public or private sale or otherwise, as the board may determine. Bonds so purchased shall be canceled immediately.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization and Issuance of Bonds › Section 30908.

30908. After the expiration of three years after a bond election the board may determine, by ordinance adopted by a vote of two-thirds of all the members of the board, that any or all of the bonds authorized at said election remaining unsold shall not be issued or sold. When the ordinance takes effect, the authorization to issue said bonds shall become void.
(Amended by Stats. 1967, Ch. 1215.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization and Issuance of Bonds › Section 30909.

30909. Whenever the board deems that the expenditure of money for the purposes for which the bonds were authorized by the voters is impractical or unwise, it may, by ordinance adopted by a vote of two-thirds of all members of the board, so declare and call an election to be held in the district for the purpose of submitting to the qualified voters thereof the proposition of incurring indebtedness by the issuance of such bonds for some other purposes or, in the case where bonds have been sold, the proposition to use the proceeds for some other purposes. The procedure, so far as applicable, shall be the same as when a bond proposition is originally submitted.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization and Issuance of Bonds › Section 30912.

30912. The provisions of Article 4 (commencing with Section 53500), Chapter 3, Part 1, Division 2, Title 5 of the Government Code are applicable to the district.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 1 - Authorization and Issuance of Bonds › Section 30913.

30913. Any bonds which shall be issued under the provisions of this article 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 other districts within the State of California, such money or funds may be invested in the bonds issued under this part, and whenever bonds of cities, cities and counties, counties, school districts, or other 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 article 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. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Revenue Bonds › Section 30930.

30930. Whenever the board deems it necessary for the district to incur a revenue bonded indebtedness for the acquisition, construction, development, joint development, operation, maintenance, completion, or repair of any or all improvements, works, property, or facilities authorized by this part or necessary or convenient for the carrying out of the powers of the district, or for any other purpose authorized by this part, including, without limitation, the refunding referred to in Chapter 8 (commencing with Section 31000), the board shall provide for the issuance of the revenue bonds in accordance with 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), as it now exists or may hereafter be amended; except that, (a) if the board provides for the issuance of the revenue bonds by ordinance adopted by a vote of two-thirds of all the members of the board, which ordinance shall be subject to referendum, and (b) no election is required by Section 30932, no election need be called or held for the purpose of authorizing the issuance of the revenue bonds.
Revenue bonds may include one or more purposes; and the purposes for which revenue bonds may be issued may include, without limitation, all costs and estimated costs incidental to, or connected with, the accomplishment of that purpose, or purposes, including, without limitation, engineering, inspection, legal, fiscal agents, financial consultant, and other fees, bond and other reserve funds, working capital, bond interest estimated to accrue during the construction period and for a period not to exceed three years thereafter, and expenses of all proceedings for the authorization, issuance, and sale of the bonds.
(Amended by Stats. 1983, Ch. 497, Sec. 20.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Revenue Bonds › Section 30931.

30931. The district is hereby declared to be a local agency within the meaning of the Revenue Bond Law of 1941. The term “enterprise” as used in the Revenue Bond Law of 1941 shall for all purposes of this part include any or all improvements, works, property or facilities, authorized by this part or necessary or convenient for the carrying out of the powers of the district.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 2 - Revenue Bonds › Section 30932.

30932. Revenue bonds issued under the provisions of this Article 2 shall be subject to the priorities set forth in Section 30638. Revenue bonds shall have a priority as to the use of revenues superior to that of any bonds for improvement districts issued under Article 5 of this chapter. Revenue bonds having a priority as to the use of revenues superior to that of any bonds issued under Article 1 of this chapter may be issued if the proposition for the issuance of such revenue bonds with such priority shall have been submitted by the board by the same vote required under Article 1 and approved by the electors by the same vote required under Article 1.
(Amended by Stats. 1967, Ch. 1215.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 3 - Equipment Trust Certificates › Section 30940.

30940. The district shall have power to purchase equipment such as cars, trolley buses and motorbuses, rolling equipment, and may execute agreements, leases and equipment trust certificates in the forms customarily used by private corporations engaged in the rapid transit business appropriate to effect such purchase and leasing of rolling equipment and may dispose of such equipment trust certificates upon such terms and conditions as the board may deem appropriate. All money required to be paid by the district under the provisions of such agreements, leases and equipment trust certificates shall be payable solely from the revenue or income to be derived from the transportation system and from grants or loans, or both, as provided in Sections 30701, 30702, and 30703 of this part. Payment for such equipment, or rentals therefor, may be made in installments, and the deferred installments may be evidenced by equipment trust certificates payable solely from such revenue, income, grants, or loans, and title to such equipment shall not vest in the district until the equipment trust certificates are paid.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 3 - Equipment Trust Certificates › Section 30941.

30941. The agreement to purchase or lease may direct the vendor or lessor to sell and assign or lease the rolling equipment to a bank or trust company duly authorized to transact business in the State of California as trustee, lessor or vendor for the benefit and security of the equipment trust certificates and may direct such trustee to deliver the rolling equipment to one or more designated officers of the district and may authorize the district to simultaneously therewith execute and deliver an installment purchase agreement or a lease of the equipment to the district.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 3 - Equipment Trust Certificates › Section 30942.

30942. The agreements and leases shall be duly acknowledged before some person authorized by law to take acknowledgments of deeds and in the form required for acknowledgment of deeds and such agreements, leases, and equipment trust certificates shall be authorized by resolution of the district and shall contain such covenants, conditions and provisions which may be deemed necessary or appropriate to insure the payment of the equipment trust certificates from such revenue, income, grants or loans.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 3 - Equipment Trust Certificates › Section 30943.

30943. The covenants, conditions and provisions of the agreements, leases, and equipment trust certificates shall not conflict with any of the provisions of any agreement securing the payment of bonds, notes or certificates of the district.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 4 - Temporary Borrowing › Section 30950.

30950. Prior to the time moneys authorized by special taxes under Part 16 (commencing with Section 36000) of Division 2 of the Revenue and Taxation Code and already levied by the county are available or funds are allocated to the district under said part or other state or federal laws, the district may borrow money to provide funds for the purposes provided in Section 30636 of this code, and for the expenses of the calling, giving notice of, holding and conducting of any bond election under this part.
The amount to be borrowed pursuant to this section shall be evidenced by notes bearing interest at a rate of not to exceed 6 percent per annum, payable annually or semiannually, maturing not more than two years from their date and subject to call and redemption at the option of the district at any time prior to their stated maturity dates on the terms and conditions specified by the board and stated in the notes. The amount to be borrowed pursuant to this section (including both the principal of and interest to maturity on the notes evidencing such borrowing) shall not exceed eighty-five percent (85%) of the special tax or said other moneys to be used to repay said notes and interest thereon and to be received by the district between the date of borrowing and the final maturity date of the notes, as estimated by the auditor at the time of the borrowing. The notes shall be payable only from special taxes authorized under Part 16 (commencing with Section 36000) of Division 2 of the Revenue and Taxation Code and already levied by the county, or from other moneys allocated under state laws other than this part, or federal laws. The form of the notes and the provisions of the resolution or resolutions of the board providing for their issuance and sale shall be governed by the applicable provisions of this article.
(Repealed and added by Stats. 1966, 1st Ex. Sess., Ch. 90.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 4 - Temporary Borrowing › Section 30951.

30951. The district may borrow money in anticipation of the sale of bonds which have been authorized to be issued, but which have not been sold and delivered, and may issue negotiable bond anticipation notes therefor for the same purposes and may renew the same from time to time, but the maximum maturity of any such notes, including the renewals thereof, shall not exceed five years from the date of delivery of such original notes. Such notes shall be paid from any moneys of the district from which said bonds would be payable. If not so paid the notes shall be paid from the proceeds of the next sale of the bonds of the district in anticipation of which they were issued, and if said bonds are not issued, then taxes may be levied for their payment in the same manner as taxes are levied for said bonds. Such notes shall not be issued in an amount in excess of the aggregate amount of authorized bonds of the district remaining, less the amount of bond anticipation notes outstanding. Such notes shall be in such form as the board of directors of the district may select and may include any applicable provisions of the bonds in anticipation of which they were issued. The notes may be sold as the board of directors of the district determines by resolution but not for less than par. Before selling the notes or any part thereof the board of directors shall give notice inviting sealed bids in such manner as it may prescribe. If satisfactory bids are received the notes offered for sale shall be awarded to the highest responsible bidder. If no bids are received or if the board of directors determines that the bids received are not satisfactory as to price or responsibility of the bidders, the board of directors may reject all bids received, if any, and readvertise for sealed bids.
(Added by Stats. 1966, 1st Ex. Sess., Ch. 90.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 4 - Temporary Borrowing › Section 30952.

30952. (a) Notwithstanding any provision of Article 7.7 (commencing with Section 53859) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code, the district may borrow money for the purchase of buses and rolling stock, or transportation facilities, or for capital improvement, by the issuance of grant anticipation notes issued pursuant to that article that are payable on the basis of any of the following:
(1) From appropriated state funds.
(2) From other funds committed, but not appropriated, and evidenced by an appropriate document of intent.
(3) On specific dates or events and evidenced by an appropriate document of intent.
(b) In addition to the grant money that may be pledged for the payment of the notes pursuant to Section 53859.06 of the Government Code, the district may pledge as security, on terms that it deems appropriate, the buses, rolling stock, or other transportation facilities acquired with the proceeds of the notes.
(Amended by Stats. 1984, Ch. 153, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 5 - Improvement Districts › Section 30961.

30961. Notice of said hearing shall be given by publishing a copy of the resolution declaring the necessity pursuant to Section 6066 of the Government Code prior to the time fixed for the hearing in at least one newspaper published in the district.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 5 - Improvement Districts › Section 30962.

30962. At the time and place so fixed, or at any time and place to which the hearing is adjourned, the board shall proceed with the hearing. At the hearing, any person interested, including any person owning property within the district or within the proposed improvement district or districts, may appear and present any matters material to the questions set forth in the resolution declaring the necessity.
(Amended by Stats. 1983, Ch. 497, Sec. 22.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 5 - Improvement Districts › Section 30963.

30963. The board may change the purposes for which the proposed debt is to be incurred, or the estimated cost, or the amount of bonded debt to be incurred, or the boundaries of the proposed improvement district or districts, or one or all of those matters. However, the board shall not change the boundaries so as to include any territory which will not, in its judgment, be benefited by the improvement.
(Amended by Stats. 1983, Ch. 497, Sec. 23.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 5 - Improvement Districts › Section 30964.

30964. The purposes, estimated cost, amount of bonded debt, or boundaries shall not be changed by the board except after notice of its intention to do so, given by publication pursuant to Section 6061 of the Government Code in at least one newspaper published in the district. The notice shall state the changed purposes and the estimated cost and debt proposed and that the exterior boundaries as proposed to be changed are set forth on a map on file with the secretary of the district, which map shall govern for all details as to the extent of the proposed improvement district or districts, and specify the time and place for hearing on the change or changes, which time shall be at least 10 days after the publication of the notice.
(Amended by Stats. 1983, Ch. 497, Sec. 24.)
2023 California Code › Public Utilities Code - PUC › DIVISION 10 - TRANSIT DISTRICTS › PART 3 - SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT › CHAPTER 7 - Bonds and Other Evidences of Indebtedness › ARTICLE 5 - Improvement Districts › Section 30965.

30965. At the time and place so fixed, or at any time and place to which the hearing is adjourned, the board shall proceed with the hearing. At the hearing, any person interested, including any person owning property within the district or the proposed improvement district or districts, may appear and present any matters material to the changes stated in the notice.
(Amended by Stats. 1983, Ch. 497, Sec. 25.)