reglab/statecodes huggingface dataset:
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 9 - Transaction and Use Taxes in the County of Orange › Section 130413.

130413. The commission may further, as part of the same proposition, submit to the voters a proposal to increase any appropriations limits heretofore imposed upon the commission by the amount of the proceeds of the sales tax not entitled to an exemption from those limits as debt service. In this case, the ballot proposition shall, in addition to the language set forth in Sections 130411 and 130412, further include the following words: “and increases the appropriations limit.”
(Added by Stats. 1983, Ch. 1320, Sec. 1.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 9 - Transaction and Use Taxes in the County of Orange › Section 130420.

130420. (a) The bonds authorized by the voters concurrently with the approval of the retail transactions and use tax may be issued by the commission at any time, and from time to time, payable solely from the proceeds of the tax. The bonds shall be referred to as “limited tax bonds.”
(b) The pledge of retail transactions and use taxes to the limited tax bonds authorized under this article shall have priority over the use of any of the funds for “pay-as-you-go” financing except to the extent that that priority is expressly restricted in the resolution providing for the issuance of the bonds.
(Added by Stats. 1983, Ch. 1320, Sec. 1.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 9 - Transaction and Use Taxes in the County of Orange › Section 130421.

130421. (a) Limited tax bonds shall be issued pursuant to a resolution adopted at any time, and from time to time, by the commission by a two-thirds vote of all members of the commission. Each resolution shall provide for the issuance of bonds in such amounts as the necessity therefor may appear, until the full amount of the bonds authorized shall have been issued. The full amount of bonds may be divided into two or more series and different dates of payment fixed for the bonds of each series. A bond need not mature on its anniversary date.
(b) A resolution providing for the issuance of bonds shall state all of the following:
(1) The purposes for which the proposed debt is to be incurred, which may include all costs and estimated costs 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.
(2) The estimated cost of accomplishing the purposes.
(3) The amount of the principal of the indebtedness.
(4) The maximum term the bonds, proposed to be issued, shall run before maturity, which shall not exceed 31 years from the date thereof or the date of each series thereof.
(5) The maximum rate of interest to be paid, which shall not exceed the maximum allowable by law.
(6) The denomination or denominations of the bonds, which shall not be less than five thousand dollars ($5,000).
(7) The form of the bonds, including, without limitation, registered bonds and coupon bonds, to the extent permitted by federal law, and the form of any coupons to be attached thereto, the registration, conversion, and exchange privileges, if any, pertaining thereto, and the time when the whole or any part of the principal shall become due and payable.
(c) The resolution may also contain any other matters authorized by this article or any other law.
(Added by Stats. 1983, Ch. 1320, Sec. 1.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 9 - Transaction and Use Taxes in the County of Orange › Section 130422.

130422. (a) The bonds shall bear interest at a rate or rates not exceeding the maximum allowable 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 commission.
(b) In the resolution or resolutions providing for the issuance of the bonds, the commission may also provide for call and redemption of the bonds prior to maturity at such times and prices and upon such other terms as it may specify, provided that 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.
(c) 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 County of Orange or at such other place or places as may be designated, or at either place or places at the option of the holders of the bonds.
(d) The bonds, or each series thereof, shall be dated and numbered consecutively and shall be signed by the chairman or vice chairman of the commission and the auditor-controller of the County of Orange, and the official seal of the commission attached. The interest coupons of such bonds shall be signed by the auditor-controller of the County of Orange. All of the signatures and seal may be printed, lithographed, or mechanically reproduced, except that one of the signatures on the bonds shall be manually affixed. If any officer whose signature appears on bonds or coupons ceases to be such an officer before the delivery of the bonds, the officer’s signature is as effective as if the officer had remained in office.
(Added by Stats. 1983, Ch. 1320, Sec. 1.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 9 - Transaction and Use Taxes in the County of Orange › Section 130423.

130423. (a) The bonds may be sold as the commission determines by resolution. The commission may sell the bonds at a price below par; provided, however, that the discount on any bonds so sold shall not exceed 5 percent of the par value thereof.
(b) Before selling the bonds, or any part thereof, the commission shall give notice inviting sealed bids in any 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 commission determines that the bids received are not satisfactory as to price or responsibility of the bidders, the commission may reject all bids received, if any, and either readvertise or sell the bonds at private sale.
(Added by Stats. 1983, Ch. 1320, Sec. 1.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 9 - Transaction and Use Taxes in the County of Orange › Section 130424.

130424. 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. 1983, Ch. 1320, Sec. 1.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 9 - Transaction and Use Taxes in the County of Orange › Section 130425.

130425. 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 of the commission and applied to secure the bonds or for the purposes for which the debt was incurred; provided, however, that when the purposes have been accomplished, any moneys remaining shall be either (a) transferred to the fund to be used for the payment of principal of and interest on the bonds or (b) placed in a fund to be used for the purchase of outstanding bonds of the commission 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 commission may determine. Bonds so purchased shall be canceled immediately.
(Added by Stats. 1983, Ch. 1320, Sec. 1.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 9 - Transaction and Use Taxes in the County of Orange › Section 130430.

130430. (a) The commission may provide for the issuance, sale, or exchange of refunding bonds to redeem or retire any bonds issued by the commission upon the terms, at the times and in the manner which it determines.
(b) Refunding bonds may be issued in a principal amount sufficient to pay all, or any part of, the principal of the outstanding bonds, the premiums, if any, due upon call and redemption thereof prior to maturity, all expenses of the refunding, and either (a) the interest upon the refunding bonds from the date of sale thereof to the date of payment of the bonds to be refunded out of the proceeds of the sale of the refunding bonds, or to the date upon which the bonds to be refunded will be paid pursuant to call or agreement with the holders of such bonds or (b) the interest upon the bonds to be refunded from the date of sale of the refunding bonds to the date of payment of the bonds to be refunded or to the date upon which the bonds to be refunded will be paid pursuant to call or agreement with the holders of the bonds.
(c) The provisions of this article for the issuance and sale of bonds apply to the issuance and sale of refunding bonds.
(Added by Stats. 1983, Ch. 1320, Sec. 1.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 9 - Transaction and Use Taxes in the County of Orange › Section 130435.

130435. (a) The commission may borrow money in anticipation of the sale of bonds which have been authorized pursuant to this article, but which have not been sold and delivered, and may issue negotiable bond anticipation notes therefor and may renew the bond anticipation notes from time to time, but the maximum maturity of any bond anticipation notes, including the renewals thereof, shall not exceed five years from the date of delivery of the original bond anticipation notes.
(b) The bond anticipation notes, and the interest thereon, may be paid from any moneys of the commission available therefor, including the revenues from the retail transactions and use taxes imposed pursuant to this article. If not previously otherwise paid, the bond anticipation notes, or any portion thereof, or the interest thereon, shall be paid from the proceeds of the next sale of the bonds of the commission in anticipation of which the notes were issued.
(c) The bond anticipation notes shall not be issued in any amount in excess of the aggregate amount of bonds which the commission has been authorized to issue, less the amount of any bonds of the authorized issue previously sold, and also less the amount of other bond anticipation notes therefor issued and then outstanding. The bond anticipation notes shall be issued and sold in the same manner as the bonds.
(d) The bond anticipation notes and the resolution or resolutions authorizing them may contain any provisions, conditions, or limitations which a resolution of the commission authorizing the issuance of bonds may contain.
(Added by Stats. 1983, Ch. 1320, Sec. 1.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 9 - Transaction and Use Taxes in the County of Orange › Section 130440.

130440. 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, commercial and savings banks, 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, that money or funds may be invested in the bonds issued under this article, 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 bonds issued under this article 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. 1983, Ch. 1320, Sec. 1.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 9 - Transaction and Use Taxes in the County of Orange › Section 130441.

130441. Any action or proceeding wherein the validity of the adoption of the retail transactions and use tax ordinance provided for in this article or the issuance of any bonds thereunder or any of the proceedings in relation thereto is contested, questioned, or denied, shall be commenced within six months from the date of the election at which the ordinance is approved; otherwise, the bonds and all proceedings in relation thereto, including the adoption and approval of the ordinance, shall be held to be valid and in every respect legal and incontestable.
(Added by Stats. 1983, Ch. 1320, Sec. 1.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 9 - Transaction and Use Taxes in the County of Orange › Section 130442.

130442. If the measure to adopt the transaction and use tax pursuant to Section 130401 is not submitted to the electors on or before December 31, 1985, then this article shall remain in effect only until January 1, 1986, and as of that date is repealed unless a later enacted statute, which is chaptered before January 1, 1986, repeals or extends that date.
(Added by Stats. 1983, Ch. 1320, Sec. 1. Note: Article 9 (commencing with Section 130400) was not repealed as provided in this section because the conditions failed.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 10 - Regional Transit Services Program › Section 130450.

130450. For purposes of this article:
(a) “Commissions” means the county transportation commissions of Los Angeles, Orange, Riverside, and San Bernardino Counties.
(b) “Region” means the multicounty region within the collective jurisdiction of the four commissions.
(c) “Regional transit service” means each existing and planned public transit service, including those which are privately owned and which either receive public funds or are operated under an agreement pursuant to Section 143 of the Streets and Highways Code, whether provided by rail or bus, which operates or is planned for operation between two or more counties within the region.
(Amended by Stats. 1991, Ch. 1091, Sec. 137. Section operative on date prescribed in Section 130455.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 10 - Regional Transit Services Program › Section 130451.

130451. (a) The commissions shall jointly develop an implementation program for regional transit services. In developing the program, the commissions shall consult with the Southern California Association of Governments, the California Transportation Commission, the Los Angeles-San Diego Rail Corridor Agency, and the South Coast Air Quality Management District.
(b) The program shall include, at a minimum, all of the following:
(1) A system plan and map of all regional transit services.
(2) An implementation plan and schedule to establish each regional transit service not already in existence, including, if appropriate, a schedule of necessary construction and procurement.
(3) A policy and implementation plan for the coordination of technologies, fares, and schedules to maximize the ability and convenience of passengers to transfer among regional transit services and to and from other publicly owned or privately owned mass transit services in each county connecting to the regional transit services.
(4) A program for the operation of regional transit services to provide as efficient and convenient a service as is appropriate.
(c) The program shall consider the specialized transportation needs of elderly and handicapped persons.
(d) The program shall be consistent with and implement the adopted regional transportation plan for the region.
(Added by Stats. 1990, Ch. 114, Sec. 1. Effective May 25, 1990. Section operative on date prescribed in Section 130455.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 10 - Regional Transit Services Program › Section 130452.

130452. The commissions shall hold a joint public hearing in each county in their jurisdiction on the draft program no earlier than 30 days after the draft has been completed. Following the public hearings, each commission shall adopt the regional transit services program.
(Amended by Stats. 1991, Ch. 1091, Sec. 138. Section operative on date prescribed in Section 130455.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 10 - Regional Transit Services Program › Section 130453.

130453. The initial regional transit services draft program shall be completed by December 1, 1990. The initial program need not reflect intercounty bus services. The commissions shall, in accordance with this article, prepare, adopt, and implement a revised regional transit services program every two years. Revisions to the program shall include both intercounty rail and bus services.
(Added by Stats. 1990, Ch. 114, Sec. 1. Effective May 25, 1990. Section operative on date prescribed in Section 130455.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 10 - Regional Transit Services Program › Section 130454.

130454. The adopted program shall serve as the basis for a coordinated application submitted by the commissions for funds allocated by the California Transportation Commission. Nothing in this article precludes a commission from applying for funding prior to the adoption of the initial program.
(Added by Stats. 1990, Ch. 114, Sec. 1. Effective May 25, 1990. Section operative on date prescribed in Section 130455.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 4 - Powers and Functions › ARTICLE 10 - Regional Transit Services Program › Section 130455.

130455. This article shall become operative only if the Los Angeles County Transportation Commission, the Orange County Transportation Commission, the Riverside County Transportation Commission, and the San Bernardino County Transportation Commission, each adopt a resolution making this article applicable to it, in which case the operative date of this article shall be the date upon which the latest of those resolutions is adopted.
(Added by Stats. 1990, Ch. 114, Sec. 1. Effective May 25, 1990. Note: This section provides for contingent operation of Article 10, commencing with Section 130450.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 1 - General Provisions › Section 130500.

130500. This chapter shall be known and may be cited as the Los Angeles County Transportation Commission Revenue Bond Act.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 1 - General Provisions › Section 130501.

130501. The Legislature finds that alternative methods of financing provided in this chapter are needed to finance the cost of acquiring, constructing, and developing facilities for transit systems in the County of Los Angeles and that these methods will increase economic opportunities, contribute to economic development, be in the public interest and serve a public purpose, and promote the health, safety, and welfare of citizens within the County of Los Angeles.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 1 - General Provisions › Section 130502.

130502. It is the purpose of this chapter to carry out and make effective the findings of the Legislature and, to that end, to provide an alternative method of financing in acquiring, constructing, or rehabilitating facilities to be used as part of transit systems, all to the mutual benefit of the people of the County of Los Angeles and to protect their health and welfare.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 2 - Definitions › Section 130510.

130510. Unless the context otherwise requires, the definitions in this article govern the construction of this chapter.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 2 - Definitions › Section 130511.

130511. “Bonds” means indebtedness and securities of any kind or class, including bonds, notes, bond anticipation notes, commercial paper, and other obligations.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 2 - Definitions › Section 130512.

130512. “Commission” means the Los Angeles County Transportation Commission created pursuant to Section 130050 and any board, commission, department, or officer succeeding to the functions thereof or to whom the powers conferred upon the commission by this division is granted by law.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 2 - Definitions › Section 130513.

130513. “Cost,” as applied to a project or portion thereof financed under this chapter, means all or any part of the cost of construction and acquisition of all real or personal property, rights, rights-of-way, franchises, easements, and interests acquired or used for a project, the cost of demolishing or removing any structures on land so acquired, including the cost of acquiring any land to which the structures may be removed, the cost of all machinery and equipment, vehicles, rolling stock, financing charges, interest prior to, during, and for a period after completion of construction as determined by the commission, provisions for working capital, reserves for principal and interest, and for extensions, enlargements, additions, replacements, renovations, and improvements, the cost of architectural, engineering, financial, and legal services, plans, specifications, estimates, and administrative expenses, and other expenses necessary or incidental to the determination of the feasibility of constructing any project or incidental to the construction, acquisition, or financing of any project.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 2 - Definitions › Section 130514.

130514. “Notes” means notes and agreements relating thereto, bond anticipation notes, and commercial paper.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 2 - Definitions › Section 130515.

130515. “Transit project” or “project” means real and personal property, including, but not limited to, land, structures and all improvements thereto, works, vehicles, rolling stock, rights-of-way, easements, rail lines, rail beds, stations, platforms, switches, yards, terminals, parking facilities, other facilities adjacent to or nearby rail transit stations which are designed to be used in conjunction with the station, and any and all other facilities or equipment necessary or convenient for the provision of transit service, whether under, on, or above the ground, including public streets, highways, bridges, or other public ways or waterways, together with all physical structures necessary or convenient for the access of persons and vehicles thereto.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 2 - Definitions › Section 130516.

130516. “Public agency” means any state agency, department, board, or commission, any county, city, regional agency, district, or other political subdivision.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 2 - Definitions › Section 130517.

130517. “Public transit purposes,” as used in this chapter and in Section 130354, includes a pledge of transactions and use tax revenues to secure any bonds issued pursuant to this chapter, the payment or provision for payment of the principal of the bonds and any premium, interest on the bonds, and the costs of issuance of the bonds.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 2 - Definitions › Section 130518.

130518. “Revenues” means all rents, receipts, purchase payments, and all other income or receipts derived by the commission, whether from fares, the sale, lease, or other disposition of transit facilities or projects or otherwise, and any income or revenue derived from the investment of any money in any fund or account of the commission.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 2 - Definitions › Section 130519.

130519. (a) The “Los Angeles Metro Rail project” means an 18.6 mile rail line and necessary support facilities and equipment as described in the June 1983 Environmental Impact Statement and Environmental Report, Los Angeles Rail Rapid Transit Project, Metro Rail.
(b) The ”initial segment of the Los Angeles Metro Rail project” means that portion of the project which the United States Department of Transportation has approved and committed federal funds for initial construction.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 3 - General Powers and Duties › Section 130520.

130520. The commission may incur indebtedness and obligations as provided by this chapter.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 3 - General Powers and Duties › Section 130521.

130521. The commission may acquire by deed, purchase, lease, contract, gift, devise, or otherwise, any real or personal property, structures, rights, rights-of-way, franchises, easements, air, land, and development rights, and other interests in lands located within this state necessary or convenient for the construction or operation of a project, upon terms and conditions it deems advisable, and to lease, develop, jointly develop, maintain, operate, or dispose of any property, right, or interest in the manner that is necessary or desirable to carry out the objects and purposes of this chapter. Nothing in this chapter provides eminent domain power.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 3 - General Powers and Duties › Section 130522.

130522. The commission may do all of the following:
(a) Fix, collect, and revise from time to time, rates, rents, fees, fares, and charges for the use of, and for any facilities furnished or to be furnished by, a project or any part thereof, except that no rent, fee, fare, or charge may be imposed on an operator for the use of the facilities used in the operation of its transit guideway system.
(b) Contract with any individual, partnership, association, corporation, or public agency with respect to a project.
(c) Provide and maintain, by contract with any public agency or otherwise, a security force to enforce its regulations, preserve and protect the projects financed pursuant to this chapter, and preserve and protect the public peace, health, and safety with respect to these projects.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130530.

130530. The commission may issue bonds for purposes authorized by this chapter, and to fund or refund them, pursuant to this chapter.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130531.

130531. Notwithstanding any other provision of law:
(a) The commission and its revenues are exempt from all taxes on, or measured by, income.
(b) Bonds issued by the commission are exempt from all property taxation, and the interest on the bonds are exempt from all taxes on income.
(c) All property owned by the commission is exempt from property taxes, assessments, and other public charges secured by liens.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130532.

130532. The commission may from time to time issue or renew notes in anticipation of the sale of bonds or otherwise. The commission may also issue notes partly to renew notes or to discharge any other outstanding obligation and partly for any other purpose. Notes may be authorized, sold, and delivered in the same manner as bonds. Any resolution of the commission authorizing notes may contain any provision which the commission may include in any resolution authorizing bonds, and the commission may include in the notes any terms, covenants, or conditions which it may include in bonds. Notes shall be paid from any revenues of the commission or other money available therefor and not otherwise pledged, or from the proceeds of the sale of the bonds in anticipation of which the notes were issued, subject to any contractual rights of the holders of any outstanding notes or other obligations.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130533.

130533. (a) Except as provided in this subdivision and as may be otherwise expressly provided by the commission, all issues of its bonds are special obligations of the commission payable from any revenues or money of the commission available therefor and not otherwise pledged, subject only to any agreement with the holders of particular bonds pledging any particular revenues or money. However, the commission may not pledge revenues or money from the following sources: federal funds provided under Sections 1602 and 1607a of Title 49 of the United States Code, funds allocated pursuant to subdivisions (a) and (b) of Section 99312 from a state transit assistance fund created pursuant to Section 99313.6, funds allocated from the Transportation Planning and Development Account in the State Transportation Fund, funds subject to Article XIX of the California Constitution, and funds provided pursuant to the Mills-Alquist-Deddeh Act (Chapter 4 (commencing with Section 99200) of Part 11 of Division 10).
(b) The commission may not pledge any of its revenue derived from the retail transactions and use tax which have been allocated to a city pursuant to the ordinance adopted pursuant to Section 130350, unless the city has authorized the pledging of its allocation.
(c) Notwithstanding that the bonds may be payable from a special fund, they are for all purposes negotiable instruments, subject only to the provisions of the bonds for registration.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130534.

130534. (a) The bonds may be issued as serial bonds or as term bonds, or the commission, in its discretion, may issue bonds of both types.
(b) The bonds shall be authorized by resolution of the commission and shall bear the date or dates, mature at the time or times, not exceeding 50 years from their respective dates, bear interest at the rate or rates, be payable at the time or times, be in the denominations, be in registered form, carry the registration privileges, be executed in the manner, be payable in lawful money of the United States of America at the place or places, and be subject to the terms of redemption, as the resolution or resolutions may provide.
(c) The bonds may be sold at public or private sale, and for the price or prices and on the terms and conditions as determined by the commission.
(d) Pending preparation of the bonds, the commission may issue interim receipts, certificates, or temporary bonds which shall be exchanged for the bonds. The commission may sell any bonds at a price below the par value thereof without any limitation on price.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130535.

130535. (a) At times that the commission desires to issue bonds, it shall adopt a resolution specifying the total amount of bonds proposed to be issued.
(b) Any resolution authorizing any bonds, or any issue of bonds, shall, to the extent applicable, contain provisions, which are a part of the contract with the holders of the bonds to be authorized, as to the following:
(1) Pledging all or any part of the revenues of any project or any revenue-producing contract or contracts made by the commission with any individual, partnership, corporation, or association or other body, public or private, or other money of the commission, to secure the payment of the bonds or of any particular issue of bonds, subject to any agreement with bondholders that may then exist.
(2) The rentals, fees, fares, purchase payments, and other charges to be charged, and the amounts to be raised in each year thereby, and the use and disposition of the revenues.
(3) The setting aside of reserves or sinking funds, and the regulation and disposition thereof.
(4) Limitations on the purpose to which the proceeds of sale of any issue of bonds then or thereafter to be issued may be applied, and pledging the proceeds to secure the payment of the bonds or any issue of the bonds.
(5) Limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured and the refunding of outstanding bonds.
(6) The procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds that the holders of which are required to consent thereto, and the manner in which the consent may be given.
(7) Limitations on expenditures for operating, administrative, or other expenses of the commission.
(8) Defining the acts or omissions to act which constitute a default in the duties of the commission to bondholders of the commission’s obligations, and providing the rights and remedies of the bondholders in the event of a default.
(9) The mortgaging of any project, or any part thereof, for the purpose of securing the bondholders.
(10) The terms and conditions of the sale, whether public or private, including, but not limited to, the price, interest rates, terms to maturity, security arrangements, and any other terms and conditions which the commission deems necessary under the circumstances.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130536.

130536. Neither the members of the commission, nor any person executing the bonds, are liable personally on the bonds, or are subject to any personal liability or accountability by reason of the issuance thereof.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130537.

130537. The commission may, from any funds available therefor, purchase its bonds. The commission may hold, pledge, cancel, or resell the bonds, subject to, and in accordance with, agreements with the bondholders.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130538.

130538. (a) At the discretion of the commission, any bonds issued under this chapter may be secured by a trust agreement by and between the commission and a trustee, which may be any trust company or bank having the powers of a trust company within or without the state.
(b) The trust agreement, or the resolution providing for the issuance of the bonds, may pledge or assign the revenues to be received or the proceeds of any contract pledged and may convey or mortgage the project, or any portion thereof, to be financed out of the proceeds of the bonds. The trust agreement, or resolution providing for the issuance of the bonds, may contain provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including particularly provisions specifically authorized to be included in any resolution of the commission authorizing bonds.
(c) Any bank or trust company which does business under the laws of the United States or of this state, which has its principal place of business in this state, and which may act as depository of the proceeds of bonds or of revenues or other moneys may furnish indemnifying bonds or pledge securities as may be required by the commission.
(d) Any trust agreement may set forth the rights and remedies of the bondholders and of the trustee, and may restrict the individual right of action by bondholders. In addition, any trust agreement or resolution may contain other provisions that the commission may deem reasonable and proper for the security of the bondholders.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130538.5.

130538.5. The commission shall take no action which will materially impair the security pledged for any bonds which it has previously issued.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130539.

130539. All expenses incurred in carrying out the provisions of the trust agreement or resolution may be treated as a part of the cost of the operation of a project.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130540.

130540. (a) Bonds issued under this chapter do not constitute a debt or liability of the state or of any other public agency, other than the commission, or a pledge of the faith and credit of the state or of any other public agency, other than the commission, but shall be payable solely from the funds provided therefor. All the bonds shall contain on the face thereof a statement to the following effect:
“Neither the faith and credit nor the taxing power of the State of California or any public agency, other than the Los Angeles County Transportation Commission, is pledged to the payment of the principal of, or interest on, this bond.”
(b) The issuance of bonds under this chapter does not in any manner obligate the state or any other public agency thereof to levy, or to pledge any form of, taxation therefor or to make any appropriation for their payment.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130541.

130541. The commission may provide for the issuance of bonds of the commission for the purpose of refunding any bond then outstanding, including the payment of any redemption premium thereon and any interest accrued or to accrue to the earliest or subsequent date of redemption, purchase, or maturity of the bonds and, if deemed advisable by the commission, for the additional purpose of paying all or any part of the cost of constructing and acquiring additions, improvements, extensions, or enlargements of a project or any portion thereof. The commission may issue refunding bonds to refinance its indebtedness only if the commission finds that the refunding is in the public interest due to the terms or conditions of the refunding, including, without limitation, lower net interest cost, maturity or maturities, call provisions, or similar terms and conditions.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130542.

130542. (a) The proceeds of any bonds issued for the purpose of refunding outstanding bonds may, in the discretion of the commission, be applied to the purchase or retirement at maturity or redemption of outstanding bonds either on their earliest or any subsequent redemption date or upon the purchase or retirement at the maturity thereof and may, pending such application, be placed in escrow to be applied to the purchase or retirement at maturity or redemption on the date as may be determined by the commission.
(b) Pending that use, the escrowed proceeds may be invested and reinvested by the commission or its trustee in obligations of, or guaranteed by, the United States of America, or in certificates of deposit or time deposits secured by obligations of, or guaranteed by, the United States of America, maturing at a time or times appropriate to ensure the prompt payment of principal, interest, and redemption premium, if any, of the outstanding bonds to be so refunded. The interest, income, and profits, if any, earned or realized on the investment may also be applied to the payment of the outstanding bonds to be so refunded. After the terms of the escrow have been fully satisfied and carried out, any balance of the proceeds and interest, income, and profits, if any, earned or realized on the investments thereof may be returned to the commission for use by it in any lawful manner.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130543.

130543. The proceeds of any bonds issued for the additional purpose of paying all or any part of the cost of constructing and acquiring additions, improvements, extensions, or enlargements of a project may be invested and reinvested by the commission or its trustee in obligations of, or guaranteed by, the United States of America, or in certificates of deposit or time deposits secured by obligations of, or guaranteed by, the United States of America, maturing not later than the time or times when the proceeds will be needed for the purpose of paying all or any part of the cost. The interest, income, and profits, if any, earned or realized on the investment may be applied to the payment of all or any part of the cost or may be used by the commission in any lawful manner.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130544.

130544. Bonds issued pursuant to Section 130542 are subject to this chapter in the same manner and to the same extent as other bonds issued pursuant to this chapter.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)
2023 California Code › Public Utilities Code - PUC › DIVISION 12 - COUNTY TRANSPORTATION COMMISSIONS › CHAPTER 5 - Los Angeles County Transportation Commission Revenue Bond Act › ARTICLE 4 - Bonds and Notes › Section 130545.

130545. The bonds issued pursuant to this chapter are legal investments for all trust funds, the funds of all insurance companies, commercial or savings banks, trust companies, savings and loan associations, and investment companies, for executors, administrators, guardians, conservators, trustees, and other fiduciaries, for state school funds, and for any funds which may be invested in county, municipal, or school district bonds. The bonds are securities which may properly and legally be deposited with, and received by, any state or municipal officer or any public agency for any purpose for which the deposit of bonds or obligations of the state is now, or may hereafter be, authorized by law, including deposits to secure public funds.
(Added by Stats. 1984, Ch. 1646, Sec. 2.)