SECTIONS 120630-120631 - California Statutes

PUBLIC UTILITIES CODE

SECTION 120630-120631

120630. The board may issue bonds, payable from revenue of any
facility or enterprise to be acquired or constructed by, or on behalf
of, the board, in the manner provided by the Revenue Bond Law of
1941 (Chapter 6 (commencing with Section 54300) of Part 1 of Division
2 of Title 5 of the Government Code), and all of the provisions of
that law are applicable to the board.

120631. The board is a local agency within the meaning of the
Revenue Bond Law of 1941 (Chapter 6 (commencing with Section 54300)
of Part 1 of Division 2 of Title 5 of the Government Code). The term
"enterprise," as used in the Revenue Bond Law of 1941, for all
purposes of this article, includes the transit system or any or all
transit facilities and all additions, extensions, and improvements
thereto authorized to be acquired, constructed, or completed by the
board.
The board may issue revenue bonds under the Revenue Bond Law of
1941 for any one or more transit facilities authorized to be
acquired, constructed, or completed by, or on behalf of, the board
or, in the alternative, the board may issue revenue bonds under the
Revenue Bond Law of 1941 for the acquisition, construction, and
completion of any one of those transit facilities.
Nothing in this article prohibits the board from availing itself
of, or making use of, any procedure provided in this chapter for the
issuance of bonds of any type or character for any of the transit
facilities authorized hereunder, and all proceedings may be carried
on simultaneously or, in the alternative, as the board may determine.