SECTIONS 130500-130502 - California Statutes

PUBLIC UTILITIES CODE

SECTION 130500-130502

130500. This chapter shall be known and may be cited as the Los
Angeles County Transportation Commission Revenue Bond Act.

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.

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.