SECTIONS 29240-29241 - California Statutes

PUBLIC UTILITIES CODE

SECTION 29240-29241

29240. As an alternative procedure for the raising of funds, the
district is hereby authorized to issue bonds, payable from revenues
of any facility or enterprise to be acquired or constructed by the
district, in the manner provided by the Revenue Bond Law of 1941, all
of the provisions of which are hereby made applicable to the
district, provided however, that no election shall be required in the
case of revenue bonds authorized by the board of directors for rapid
transit facilities and any and all parts thereof and all additions,
extensions and improvements thereto and all other facilities
authorized to be acquired, constructed or completed by the district
under this part, if prior to such authorization a proposition for the
issuance of general obligation bonds has been adopted by vote of the
qualified electors of the district pursuant to Section 29168; and
provided, further, that nothing contained in the Revenue Bond Law of
1941 shall be deemed to restrict the power of the district to levy
taxes and use their proceeds for all district purposes within the
restrictions established by this part.

29241. 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 rapid transit facilities and any and all parts thereof
and all additions, extensions and improvements thereto and all other
facilities authorized to be acquired, constructed or completed by the
district under this part. The district may issue revenue bonds under
such law for any one or more facilities or enterprises authorized to
be acquired, constructed or completed by the district, or in the
alternative, may issue revenue bonds under such law for the
acquisition, construction and completion of any one of such
facilities and also issue bonds payable from assessments in
accordance with the procedure provided by this part for any other of
such facilities. Nothing in this part contained shall prevent the
district from availing itself of, or making use of, any procedure
provided hereunder for the issuance of bonds of any type or character
for any of the facilities or works authorized hereunder, and all
such proceedings may be carried on simultaneously or, in the
alternative, as the directors may determine.