SECTIONS 40300-40310 - California Statutes

PUBLIC UTILITIES CODE

SECTION 40300-40310

40300. The district may levy and collect, or cause to be collected,
taxes for any lawful purpose subject to a maximum limit of five
cents ($0.05) per one hundred dollars ($100) of assessed valuation
within the district exclusive of any tax levied to meet the bonded
indebtedness of the district and the interest thereon.

40301. If, in the opinion of the board, the transit operation
revenues will not be sufficient for any and all lawful purposes, the
board shall levy a tax for such purpose or purposes and fix the
amount of money necessary to be raised therefor by taxation.

40302. The board shall, as part of the general tax levy as set
forth in Section 40300 levy and collect annually until the district's
bonds are paid, or until there is a sum in the treasury of the
district set apart for that purpose to meet all sums coming due for
principal and interest on the bonds as they become due, a tax
sufficient to pay the annual interest on the bonds, and such part of
the principal thereof, as becomes due before the proceeds of a tax
levied at the next general tax levy will be available. If the
maturity of the indebtedness created by the issue of bonds begins
more than one year after the date of the issuance thereof, the tax
shall be levied and collected annually at the time and in the manner
stated above, in an amount sufficient to pay the interest on the
indebtedness as it falls due and to constitute a sinking fund for the
payment of the principal on or before maturity.

40303. The board may provide for the assessment, levy, and
collection of taxes by the district, including the sale of property
to the district for delinquent taxes, with penalties, interest, and
cost.

40304. The board shall avail itself of the assessments made by the
assessor of the county and of the assessments made by the State Board
of Equalization for the county, and shall take such assessments as
the basis for district taxation and have its taxes collected by the
tax collector of the county.

40305. In such case, the county auditor shall, on or before the
third Monday in August of each year, transmit to the board a
statement, in writing, showing the total value of all property within
the district, ascertained from the assessments referred to in
Section 40304 as equalized.

40306. The board shall, on or before the first day of September,
fix the rate of taxes, designating the number of cents upon each one
hundred dollars ($100) using as a basis the value of property
transmitted to the board by the county auditor, which rate of
taxation shall be sufficient to raise the amount previously fixed by
the board. These acts by the board shall constitute a valid
assessment of the property and a valid levy of the taxes so fixed,
but the rate of taxation shall not exceed the limit imposed by this
article.

40307. The board shall immediately, after fixing the rate of taxes
as provided in Section 40306, transmit to the county auditor of the
county a statement of the rate of taxes fixed by the board.

40308. The district's taxes so levied shall be collected at the
same time and in the same manner as county taxes. When collected, the
net amount, ascertained as provided in this article, shall be paid
to the treasurer of the district under the general requirements and
penalties provided by law for the settlement of other taxes.

40309. Whenever any real property has been sold for taxes and has
been redeemed, the money paid for redemption shall be apportioned and
paid to the district by the county treasurer in the proportion which
the tax due to the district bears to the total tax for which the
property was sold.

40310. All taxes levied under this article are a lien on the
property on which they are levied. The enforcement of the collection
of such taxes shall be in the same manner and by the same means
provided by law for the enforcement of liens for county taxes, all
the provisions of law relating to the enforcement of the latter being
made a part of this article so far as applicable.