Title PUC, California Pub. Util. Code

Every two years the board may, and upon petition of 15 percent of the electors of the district shall, employ a qualified expert who shall with all due diligence examine and report upon the following: (a) The system of accounts kept by the district. (b) All the contracts made and …

The expense of employing an expert shall not exceed fifteen thousand dollars ($15,000) at any one time, to be paid out of the income and revenues of the district, as the board prescribes. (Amended by Stats. 1983, Ch. 83, Sec. 2.)

Experts shall be selected by the Public Utilities Commission, and their names and addresses certified to the board of directors of the district. Several experts may be so selected and certified. (Added by Stats. 1953, Ch. 72.)

Whenever an expert is to be employed pursuant to Section 16606, at least four months before each biennial district election the board shall request in writing the Public Utilities Commission to select and certify experts. The commission shall transmit the names of experts to the …

Within 10 days after receipt of a certification the board shall by resolution entered on its minutes employ the expert, or one of the experts selected and certified, fix the amount of his compensation either absolutely or on a per diem basis, and notify the expert of his appointm…

In his report the expert shall make such recommendations and suggestions as to him seem proper and required for the good of the district, the efficient and economical or advantageous management and operation of the public utility of the district, and the business and affairs of t…

In his report the expert shall make such recommendations and suggestions as to: (a) The system of accounts kept, or in his judgment to be kept in connection with each public utility. (b) The classification of the public utilities of the district and the establishment of a system …

The expert shall enter upon his duties at least 90 days before the next impending biennial district election, and shall complete his examination and file his report at least 30 days before the election. (Added by Stats. 1953, Ch. 72.)

The expert’s report shall be made in duplicate to the electors of the district. One copy shall be filed with the board in the office of the clerk of the district, and one copy shall be recorded in the office of the county recorder of the county in which the district, or the great…

(a) As used in this section, “special law water district” means the Santa Clara Valley Water District and the Yuba-Bear River Basin Authority and, if created by an uncodified special law, any of the following: a county flood control district, a county flood control and water dist…

This article is not applicable in a county where the transit district has been provided bonding authority by statute. (Added by Stats. 1971, Ch. 1400.)

If the transportation planning agency determines that the cost of an approved claim for capital expenditures for public transportation purposes, excluding highways, within a county is, together with all other approved claims to be paid from the local transportation fund of such c…

For purposes of this article, “limited obligation bonds” are bonds payable solely from the local transportation fund of the county. The money, or portion thereof, designated by the transportation planning agency in such fund to pay interest and redemption charges shall hereafter …

In determining the amount of bonds to be issued, the transportation planning agency may include: (a) All costs and estimated costs incidental to or connected with the acquisition, construction, improving or financing of the improvements. (b) All engineering, inspection, legal and…

The bonds and the resolution providing for their issuance shall state that they are limited obligation bonds payable solely from the revenues. (Added by Stats. 1971, Ch. 1400.)

The term of bonds issued shall not exceed 31 years. (Added by Stats. 1971, Ch. 1400.)

The bonds shall be sold as the transportation planning agency shall determine but for not less than a price which will produce a net interest cost that will not exceed an average of 7 percent a year as determined by standard tables of bond values. (Added by Stats. 1971, Ch. 1400.…

The bonds are special obligations of the county and shall be a charge against and are secured by a lien upon and shall be payable, as to the principal thereof and interest thereon, and any premiums upon the redemption thereof, solely from the revenues and such funds as are descri…

By resolution, the board of supervisors shall pledge, place a charge upon, and assign all or any part of the revenues for the security of the bonds. (Added by Stats. 1971, Ch. 1400.)

The payment of interest on and principal of the bonds and any premiums upon the redemption of any thereof are secured by an exclusive pledge, charge, and lien upon all or the designated portion of the revenues. (Added by Stats. 1971, Ch. 1400.)

The revenues and any interest earned on the revenues constitute a trust fund for the security and payment of the interest on and principal of the bonds. (Added by Stats. 1971, Ch. 1400.)

So long as any bonds or interest thereon are unpaid following their maturity, the revenues or the designated portion and interest thereon shall not be used for any other purpose. (Added by Stats. 1971, Ch. 1400.)

If the interest and principal of the bonds and all charges to protect or secure them are paid when due, an amount or amounts for other purposes may be apportioned from the revenues or the designated portion thereof. (Added by Stats. 1971, Ch. 1400.)

Bonds of the same issue shall be equally secured by a pledge, charge, and lien upon the revenues specified in the resolution authorizing the issuance of the bonds, without priority for number, or date of bonds, of sale, of execution, or of delivery pursuant to this chapter and th…

The general fund or any other fund of the county shall not be liable for the payment of the bonds or their interest. (Added by Stats. 1971, Ch. 1400.)

The general credit or taxing power of the county, other than the sales and use tax as herein provided, shall not be liable for the payment of the bonds or their interest. (Added by Stats. 1971, Ch. 1400.)

The holder of the bonds or coupons shall not compel the exercise of the taxing power by the county, other than the sales and use tax as herein provided, or the forfeiture of its property. (Added by Stats. 1971, Ch. 1400.)

The principal of and interest on the bonds and any premiums upon the redemption of any thereof are not a debt of the county, nor a legal or equitable pledge, charge, lien, or encumbrance upon any of its property, or upon any of its income, receipts, or revenues, except the revenu…

Every bond shall recite in substance that the principal of and interest on the bond are payable solely from the revenues pledged to its payment and that the county is not obligated to pay it, except from the revenues. (Added by Stats. 1971, Ch. 1400.)

The bonds and interest or income from the bonds are exempt from taxation in this state, except from gift, inheritance, and estate taxes. (Added by Stats. 1971, Ch. 1400.)

In the resolution authorizing the bonds, the board of supervisors may, with the consent of the transportation planning agency, insert any of the provisions authorized by this article, which shall become a part of the contract with the bondholders. (Added by Stats. 1971, Ch. 1400.…

The transportation planning agency may provide for limitations on: (a) The purpose to which the proceeds of sale of any issue of bonds may be applied. (b) The issuance of additional bonds for the same purpose and the lien of additional bonds. (Added by Stats. 1971, Ch. 1400.)

The transportation planning agency may provide for events of default and terms upon which the bonds may be declared due before maturity and the terms upon which the declaration and its consequences may be waived. (Added by Stats. 1971, Ch. 1400.)

The transportation planning agency may provide for the rights, liabilities, powers, and duties arising upon the county’s breach of any covenants, conditions, or obligations. (Added by Stats. 1971, Ch. 1400.)

The transportation planning agency may provide for the vesting in a trustee of the right to enforce covenants to secure payment of or in relation to the bonds, and the trustee’s powers and duties and the limitation of his liabilities. (Added by Stats. 1971, Ch. 1400.)

The transportation planning agency may provide for the terms upon which the bondholders or any percentage of them may enforce covenants or duties imposed by this article. (Added by Stats. 1971, Ch. 1400.)

The transportation planning agency may require the board of supervisors to provide in the resolution for a procedure for amending or abrogating the terms of the resolution with the consent of the holders of a specified number of the bonds. (Added by Stats. 1971, Ch. 1400.)

Any resolution containing such a procedure may also provide for meetings of bondholders or for their written assent without a meeting and the manner of consenting, with or without a meeting. (Added by Stats. 1971, Ch. 1400.)

The resolution shall specifically state the effect of amendment upon the rights of the holders of all of the bonds and attached or detached interest coupons and shall be binding upon the holders of all of the bonds and coupons issued pursuant to the resolution. (Added by Stats. 1…

The transportation planning agency may provide for any other acts and things necessary, convenient or desirable to secure the bonds or tending to make them more marketable. (Added by Stats. 1971, Ch. 1400.)

The county shall pay or cause to be paid the principal and interest of the bonds on the date, at the place, and in the manner mentioned in the bonds and coupons and in accordance with the resolution authorizing their issuance. (Added by Stats. 1971, Ch. 1400.)

During the period that any of the bonds and the interest thereon are unpaid, the county shall prescribe, revise and collect taxes in the manner provided by Part 1.5 (commencing with Section 7200) of Division 2 of the Revenue and Taxation Code. (Added by Stats. 1971, Ch. 1400.)

After making allowances for contingencies and error in the estimates, the taxes, for the respective purposes hereinafter set forth, shall be at least sufficient to pay the following amounts in the order set forth: (a) The interest on and principal of the bonds as they become due …

A separate, distinct and special account shall be created at or before the issuance of the bonds, which shall be maintained continuously in the local transportation fund during the time that any of the bonds or the interest thereon are outstanding and unpaid. (Added by Stats. 197…

All designated revenues shall be deposited in the special account and payments shall be made therefrom as provided in Section 99351. (Added by Stats. 1971, Ch. 1400.)

The county shall preserve and protect the security of the bonds and the rights of the bondholders and warrant and defend their rights against all claims and demands of all persons. (Added by Stats. 1971, Ch. 1400.)