Section 64129.
64129. Any net earnings of the authority beyond that necessary for retirement of any obligations issued by the authority or to implement the purposes of this division may inure to the benefit only of the state or the authority. (Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
Section 64130.
64130. Upon dissolution of the authority, title to all property owned by the authority shall vest in the successor authority created by the Legislature, if any, if the successor authority qualifies under Section 103 of the federal Internal Revenue Code of 1954, as amended, and the regulations promulgated thereunder, as an authority entitled to issue […]
Section 64131.
64131. Nothing in this division is intended to limit the authority to develop and finance high-occupancy toll lanes pursuant to Section 149.4, 149.5, 149.6, or 149.7 of the Streets and Highways Code, or to limit the ability of any agency that has existing authority to issue bonds. (Added by Stats. 2009, Ch. 474, Sec. 1. […]
Section 64132.
64132. (a) The California Transportation Financing Authority Fund is hereby created and continued in existence in the State Treasury, to be administered by the authority. Notwithstanding Section 13340 of the Government Code, all moneys in the funds shall be continuously appropriated without regard to fiscal year for the purposes of this division. The authority may pledge […]
Section 64123.
64123. The State of California does pledge to and agree with the holders of the bonds issued pursuant to this division, and with those parties who may enter into contracts with the authority or a project sponsor pursuant to this division, that the state will not limit, alter, or restrict the rights hereby vested in […]
Section 64124.
64124. A pledge by or to the issuer of revenues, moneys, accounts, accounts receivable, contract rights, and other rights to payment of whatever kind made by or to the issuer pursuant to the authority granted in this division shall be valid and binding from the time the pledge is made for the benefit of pledges […]
Section 64109.
64109. (a) To the extent permitted by law, in connection with any project financed or refinanced pursuant to this division, the project sponsor may pledge the following revenue sources as security for revenue bonds issued under this division: (1) Local transportation funds, including, but not limited to, fuel taxes, Article XIX B fuel sales taxes, local transportation sales […]
Section 64125.
64125. Each lease agreement, note, mortgage, or other instrument evidencing the obligations of a project sponsor shall provide that the rents or principal, interest, and other charges payable by the project sponsor shall be sufficient at all times, (a) to pay the principal of, sinking fund payments, if any, the premium, if any, and the […]
Section 64110.
64110. (a) A project sponsor may apply to the authority for bond issuance by the authority or project sponsor for a transportation project that has been approved by the department and the commission for construction. (b) The authority shall also ensure that the following requirements are met for a project to be financed or refinanced under this […]
Section 64126.
64126. When the principal of and interest on bonds issued by the authority to finance the cost of a project or working capital or to refinance outstanding indebtedness of one or more project sponsors, including any refunding bonds issued to refund and refinance those bonds, have been fully paid and retired or when adequate provision […]