Section 240311.
240311. (a) A resolution authorizing the issuance of bonds shall state all of the following: (1) The purposes for which the proposed debt is to be incurred, which may include all costs and estimated costs incidental to, or connected with, the accomplishment of those purposes, including, without limitation, engineering, inspection, legal, fiscal agents, financial consultant and other […]
Section 240312.
240312. The bonds shall bear interest at a rate or rates not exceeding the maximum allowable by law, payable at intervals determined by the commission, except that the first interest payable on the bonds, or any series thereof, may be for any period not exceeding one year, as determined by the commission. (Added by Stats. […]
Section 240313.
240313. In the resolution authorizing the issuance of the bonds, the commission may also provide for the call and redemption of the bonds prior to maturity at the times and prices and upon other terms as specified. However, no bond is subject to call or redemption prior to maturity, unless it contains a recital to […]
Section 240314.
240314. The principal of, and interest on, the bonds shall be payable in lawful money of the United States at the office of the treasurer of the commission, or at other places as may be designated, or at both the office and other places at the option of the holders of the bonds. (Added by […]
Section 240315.
240315. The bonds, or each series thereof, shall be dated and numbered consecutively and shall be signed by the chairperson or vice chairperson of the commission and the auditor-controller of the commission, and the official seal, if any, of the commission shall be attached. The interest coupons of the bonds shall be signed by the […]
Section 240300.
240300. The Legislature, by the enactment of this chapter, intends the additional funds provided government agencies by this chapter to supplement existing local revenues being used for transportation purposes. The government agencies shall maintain their existing commitment of local funds for street, highway, and public transit purposes pursuant to an ordinance adopted by the commission […]
Section 240301.
240301. The commission may levy a retail transactions and use tax applicable in the incorporated and unincorporated territory of the county in accordance with this chapter and Part 1.6 (commencing with Section 7251) of Division 2 of the Revenue and Taxation Code. The ordinance shall only become effective if adopted by a two-thirds vote of […]
Section 240302.
240302. (a) The commission, in the ordinance, shall state the nature of the tax to be imposed, the tax rate or the maximum tax rate, the purposes for which the revenue derived from the tax will be used, and shall set a term during which the tax will be imposed. (b) The purposes for which the tax […]
Section 240303.
240303. (a) The county shall conduct an election called by the board of supervisors pursuant to Section 240301. (b) The election shall be called and conducted in the same manner as provided by law for the conduct of elections by a county. (Added by Stats. 1987, Ch. 270, Sec. 2. Effective July 28, 1987.)
Section 240304.
240304. (a) Any transactions and use tax ordinance adopted pursuant to this chapter shall be operative on the first day of the first calendar quarter commencing more than 120 days after adoption of the ordinance. (b) Prior to the operative date of the ordinance, the commission shall contract with the State Board of Equalization to perform all […]