{"code":"GOV","codeName":"Government Code","section":"14064","citation":"Gov. Code, § 14064","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA [8000. - 22980.]","url":"https://blackletter.si/government-code/title-2"},{"name":"DIVISION 3. EXECUTIVE DEPARTMENT [11000. - 15990.3.]","url":"https://blackletter.si/government-code/title-2/division-3"},{"name":"PART 5. DEPARTMENT OF TRANSPORTATION [14000. - 14463.]","url":"https://blackletter.si/government-code/title-2/division-3/part-5"},{"name":"CHAPTER 1. General [14000. - 14089.]","url":"https://blackletter.si/government-code/title-2/division-3/part-5/chapter-1"},{"name":"ARTICLE 4. Purchase, Sale, and Leasing of Passenger Transportation Vehicles [14060. - 14066.]","url":"https://blackletter.si/government-code/title-2/division-3/part-5/chapter-1/article-4"}],"history":"Added by Stats. 1984, Ch. 1510, Sec. 1.   Effective September 28, 1984.","effective":"1984-09-28","html":"<p>(a) Equipment obligations shall be sold by the Treasurer, after a resolution requesting the sale has been adopted by the commission. Equipment obligations may be sold by public bid or by a private negotiated sale. The Treasurer may sell equipment obligations at a discount not to exceed 5 percent of the par value thereof.</p><p>(b) Equipment obligations, and the interest thereon, are exempt from taxation in this state, except for gift taxes.</p>","text":"(a) Equipment obligations shall be sold by the Treasurer, after a resolution requesting the sale has been adopted by the commission. Equipment obligations may be sold by public bid or by a private negotiated sale. The Treasurer may sell equipment obligations at a discount not to exceed 5 percent of the par value thereof. (b) Equipment obligations, and the interest thereon, are exempt from taxation in this state, except for gift taxes.","otherVersions":[],"url":"https://blackletter.si/government-code/purchase-sale-and-leasing-of-passenger-transportation-14064","source":"California Legislative Information bulk export (pubinfo)"}