DIVISION 3. CALIFORNIA TRANSPORTATION FINANCING AUTHORITY

Division 3 added by Stats. 2009, Ch. 474, Sec. 1.

§§ 64100–64132 · 34 sections

§ 64100 This division shall be known and may be cited as the California Transportation Financing Authority Act.
§ 64101 The California Transportation Financing Authority is hereby created in state government. The authority constitutes a public instrumentality, and the exercise…
§ 64102 As used in this division, the following terms shall have the following meanings, unless the context clearly indicates or requires another or different meaning…
§ 64103 (a) The authority shall consist of seven members, as follows: (1) The Treasurer, who shall serve as the chair of the authority. (2) The Director of Finance.…
§ 64104 The provisions of this division shall be administered by the authority, which shall have and is hereby vested with all powers reasonably necessary to carry out…
§ 64105 The objective of the authority shall be to increase the construction of new capacity or improvements for the state transportation system in a manner that is…
§ 64106 (a) The Attorney General shall be the legal counsel for the authority, however, with the approval of the Attorney General, the authority may employ legal…
§ 64107 The authority may do any of the following: (a) Adopt bylaws for the regulation of its affairs and the conduct of its business. (b) Adopt an official seal. (c)…
§ 64107.5 The authority or issuer may do any of the following: (a) Obtain, or aid in obtaining, from any department or agency of the United States or of the state, any…
§ 64108 All expenses of the authority incurred in carrying out the provisions of this division shall be payable solely from funds provided pursuant to this division,…
§ 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…
§ 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…
§ 64111 (a) Prior to issuing or approving the issuance of bonds for a project, the authority shall determine that the revenues and other moneys available for a project…
§ 64112 Notwithstanding any other law, the authority may authorize a project sponsor, or the department, to impose and collect tolls as one source of revenue to pay…
§ 64113 A project sponsor of a project imposing tolls may incorporate congestion management mechanisms to regulate usage and increase mobility, accessibility, and…
§ 64114 The authority and the commission shall develop an approval process that results in project approval by the commission and financing approval by the authority…
§ 64115 (a) The issuer may, from time to time, issue its negotiable bonds in order to provide funds for achieving any of its purposes under this division. (b) Except…
§ 64116 In the discretion of the authority, any bonds issued under this division may be secured by a trust agreement or indenture by and between the issuer and a…
§ 64117 Bonds issued under this division shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof or a pledge of the…
§ 64118 Any holder of bonds issued under this division or any of the coupons appertaining thereto, and the trustee or trustees under any indenture or trust agreement,…
§ 64119 All moneys received pursuant to this division, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and…
§ 64120 (a) The issuer may provide for the issuance of bonds for the purpose of refunding any bonds or any series or issue of bonds of the issuer then outstanding,…
§ 64121 Bonds issued under this division are hereby made securities in which all banks, bankers, savings banks, trust companies and other persons carrying on a banking…
§ 64122 Any bonds issued under this division, their transfer, and the income therefrom shall at all times be free from taxation of every kind by the state and by all…
§ 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…
§ 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…
§ 64125 Each lease agreement, note, mortgage, or other instrument evidencing the obligations of a project sponsor shall provide that the rents or principal, interest,…
§ 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…
§ 64127 (a) This division shall be deemed to provide a complete, additional, and alternative method for doing the things authorized by this code, and shall be regarded…
§ 64128 To the extent that the provisions of this division are inconsistent with any other provisions of any general statute or special act or parts thereof, the…
§ 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…
§ 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…
§ 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…
§ 64132 (a) The California Transportation Financing Authority Fund is hereby created and continued in existence in the State Treasury, to be administered by the…