ARTICLE 4. Revenue Bonds

Article 4 added by Stats. 1974, Ch. 1373.

§§ 67550–67591 · 42 sections

§ 67550 The commission may issue bonds for the acquisition, construction, reconstruction, completion, addition, betterment, improvement, extension, or repair of the…
§ 67551 The validity of the authorization and issuance of any bonds by the commission is not dependent on or affected in any way, except to the extent provided in the…
§ 67552 The commission shall issue bonds in its name. These bonds shall constitute obligations of the commission only, and neither the payment of the principal of any…
§ 67553 The commission shall determine the time, form, and manner of the issuance of bonds. The bonds shall be payable only out of specified revenues as the commission…
§ 67554 The commission may enter into indentures providing for the principal amount, date or dates, maturities, interest rate, denominations, form, registration,…
§ 67555 An indenture may include such covenants and agreements on the part of the commission as the commission deems necessary or advisable for the issue, payment,…
§ 67556 An indenture may include a clause requiring the commission to pay, or cause to be paid, punctually the principal of all such bonds and the interest thereon on…
§ 67557 An indenture may include a clause requiring the department to continuously operate the regional transit terminal and other facilities in an efficient and…
§ 67558 An indenture may include a clause requiring the department to make all necessary repairs, renewals, and replacements to the regional transit terminal and to…
§ 67559 An indenture may include a clause requiring the commission to preserve and protect the security of the bonds and the rights of the holders thereof and to…
§ 67560 An indenture may include a clause requiring the commission to pay and discharge, or cause to be paid and discharged, all lawful claims for labor, materials,…
§ 67561 An indenture may include a clause which limits, restricts, or prohibits any right, power, or privilege of the commission to mortgage or otherwise encumber,…
§ 67562 An indenture may include a clause requiring the commission to fix, prescribe, and collect rates, rents, fees, or other charges in connection with the regional…
§ 67563 An indenture may include a clause requiring the commission to hold in trust the proceeds of the bonds and the revenues pledged to the payment of such bonds and…
§ 67564 An indenture may include a clause limiting the power of the commission to apply the proceeds of the sale of any issue of bonds except as provided in the…
§ 67565 An indenture may include a clause limiting the power of the commission to issue additional bonds except upon such terms and conditions as are set forth in the…
§ 67566 An indenture may include a clause requiring, specifying, or limiting the kind, amount, and character of insurance to be maintained by the department on the…
§ 67567 An indenture may include a clause providing the events of default and the terms and conditions upon which such default and its consequences may be waived. An…
§ 67568 An indenture may include a clause prescribing a procedure by which the terms and conditions of the indenture may be subsequently amended or modified with the…
§ 67569 An indenture may include a clause providing for such other acts and matters as may be necessary or convenient or desirable in order to secure the bonds or to…
§ 67570 The commission may designate a bank or trust company, qualified to do business in this state, as a trustee for the commission and the holders of bonds issued…
§ 67571 The commission shall fix and determine, in an indenture, the conditions upon which any indenture trustee shall receive, hold, or disburse any or all revenues…
§ 67572 The commission may issue bonds in series and may divide any series into one or more divisions and fix different maturities or dates of such bonds, different…
§ 67573 Bonds may be issued as coupon bonds or as registered bonds. The commission may provide for the interchange of coupon bonds for registered bonds and registered…
§ 67574 Bonds shall bear interest at a rate of not to exceed 7 percent per annum, payable annually or semiannually, or in part annually and in part semiannually.
§ 67575 Bonds may be callable upon such terms and conditions and upon such notice as the commission may determine, and upon the payment of the premium fixed by the…
§ 67576 The commission may provide for the payment of the principal and interest of bonds at any place or places within or without the State of California, and in any…
§ 67577 The commission may provide for the execution and authentication of bonds by the manual, lithographed, or printed facsimile signature of officers of the…
§ 67578 Bonds shall bear dates prescribed by the commission. Bonds may be serial bonds or sinking fund bonds with such maturities as the commission may determine. No…
§ 67579 The commission may fix terms and conditions for the sale or other disposition of any authorized issue of bonds. The commission may sell bonds at less than…
§ 67580 The commission may provide, in the proceedings for the issuance of bonds, that the bonds and the interest thereon constitute such lien upon the revenues of the…
§ 67581 Interest on bonds may be paid out of the proceeds of the sale of the bonds during the period required for construction of the regional transit terminal or any…
§ 67582 Pending the actual issuance or delivery of definitive bonds, the commission may issue temporary or interim bonds, certificates or receipts of any denominations…
§ 67583 All bonds, and the interest thereon, are exempt from all taxation by the State of California or any public corporation other than gift, inheritance and…
§ 67584 The commission may provide for the issuance, sale, or exchange of refunding bonds for the purpose of redeeming or retiring any bonds issued by the commission.…
§ 67585 Refunding bonds may be issued in a principal amount sufficient to provide funds for the payment of all bonds to be refunded thereby, and in addition for the…
§ 67586 All bonds issued under the provisions of this chapter are negotiable instruments, except when registered in the name of a registered owner.
§ 67587 The commission may apply to the State Treasurer under the Districts Securities Law (Division 10 (commencing with Section 20000) of the Water Code), as such law…
§ 67588 Prior to the issuance of any bonds, the commission may commence in the Superior Court of the State of California, in and for the City and County of San…
§ 67589 No indenture need be recorded or filed in any public office, other than the office of the commission. The pledge of revenues provided in any indenture shall…
§ 67590 Subject to any applicable provisions which may be contained in an indenture, the commission may invest any available funds in bonds issued by it and may hold,…
§ 67591 While any bonds issued by the commission remain outstanding and unpaid, the power of the department to establish, levy, and collect rents, fees, and other…