CHAPTER 7. Bonds and Other Evidences of Indebtedness [100400. - 100492.]
Chapter 7 added by Stats. 1974, Ch. 1204.
§§ 100400–100492 · 27 sections
ARTICLE 1. Authorization and Issuance of General Obligation Bonds §§ 100400–100413 · 14 sections
- § 100400 Whenever the board deems it necessary for the VTA to incur a bonded indebtedness for the acquisition, construction, or repair of any or all improvements,…
- § 100401 Notice of holding of the election shall be given by publishing, pursuant to Section 6066 of the Government Code, the ordinance calling the election in at least…
- § 100402 If any proposition is defeated by the electors, the board shall not call another election on a substantially similar proposition to be held within six months…
- § 100403 If a majority of the electors voting on the proposition vote for it, then the board may, by resolution, at a time or times as it deems proper, issue bonds of…
- § 100404 The bonds shall bear interest at a rate or rates not exceeding 7 percent per annum, payable semiannually, except that the first interest payable on the bonds…
- § 100405 The bonds may be sold as the board determines by resolution but for not less than par. Before selling the bonds, or any part thereof, the board shall give…
- § 100406 Delivery of any bonds may be made at any place either inside or outside the state, and the purchase price may be received in cash or bank credits.
- § 100407 All accrued interest and premiums received on the sale of bonds shall be placed in the fund to be used for the payment of principal of and interest on the…
- § 100408 After the expiration of three years after a bond election the board may determine, by ordinance adopted by a vote of two-thirds of all the members of the…
- § 100409 Whenever the board deems that the expenditure of money for the purposes for which the bonds were authorized by the voters is impractical or unwise, it may, by…
- § 100410 The board may provide for the issuance, sale, or exchange of refunding bonds to redeem or retire any bonds issued by the VTA upon the terms, at the times, and…
- § 100411 The provisions of Article 4 (commencing with Section 53500) of Chapter 3 of Part 1 of Division 2 of Title 5 of the Government Code are applicable to the VTA.
- § 100412 Any bonds which shall be issued under the provisions of this article shall be legal investment for all trust funds; for the funds of insurance companies,…
- § 100413 If bonds are authorized that contain a provision for special taxes under subdivision (i) of Section 100400, the board may enter into such convenants as may be…
ARTICLE 2. Revenue Bonds §§ 100450–100451 · 2 sections
- § 100450 The VTA may issue bonds, payable from revenue of any facility or enterprise to be acquired or constructed by the VTA, in the manner provided by the Revenue…
- § 100451 The VTA is a local agency within the meaning of the Revenue Bond Law of 1941 (Chapter 6 (commencing with Section 54300) of Part 1 of Division 2 of Title 5 of…
ARTICLE 3. Equipment Trust Certificates §§ 100460–100463 · 4 sections
- § 100460 The VTA shall have power to purchase transit equipment such as cars, trolley buses, and motor buses, or rolling equipment; and may execute agreements, leases,…
- § 100461 The agreement to purchase or lease may direct the vendor or lessor to sell and assign or lease the rolling equipment to a bank or trust company duly authorized…
- § 100462 The agreements and leases shall be duly acknowledged before a person authorized by law to take acknowledgments of deeds and in the form required for…
- § 100463 The covenants, conditions, and provisions of the agreements, leases, and equipment trust certificates shall not conflict with any of the provisions of any…
ARTICLE 4. Improvement Acts and Special Benefit Districts §§ 100470–100471 · 2 sections
ARTICLE 5. Temporary Borrowing §§ 100482–100483 · 2 sections
- § 100482 The VTA may borrow money in accordance with the provisions of Article 7 (commencing with Section 53820), or of Article 7.6 (commencing with Section 53850) of…
- § 100483 The VTA may borrow money in anticipation of the sale of bonds that have been authorized to be issued, but have not been sold and delivered, and may issue…
ARTICLE 6. Miscellaneous §§ 100490–100492 · 3 sections
- § 100490 The VTA may bring an action to determine the validity of any of its bonds, equipment trust certificates, warrants, notes, or other evidences of indebtedness…
- § 100491 All bonds and other evidences of indebtedness issued by the VTA under the provisions of this part, and the interest thereon, are free and exempt from all…
- § 100492 Notwithstanding any other provisions of this part or any other law, the provisions of all ordinances, resolutions, and other proceedings in the issuance by the…