CHAPTER 4. Transactions and Use Tax [240300. - 240323.]

Chapter 4 added by Stats. 1987, Ch. 270, Sec. 2.

§§ 240300–240323 · 24 sections

• § 240300 The Legislature, by the enactment of this chapter, intends the additional funds provided government agencies by this chapter to supplement existing local…
• § 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…
• § 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…
• § 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…
• § 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…
• § 240305 The revenues from the taxes imposed pursuant to this chapter shall be allocated by the commission for transportation purposes consistent with the adopted…
• § 240306 (a) The commission, subject to the approval of the voters, may impose a maximum tax rate of 1.5 percent under this division and the Transactions and Use Tax…
• § 240307 Any increase or reduction in the tax rate adopted pursuant to Section 240306 or 240307 shall become effective on the first day of the calendar quarter which…
• § 240308 (a) If requested to do so by the commission in its resolution calling for an election, the board of supervisors, as part of the ballot proposition to approve…
• § 240309 (a) The bonds authorized by the voters concurrently with the approval of the retail transactions and use tax may be issued at any time by the commission and…
• § 240310 Limited tax bonds shall be issued pursuant to a resolution adopted at any time by a two-thirds vote of the commission. Each resolution shall provide for the…
• § 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…
• § 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…
• § 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…
• § 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…
• § 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…
• § 240316 The bonds may be sold as the commission determines by resolution, and the bonds may be sold at a price below par, whether by negotiated or public sale.
• § 240317 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.
• § 240318 All accrued interest and premiums received on the sale of the bonds shall be placed in the fund to be used for the payment of the principal of, and interest…
• § 240319 (a) The commission may provide for the issuance, sale, or exchange of refunding bonds to redeem or retire any bonds issued by the commission upon the terms, at…
• § 240320 (a) The commission may borrow money in anticipation of the sale of bonds which have been authorized pursuant to this chapter, but which have not been sold or…
• § 240321 Any bonds issued under this chapter are legal investment for all trust funds; for the funds of insurance companies, commercial and savings banks, and trust…
• § 240322 Any action or proceeding wherein the validity of the adoption of the retail transactions and use tax ordinance provided for in this chapter or the issuance of…
• § 240323 The commission has no power to impose any tax other than the transactions and use tax imposed upon approval of the voters in accordance with this division.