ARTICLE 2. Equipment Trust Certificates [120650. - 120654.]

Article 2 added by Stats. 1983, Ch. 599, Sec. 2.

§§ 120650–120654 · 5 sections

• § 120650 The board may purchase transit equipment such as cars, trolley buses, motorbuses, light rail vehicles, or rolling equipment, and may execute agreements,…
• § 120651 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…
• § 120652 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…
• § 120653 The covenants, conditions, and provisions of the agreements, leases, and equipment trust certificates shall not conflict with any of the provisions of any…
• § 120654 An executed copy of each agreement and lease shall be filed in the office of the Secretary of State, who shall be entitled to receive one dollar ($1) for each…