CHAPTER 17. Passenger Rail and Clean Air Bond Act of 1990 [2701. - 2701.24.]
Chapter 17 added by Stats. 1989, Ch. 108, Sec. 2.
§§ 2701–2701.24 · 22 sections
ARTICLE 1. General Provisions §§ 2701–2701.02 · 3 sections
- § 2701 This chapter shall be known and may be cited as the Passenger Rail and Clean Air Bond Act of 1990.
- § 2701.01 As used in this chapter, the following terms have the following meanings: (a) “Committee” means the Passenger Rail Finance Committee created pursuant to…
- § 2701.02 The Legislature has provided that, in addition to the one billion dollars ($1,000,000,000) authorized pursuant to this chapter, the Passenger Rail and Clean…
ARTICLE 2. Transportation Improvement Program §§ 2701.05–2701.08 · 4 sections
- § 2701.05 The proceeds of bonds issued and sold pursuant to this chapter shall be deposited in the Passenger Rail Bond Fund, which is hereby created.
- § 2701.06 The money in the fund, upon appropriation by the Legislature, shall be available, without regard to fiscal years, for acquisition of rights-of-way, capital…
- § 2701.07 The appropriations for capital improvements and acquisition of rolling stock for intercity rail, commuter rail, and urban rail transit shall be used only on…
- § 2701.08 At least 15 percent of the money in the fund shall be used for intercity rail purposes and shall be equitably expended on intercity rail corridors based on the…
ARTICLE 3. Fiscal Provisions §§ 2701.10–2701.24 · 15 sections
- § 2701.10 Bonds in the total amount of one billion dollars ($1,000,000,000), exclusive of refunding bonds, or so much thereof as is necessary, may be issued and sold to…
- § 2701.11 (a) Except as provided in subdivision (b), the bonds authorized by this chapter shall be prepared, executed, issued, sold, paid, and redeemed as provided in…
- § 2701.12 (a) Solely for the purpose of authorizing the issuance and sale, pursuant to the State General Obligation Bond Law, of the bonds authorized by this chapter,…
- § 2701.13 The committee shall determine whether or not it is necessary or desirable to issue bonds authorized pursuant to this chapter in order to carry out the actions…
- § 2701.14 There shall be collected each year and in the same manner and at the same time as other state revenue is collected, in addition to the ordinary revenues of the…
- § 2701.15 Notwithstanding Section 13340 of the Government Code, there is hereby appropriated from the General Fund in the State Treasury, for the purposes of this…
- § 2701.16 (a) Money may be transferred from the fund to the State Transportation Fund to reimburse the Transportation Planning and Development Account and the State…
- § 2701.17 The board may request the Pooled Money Investment Board to make a loan from the Pooled Money Investment Account, in accordance with Section 16312 of the…
- § 2701.18 For the purpose of carrying out this chapter, the Director of Finance may authorize the withdrawal from the General Fund of an amount or amounts not to exceed…
- § 2701.19 All money deposited in the fund which is derived from premium and accrued interest on bonds sold shall be reserved in the fund and shall be available for…
- § 2701.20 The bonds may be refunded in accordance with Article 6 (commencing with Section 16780) of the State General Obligation Bond Law.
- § 2701.21 The Legislature hereby finds and declares that, inasmuch as the proceeds from the sale of bonds authorized by this chapter are not “proceeds of taxes” as that…
- § 2701.22 Notwithstanding any provision of the State General Obligation Bond Law with regard to the proceeds from the sale of bonds authorized by this chapter that are…
- § 2701.23 (a) The department may advance funds in the State Highway Account in the State Transportation Fund for all or a portion of the cost of projects approved for…
- § 2701.24 Notwithstanding Section 2701.22 or any other provision of this bond act, or of the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720)…