CHAPTER 5. El Dorado County Toll Tunnel Authority Act [31100. - 31246.]

Chapter 5 added by Stats. 1968, Ch. 923.

§§ 31100–31246 · 92 sections

1. ARTICLE 1. General Provisions §§ 31100–31105 · 6 sections

   • § 31100 This chapter may be cited as the El Dorado County Toll Tunnel Authority Act.
   • § 31101 Unless the particular provision or the context otherwise requires the general provisions set forth in this article govern the construction of this chapter.
   • § 31102 “Authority” means the El Dorado County Toll Tunnel Authority.
   • § 31103 “Toll tunnel” means the tunnel from U.S. Highway 50 in the vicinity of Twin Bridges to U.S. Highway 50 in the vicinity of Meyers which the authority is…
   • § 31104 “Bond” means any written evidence of indebtedness which the authority may issue pursuant to this chapter in order to secure funds with which to carry out the…
   • § 31105 Nothing in this chapter prevents the state from making appropriations from time to time in aid of the construction pursuant to this chapter of the toll tunnel…
2. ARTICLE 2. Organization of the Authority §§ 31110–31115 · 6 sections

   • § 31110 The El Dorado County Toll Tunnel Authority is hereby created. The authority shall be governed by a board consisting of the members of the Board of Supervisors…
   • § 31111 All of the members of the authority shall serve thereon without compensation, but they shall receive their necessary actual traveling expenses incurred in the…
   • § 31112 A majority of the members of the authority may act for the authority.
   • § 31113 The authority may employ a secretary, a treasurer, an attorney, a chief engineer, and such other persons as are necessary to enable it properly to perform the…
   • § 31114 The authority may sue and be sued in the name of the El Dorado County Toll Tunnel Authority.
   • § 31115 The authority shall select one of its members to serve as chairman of the authority.
3. ARTICLE 3. General Powers and Duties of the Authority §§ 31120–31132 · 13 sections

   • § 31120 The authority may study the feasibility of, plan, design, finance, construct, operate, and maintain a tunnel from U.S. Highway 50 in the vicinity of Twin…
   • § 31121 The authority shall fix the rates of toll and other charges for the toll tunnel.
   • § 31122 The authority in establishing toll charges shall give consideration to the cost of operating and maintaining the toll tunnel, including the cost of insurance,…
   • § 31123 Toll charges so fixed may be changed from time to time as conditions warrant.
   • § 31124 The authority may do such acts and make such agreements not inconsistent with laws as are necessary or desirable in connection with the duties and powers…
   • § 31125 The authority, through such engineers or experts as it may employ, shall design the toll tunnel, and may build it or any portions of it either by its own…
   • § 31126 The authority shall keep full, complete, and separate accounts of the toll tunnel and annually shall prepare balance sheets and income and profit and loss…
   • § 31127 The authority may issue permits for the use of the toll tunnel on a credit basis. The holder of such a permit shall furnish to and maintain in force with the…
   • § 31128 The authority may revoke any permit granted for failure of the holder to comply with its terms.
   • § 31129 The authority may also require the holder of any such permit to pay a fee of not to exceed five dollars ($5) a month to cover printing and other overhead…
   • § 31130 When necessary to facilitate movement of traffic, the authority may limit the use of the toll tunnel on a credit basis to particular classes of vehicles.
   • § 31131 The authority may adopt rules and regulations not inconsistent with the Vehicle Code for the control of traffic in the toll tunnel, to aid and insure the safe…
   • § 31132 The California Highway Patrol shall have the authority and it shall be its duty to provide for proper and adequate policing of the toll tunnel, to insure the…
4. ARTICLE 4. Bonds §§ 31140–31175 · 36 sections

   • § 31140 Whenever the authority determines that it is for the best interests of the public highways in the state that the toll tunnel be constructed and operated by the…
   • § 31141 All bonds authorized pursuant to this chapter shall be issued in the name of the authority and shall constitute obligations of the authority only. Such bonds…
   • § 31142 The authority shall determine the form, conditions, and denominations of all bonds, the dates which the bonds to be sold shall bear, and the interest rate…
   • § 31143 The authority may provide for the retirement of the bonds at any time or times prior to their maturity, in such manner and upon payment of such premiums as may…
   • § 31144 All bonds shall be signed by the treasurer and countersigned by the chairman. The signatures of the treasurer and the chairman may be by facsimile, but said…
   • § 31145 All revenue bonds authorized pursuant to this chapter may be issued and sold by the authority from time to time and in such amounts as the authority deems…
   • § 31146 Bonds authorized pursuant to this chapter may be sold below the par or face value thereof, but the sale price shall not be less than that which will yield the…
   • § 31147 Successive issues of bonds within the limits of the original authorization for the issuance of bonds for the acquisition or construction of the toll tunnel…
   • § 31148 All bonds issued and sold pursuant to this chapter shall be sold on sealed proposals to the highest and best bidder after such advertising for bids as the…
   • § 31149 Temporary or interim bonds, certificates, or receipts, signed by the treasurer, of any denomination whatever and with or without coupons attached thereto, may…
   • § 31150 The purchase price of all bonds issued pursuant to this chapter shall be paid to the treasurer for the account of the authority.
   • § 31151 The authority may include in the proceedings authorizing the issuance of bonds any provisions not inconsistent with this chapter which limit, restrict, or…
   • § 31152 The authority may provide in the proceedings authorizing the issuance of bonds for the setting up of one or more reserve funds out of the proceeds of the bonds…
   • § 31153 The authority may provide in the proceedings authorizing the issuance of bonds, or may otherwise agree with the purchasers of bonds, regarding the deposit of…
   • § 31154 The authority may provide in the proceedings authorizing the issuance of bonds for the carrying of insurance as authorized by this chapter, and the purchase…
   • § 31155 Whenever any bonds are to be issued pursuant to this chapter, the authority, from time to time, upon such terms and conditions in all respects as it approves…
   • § 31156 All benefits conferred or obligations imposed by this chapter or by any other law with respect to making provision for the payment, whether from tolls or other…
   • § 31157 The authority may contract loans and borrow money through the sale of bonds of the same character as those authorized pursuant to this chapter, from the United…
   • § 31158 If a bond issue for the acquisition or construction of the toll tunnel is authorized and sold in whole or in part and the authority deems it advisable and…
   • § 31159 If the outstanding bonds issued for the acquisition or construction of the toll tunnel as originally designed are, at the time of issuance of the additional…
   • § 31160 Out of the proceeds derived from the sale of any such additional bonds there shall be set aside an amount of money sufficient to retire such outstanding bonds…
   • § 31161 All provisions of this chapter apply with like force and effect to the issuance of any bonds of the new authorized issue, and the holders thereof are…
   • § 31162 Whenever bonds of any kind have been issued and are outstanding pursuant to this chapter, the authority may from time to time or at one time issue and sell or…
   • § 31163 Funding or refunding bonds shall not constitute a debt or obligation of the state or of El Dorado County, but shall be bonds of the authority of the same…
   • § 31164 Except as otherwise provided in this article, and except as modified by the express terms of the funding or refunding bonds or the proceedings authorizing…
   • § 31165 Any funding or refunding bonds may be issued in a principal amount sufficient to provide funds for: (a) The payment of the bonds to be funded or refunded…
   • § 31166 All bonds issued pursuant to this chapter are negotiable instruments under the law merchant.
   • § 31167 All bonds issued pursuant to this chapter and the income therefrom are at all times exempt from taxation, except for transfer, inheritance, and estate taxes.
   • § 31168 Bonds issued pursuant to this chapter shall not constitute or be a debt, liability, or obligation of the state or El Dorado County. The payment of both…
   • § 31169 The bond redemption and interest payments constitute a first direct and exclusive charge and lien on all tolls and other revenues, and interest thereon, and…
   • § 31170 While any bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority shall not be diminished or impaired in any manner…
   • § 31171 The holder of any bond may by mandamus or other appropriate proceeding compel the performance of any of the duties imposed upon the authority or its officers,…
   • § 31172 The Commissioner of Financial Institutions may investigate and ascertain the status or sufficiency as investments for savings banks in this state of any such…
   • § 31173 All bonds issued by the authority pursuant to this chapter, and which have been first certified by the Commissioner of Financial Institutions, are legal…
   • § 31174 Any money or funds which may by law be invested in bonds of the state, cities, counties, or school districts in the state may be invested in the bonds issued…
   • § 31175 Whenever any bonds of the state, or of any city, county, or school district in the state, may by law be used as security for the performance of any act or the…
5. ARTICLE 5. Custody and Use of Money §§ 31180–31189 · 10 sections

   • § 31180 The proceeds from the sale of all bonds authorized pursuant to this chapter shall be paid to the treasurer for the credit of the authority and forthwith…
   • § 31181 The proceeds from the sale of the bonds shall be paid out or disbursed solely for the acquisition or construction of the toll tunnel, the acquisition of the…
   • § 31182 All money in the acquisition and construction fund not required to meet current acquisition or construction costs of the toll tunnel, and all funds…
   • § 31183 Any surplus which exists in the acquisition and construction fund shall be applied to the retirement, by purchase or call, of bonds issued for the acquisition…
   • § 31184 All tolls or other revenues received from the operation of the toll tunnel shall be paid over by the department at least monthly to the treasurer who shall…
   • § 31185 From the money deposited in the acquisition and construction fund, the treasurer shall transfer to the place or places of payment named in the bonds such sums…
   • § 31186 The money remaining in the toll revenue fund, after providing the amount required for interest and redemption of bonds, shall be held and applied as provided…
   • § 31187 Money required to meet the costs of acquisition or construction and all expenses and costs incidental to the acquisition or construction of the toll tunnel, or…
   • § 31188 All interest received or earned on money deposited in each and every fund provided for in this article shall be credited to and become a part of the particular…
   • § 31189 Notwithstanding anything contained in this chapter, the proceeds received from the sale of bonds and the tolls or other revenues received from the operation of…
6. ARTICLE 6. Acquisition and Disposition of Property §§ 31200–31210 · 8 sections

   • § 31200 The authority may acquire by gift, purchase, or eminent domain proceedings any franchise, rights, privileges, easements, or other property, either real or…
   • § 31201 In eminent domain proceedings to acquire property for any of the purposes of this chapter, any real property, personal property, franchises, rights, easements,…
   • § 31205 The right-of-way is given, dedicated, and set apart upon which to locate, construct, and maintain the toll tunnel through, over, under, on, or across any…
   • § 31206 If any property belonging to any county, city, public or municipal corporation, district, or political subdivision of the state, is taken for the acquisition…
   • § 31207 In all cases where, by statute or otherwise, any right is reserved or granted to the state or any state agency to construct or maintain highways, bridges, or…
   • § 31208 Whenever any property acquired for any of the purposes of this chapter, whether by agreement, grant, or eminent domain, either in fee or in any lesser estate…
   • § 31209 Whenever, either before or after the construction or reconstruction of streets, sidewalks, or other like facilities upon any property or interest in property…
   • § 31210 Any money received for any such property shall be received into the funds for the toll tunnel for which the property was originally acquired.
7. ARTICLE 7. Insurance of Property §§ 31220–31223 · 4 sections

   • § 31220 When the toll tunnel is being built by the authority, it may carry or cause to be carried such an amount of insurance or indemnity bond as protection against…
   • § 31221 The authority may carry insurance in such amount as it deems proper to cover any accident or destruction in part or in whole to the toll tunnel until all bonds…
   • § 31222 All money collected on any indemnity bond or insurance policy as the result of any damage or injury to the toll tunnel shall be used for the purpose of…
   • § 31223 The authority may also carry insurance or indemnity bonds insuring against the loss of tolls or other revenues to be derived from the toll tunnel by reason of…
8. ARTICLE 8. Local Cooperation §§ 31230–31235 · 6 sections

   • § 31230 Any city, county, district, or political subdivision of the state upon the request of the authority may advance or contribute money, rights-of-way, labor,…
   • § 31231 Any city, county, district, or political subdivision of the state may issue general obligation bonds for any of the purposes enumerated in this article. All…
   • § 31232 Money or property advanced or contributed pursuant to this article may be immediately transferred or delivered to the authority to be used for the purpose for…
   • § 31233 The authority may enter into a binding agreement with any city, county, district, or political subdivision of the state to repay any money or the value of any…
   • § 31234 The collection of tolls shall be continued on the toll tunnel until all bonds issued pursuant to this chapter for its construction are fully redeemed and paid.
   • § 31235 After all bonds issued pursuant to this chapter for the construction of the toll tunnel have been fully redeemed and paid, the authority may continue to…
9. ARTICLE 9. State Cooperation § 31240 · 1 section

   • § 31240 The California Highway Commission and the Department of Public Works shall, upon the request of the authority, aid in the construction of any necessary…
10. ARTICLE 10. Operation and Maintenance After Retirement of Bonds §§ 31245–31246 · 2 sections

    • § 31245 After all bonds issued pursuant to this chapter for the construction of the toll tunnel have been fully redeemed and paid, the authority shall either: (a)…
    • § 31246 If the toll tunnel is transferred to the state pursuant to subdivision (a) of Section 31245, the existence of the authority shall thereupon automatically…