§ 100113
177 words·~1 min read·
/ca/public-utilities-code/100113A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The VTA shall not levy any tax pursuant to Section 100250 unless approved by the electors voting on the measure in accordance with Article XIII C of the California Constitution at a special election called for that purpose by the board of directors.
(b)Whenever a bond election is held to authorize incurring bonded indebtedness pursuant to Section 100400, the ordinance calling the election shall include a statement of the tax or taxes to be levied or continued to be levied and used, to the extent those taxes are required to pay principal of and interest on the bonds as the same become due, to provide any sinking fund payments required therefor, or to create or maintain any reserve fund required therefor. A vote in favor of the issuance of the bonds shall authorize the board to levy and collect such taxes. The ordinance levying the taxes shall not be repealed until all bonds payable from the revenues derived from the taxes have been fully paid or provision has been made for their payment in full.