2009 California Public Utilities Code - Section 29150-29168 :: Article 1. Authorization Of General Obligation Bonds

29150.  The district may borrow money, incur a bonded indebtedness
in respect thereto, and levy taxes for the payment of principal and
interest thereon, in the manner provided in Chapter 7 of this part,
but no such bonded debt shall exceed fifteen (15) percent of the
assessed valuation of taxable property within the district.

29151.  Before submitting a proposal to incur any bonded
indebtedness, the district shall employ such engineers, economists,
fiscal experts and others as is necessary to develop general plans,
estimates and general specifications pertaining to the projects for
which the bond issue is proposed, sufficient in the opinion of the
board to enable the board to determine the feasibility of such
projects, provided that no such reports or the approval thereof
specified in Section 29156 of this code shall be applicable to any
proposal for the issuance of additional bonds to complete the project
referred to in the original reports.

29152.  Such engineers, economists, fiscal experts and others shall
make reports to the district, which shall include:
   (a) A general description of the facilities to be acquired or
constructed from the proceeds of the proposed bond issue.
   (b) The estimated total cost of constructing or acquiring, or
both, such facilities.
   (c) The estimated period of construction of such facilities.
   (d) An estimate of the revenues which may be expected to be
derived therefrom.
   (e) The amount of bonds which will be required to pay the
estimated total cost of constructing or acquiring such facilities. If
the district determines to make interest payments out of bond
proceeds, the estimate may include a sum sufficient to pay interest
on the bonds during the estimated period of construction and for
three years, or less, thereafter.
   (f) An estimate of the taxes required to be levied for all
district purposes, the sources from which such taxes shall be
obtained, and the proportion or amount to be derived from each
source.

29153.  After receiving such reports, the board shall determine and
declare by resolution whether or not the proposed plan of work is
feasible and whether or not the project, as set forth in said
reports, is necessary, and if so, shall make an order determining the
amount of bonds that should be issued in order to raise the amount
of money necessary therefor, and in determining such amount,
sufficient shall be included to cover the cost of inspection of works
in course of construction. Such determination by the board shall
constitute a conclusive determination that the reports then on file
with the board are adequate and sufficient to enable the board to
make the determination as set forth in such resolution.

29154.  After adoption by the board of the reports made pursuant to
Section 29152 the board shall refer such reports to the boards of
supervisors of the counties comprising the district for their
approval.

29155.  After receiving the reports, each board of supervisors shall
fix a time and place for a public hearing to consider the reports.
The time fixed for the hearing shall not be less than 30 days nor
more than 60 days from the date the reports were received from the
board.

29156.  Within 15 days from the date of the public hearing held
pursuant to Section 29155, each board of supervisors shall, by a
resolution adopted by a majority vote of the board of supervisors,
determine whether it approves the reports and shall file an executed
copy of the resolution with the secretary of the district.

29157.  If a majority of any board of supervisors does not approve
the reports, the district may make additional studies and changes and
may refer the amended reports to the board of supervisors of the
counties comprising the district in order to obtain unanimous
approval from the counties comprising the district. If no agreement
is reached within a period of six months following the date the
original reports were received from the board, any county not
approving the reports may withdraw from the district under Chapter 10
(commencing with Section 29650), notwithstanding that, after that
county's disapproval, the reports are withdrawn by the district.
Failure of a county to withdraw from the district, within 30 days
following the six-month period, has the same effect as approval by
the board of supervisors of the county of the reports as last
amended, unless the reports have been previously withdrawn by the
district.

29157.1.  Whenever it appears to the board that bonded indebtedness
heretofore authorized pursuant to the provisions of this article is
insufficient to cover all costs of the acquisition and construction
of facilities, the board shall make an order determining the amount
of bonds that should be issued in order to raise the additional funds
necessary for the completion of such facilities. The provisions of
Sections 29154, 29155, 29156 and 29157 of this code shall not be
applicable to any election to authorize the issuance of additional
bonds, after the district shall have issued all or any part of its
first authorized issue of bonds.

29158.  When the district has received unanimous approval from the
boards of supervisors of the counties comprising the district
pursuant to Section 29156 of this code, or when the board has made
its order pursuant to Section 29157.1 of this code, the board shall
call a special election and submit to the qualified voters of the
district the proposition of incurring such bonded indebtedness for
the acquisition, construction or completion of rapid transit
facilities by the district and all other works, property, or
structures necessary or convenient therefor and for the purpose of
carrying out the provisions of this part.

29159.  The resolution calling the special election shall contain:
   (a) A statement of the general object and purpose of incurring the
indebtedness.
   (b) Statement of the estimated cost of the proposed work and
improvements.
   (c) The amount of the principal of the indebtedness to be incurred
therefor.
   (d) The maximum term, which shall not exceed fifty (50) years,
that the bonds proposed to be issued shall run before maturity.
   (e) The maximum rate of interest to be paid on said indebtedness,
which shall not exceed six (6) percent per annum.
   (f) A statement declaring whether interest, to be paid upon such
bonds during the estimated period of construction of the works of the
district and for three years thereafter, or less, shall be a capital
charge, and shall be payable out of the principal sum realized from
the sale of bonds, and, if so, to what extent.
   (g) An estimate of the taxes required to be levied for all
district purposes, the sources from which such taxes shall be
obtained, and the proportion or amount to be derived from each
source.
   (h) The date on which the special bond election will be held, the
hours during the day which the polls will be open, and the manner of
voting for and against the incurring of such indebtedness; provided,
however, the district shall have no power or authority, within six
(6) months after an election at which a proposition submitted to the
qualified electors of the district failed to receive the requisite
number of votes as provided in Section 29168, to call or order
another election for incurring any indebtedness for purposes
substantially the same as voted upon at such prior election. If the
special bond election is consolidated with any other election, the
hours during which the polls shall be kept open in each county shall
be the same as those provided for the election with which the
election called pursuant to this part is consolidated and reference
to that effect in the resolution shall be sufficient without
specifying the particular hours.

29160.  The provisions of Section 37.5 of Chapter 1239 of the
Statutes of 1949, the San Francisco Bay Area Metropolitan Rapid
Transit District Act, relating to the repayment of appropriations
made to the San Francisco Bay Area Rapid Transit Commission from the
proceeds of the first sale of bonds issued by the district created by
that act, shall apply to and be binding upon the San Francisco Bay
Area Rapid Transit District.

29161.  Any election submitting the proposition of incurring
indebtedness and the issuance of bonds called pursuant to this part,
may be held separately, or may be consolidated with any other
election authorized by law, at which the qualified voters of any
county, city and county, or city are entitled to vote. However, in
the event an election called pursuant to this part is consolidated
with any other election, as provided by Part 3 (commencing with
Section 10400) of Division 10 of the Elections Code, the provisions
of this part setting forth the procedure for the calling of the
election called pursuant to this part shall be complied with, except
that the resolution calling the election need not set forth the
election precincts or polling places, or the officers of election,
which shall be the same as those set forth in the ordinance, order,
resolution, notice, or other proceeding calling or providing for, or
listing or designating the precincts, polling places, and election
officers for the election with which the election called pursuant to
this part is consolidated, and shall refer to the election or to the
ordinance, order, resolution, notice, or other proceeding calling,
providing for, or giving notice of the election, and which sets forth
the precincts, polling places, and election officers. This reference
may be made by giving the number or title or date of adoption of the
ordinance, resolution, or order or to the date or proposed date of
any publication of the notice and the name of the newspaper or
proposed newspaper in which the notice has been or will be published
or by any other definite description. Whenever a bond election called
pursuant to this part is consolidated with a statewide general
election held in the district, references to that general election
shall be sufficient for all purposes of this part.

29162.  Whenever a special bond election is called pursuant to this
part and is not consolidated with any other election the board shall
in its resolution calling such special bond election, in addition to
all other matters required to be set forth therein:
   (a) Specify the precincts or consolidated precincts in each county
or portion of a county which are adopted for the purposes of the
election and designate the location of the polling places, provided
that one or more polling places may be established within the same
precinct and separate ballot boxes and separate officers of election
provided for each group of electors, which group shall be determined
by alphabetical designations and divided into groups as nearly equal
in number as practicable.
   (b) Specify the names of the officers selected to conduct the
election, who shall consist of at least one inspector and two judges
in each precinct, but not in excess of six election officers for each
polling place.
   Whenever the special bond election called pursuant to this part is
consolidated in whole or in part with any other election, the
precincts, polling places and election officers need not be set forth
in the resolution calling the special bond election except only to
the extent that any precinct, polling place and election officers
established for the special bond election differ or are in addition
to those established for the election with which the special bond
election called pursuant to this part is consolidated.

29163.  Notice of a special bond election shall be given by
publication of the text of the resolution calling the election and
except as provided below the text thereof shall be published once a
week in each calendar week for two successive calendar weeks at any
time prior to the election (the first publication of which shall be
not less than twenty (20) days nor more than ninety (90) days prior
to the date fixed for the election) in at least one newspaper of
general circulation and in not more than three newspapers, designated
by the board, which are printed and published in each county within
the district. That portion of the resolution constituting notice of
election as published in each county shall contain only the reference
to the precincts, polling places, and election officers in the
county or portion of the county in which it is published, and it
shall not be necessary to publish any portion of the resolution
setting forth the precincts, polling places or election officers in
any other county. Except for the omission in any county of the
reference to the precinct, polling place and election officers in any
other county, the text of the resolution as published in each county
to constitute notice of said election shall be the resolution in
form as adopted by the board. To each resolution published in each
county there shall be set forth a notice substantially as follows:

                                "NOTICE OF ELECTION

    NOTICE is hereby given to the qualified electors of the San
Francisco Bay Area Rapid Transit District that the Board of Directors
has duly adopted a resolution calling a special bond election within
the District which is set forth in full below, except only for the
omission of the designation of the precinct, polling place and
officers of election in any county or portion of a county in which
such election is to be held except only the designation of such
election details as the same pertain to the county or portion of a
county in which the attached resolution is published, which election
details are set forth in the following text of the resolution."

  If there is no newspaper published in any county within the
district, the notice shall be posted in three public places in such
county.

29164.  All the expenses of holding the election shall be borne by
the district, except when the election is consolidated with another
election pursuant to Part 3 (commencing with Section 10400) of
Division 10 of the Elections Code, in which case the expense borne by
the district shall be that agreed upon by the district and the other
governing body or bodies calling the election.

29165.  No error, irregularity or omission in the calling, holding
or conducting of any special bond election which does not affect the
substantial rights of the taxpayers within the district or the
electors voting at any election at which bonds of the district are
authorized to be issued shall invalidate the election or any bonds
authorized thereat.

29166.  (a) The returns of the election shall be made and the votes
shall be canvassed by the county elections official in each county
contained in the district, within thirty (30) days after holding of
the election, and the county elections officials, respectively, shall
certify the result of the election in each county, respectively, to
the board of the district.
   (b) In the event that the election is consolidated with any other
election, the returns of the election, the method of canvassing, and
the results thereof shall be designated and declared in accordance
with Part 3 (commencing with Section 10400) of Division 10 of the
Elections Code.

29167.  At any special bond election called pursuant to this part,
all residents of the district who are qualified electors possessing
the qualifications prescribed by the general election laws of the
State of California shall be entitled to vote thereat. All special
bond elections shall be held and conducted as nearly as practicable
in accordance with the general laws of the State of Califiornia,
including provisions with respect to voting by absent voters, but the
requirements as to the form of ballots need not apply except to the
extent adopted by the board. Whether a resident of the district is a
qualified elector within the district shall be conclusively
determined by the last great register of voters of the county or
portion of the county in which the election is held. Except when the
special bond election is consolidated with any other election, the
board shall designate the hours during which the polls shall be kept
open. The polls shall not be opened before 7 a.m. nor kept open later
than 8 p.m. and shall be kept open for not less than four hours.

29168.  At any special bond election two or more propositions for
incurring indebtedness may be submitted at the same election in which
event the votes cast for and against each proposition shall be
counted separately, and whenever three-fifths of the qualified
electors voting on any one of such propositions vote in favor thereof
such proposition shall be deemed adopted.