2012 California Codes
PUC - Public Utilities Code
DIVISION 11.5 - NORTH COUNTY TRANSIT DISTRICT [125000 - 125716]
CHAPTER 6 - Bonds and Other Evidences of Indebtedness
Section 125703
The agreement to purchase or lease transit equipment may direct the vendor or lessor to sell and assign or lease the transit equipment to a bank or trust company duly authorized to transact business in the state as trustee for the benefit and security of the equipment trust certificates, and may direct the trustee to deliver the transit equipment to one or more designated officers of the district and may authorize the district to simultaneously therewith execute and deliver an installment purchase agreement or a lease of that equipment to the district.
(Amended by Stats. 2005, Ch. 150, Sec. 43. Effective January 1, 2006.)
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
