2021 California Code
Streets and Highways Code - SHC
DIVISION 17 - TOLL FACILITIES AND RELATED MATTERS
CHAPTER 4.6 - State-Owned Toll Bridge Seismic Retrofit Financing Act of 2001
Section 31071.5.
(a) Bonds issued under this chapter may not be deemed to constitute a debt or liability of the state or of any political subdivision thereof, other than the bank, or a pledge of the faith and credit of the state or of any political subdivision thereof, but shall be payable solely from the account, and the assets of the account, and the security provided by the account. All bonds issued under this chapter shall contain on the face of the bonds a statement to this effect.
(b) Notwithstanding any other provision of law, Article 3 (commencing with Section 63040) of, Article 4 (commencing with 63042) of, and Article 5 (commencing with Section 63043) of Chapter 2 of Division 1 of Title 6.7 of the Government Code do not apply to any financing provided by the bank to, or at the request of, the department in connection with the account.
(Added by Stats. 2001, Ch. 907, Sec. 5. Effective January 1, 2002.)
