Go to Previous Versions
of
this Section
2025 California Code
Public Utilities Code - PUC
DIVISION 25 - RIVERSIDE COUNTY TRANSPORTATION COMMISSION
CHAPTER 4 - Transactions and Use Tax
Section 240309.
Universal Citation:
CA Pub Util Code § 240309 (2025)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
240309. (a) The bonds authorized by the voters concurrently with the approval of the retail transactions and use tax may be issued at any time by the commission and shall be payable from the proceeds of the tax. The bonds shall be referred to as “limited tax bonds.”
The bonds may be secured by a pledge of revenues from the proceeds of the tax.
(b) The pledge of the tax to the limited tax bonds authorized under this chapter shall have priority over the use of any of the tax for “pay-as-you-go” financing, except to the extent that that priority is expressly restricted in the resolution authorizing the issuance of the bonds.
(Added by Stats. 1987, Ch. 270, Sec. 2. Effective July 28, 1987.)
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.
