California Law (Last Updated: March 4, 2014) |
Public Utilities Code - PUC |
Division 10. TRANSIT DISTRICTS |
Part 11. PROVISIONS APPLICABLE TO ALL PUBLIC TRANSIT |
Chapter 1. Special Benefit Districts |
Section 99018.
Latest version.
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After the expiration of three years after a bond election the board may determine, by ordinance adopted by a vote of two-thirds of all the members of the board, that any or all of the bonds authorized at said election remaining unsold shall not be issued or sold. When the ordinance takes effect, the authorization to issue said bonds shall become void.
(Added by Stats. 1968, Ch. 1325.)