California Law (Last Updated: March 4, 2014) |
Public Utilities Code - PUC |
Division 10. TRANSIT DISTRICTS |
Part 11. PROVISIONS APPLICABLE TO ALL PUBLIC TRANSIT |
Chapter 2. Local Transportation Systems |
Section 99119.
Latest version.
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Whenever the legislative body or board of supervisors deems that the expenditure of money for the purposes for which the bonds were authorized by the voters is impractical or unwise, it may, by ordinance adopted by a vote of two-thirds of all members of the legislative body or board of supervisors, so declare and call an election to be held in the benefit district for the purpose of submitting to the qualified voters thereof the proposition of incurring indebtedness by the issuance of such bonds for some other purposes or, in the case where bonds have been sold, the proposition to use the proceeds for some other purposes. The procedure, so far as applicable, shall be the same as when a bond proposition is originally submitted.
(Added by Stats. 1968, Ch. 1325.)