This section allows voters to approve both a retail transactions and use tax and the issuance of bonds as part of a transportation plan. The bonds help fund large transportation projects, with repayment coming from the tax revenue.

The total amount of bonds that can be issued is capped at the total expected revenue from the tax, including principal and interest. Bonds that are covered by specific trust funds or escrow accounts ready for repayment aren't counted in this limit.

This law allows a county authority to issue bonds, including refunding bonds or bond anticipation notes, if certain conditions were met with voter approval back on November 8, 1988. Specifically, the voters must have approved a retail transactions and use tax along with a $765 million spending limit, and the authority's ordinance must have allowed issuing bonds backed by that tax.

This law allows bonds, referred to as “limited tax bonds,” to be issued by an authority whenever necessary, as long as voters have approved both the bonds and a related retail transactions and use tax. These bonds are to be paid back with the money collected from this tax and can be backed by a promise (pledge) of revenue from the tax proceeds.

The law also states that when these bonds are backed by the tax revenue, paying back these bonds takes priority over using the tax money directly for projects, unless the resolution for issuing the bonds specifies otherwise.

This law states that limited tax bonds can be issued if approved by a two-thirds vote from the authority. The resolution for issuing these bonds can be adopted at any time. The resolution will detail how many bonds need to be issued until the full amount authorized is reached. The total amount of bonds can be split into multiple series, with each series having different payment dates. Also, a bond does not have to mature exactly one year from its issue date.

This section explains what needs to be included in a resolution that permits the issuance of bonds. The resolution must outline the reasons for the debt, which can cover various costs related to the project like engineering and legal fees. It should state the estimated costs, the principal amount of debt, the bond's maturity term (which must be before a specific tax ends), and the maximum interest rate allowed by law. The minimum bond denominations must be $5,000, and it must specify the bond form, such as registered or coupon bonds. The resolution can also include additional authorized details as per related laws.

This law section states that the interest rates for bonds can't exceed the maximum legal limit. The frequency of interest payments is decided by the commission in charge.

This law section explains that when bonds are issued, the authority that issues them can decide if the bonds can be paid off early (called redemption). They can specify when this can happen, how much it will cost, and any other conditions. However, a bond can't be paid off early unless it specifically says so in the bond itself, either in writing or printed on it.

The money owed from bonds, both the original amount and any interest, must be paid in U.S. currency. This payment can be made at the authority treasurer's office, other designated locations, or both, depending on where the bondholders choose.

This section explains the requirements for signing and issuing bonds. The bonds and their interest coupons must be signed by specific officers such as a chairperson, vice chairperson, or auditor-controller of the authority. Even if these officers leave their positions before the bonds are delivered, their signatures will still be valid. The bonds can have signatures and seals that are printed, lithographed, or reproduced mechanically.

This law allows the authority to sell bonds at a price lower than their face value, and the sale can be either through negotiation or a public process, as decided by a resolution.

This law states that bonds can be delivered anywhere, whether inside or outside California. The payment for these bonds can be made in cash or as bank credits.

When bonds are sold, any interest earned from the sale must go into a fund dedicated to paying off the bonds' principal and interest. The main proceeds from the bond sale should be used to secure the bonds or fulfill the purpose for which the debt was incurred. If there's any money left after the purpose is fulfilled, it should either go back into the fund for paying the bonds or be used to buy back outstanding bonds on the market, after which these bonds must be canceled immediately.

The law allows an authority to issue, sell, or exchange refunding bonds to manage existing bonds, deciding the best terms and timing. These refunding bonds can cover the principal of the old bonds, any premiums needed to call or redeem them early, and expenses related to the refunding process. Additionally, they can include interest payments on either the refunding bonds or the old bonds, depending on agreements with bondholders. The process for dealing with refunding bonds follows the same rules as issuing new bonds under this chapter.

This law allows an authority to borrow money ahead of selling authorized bonds, even if those bonds haven't been sold or delivered yet. They can issue bond anticipation notes, which are essentially temporary loans that can be renewed but must be paid back or renewed within five years. The money to pay off these notes can come from any available funds, including tax revenues, or from the proceeds of the bond sales if other funds aren't used. The law also states that the total amount of these notes cannot exceed the amount of authorized bonds that haven't yet been sold. Lastly, these notes and the resolutions authorizing them can include the same terms as those found in the bond resolutions.

This section states that bonds issued as outlined in this chapter are considered valid investments for various funds such as trust funds, insurance companies, banks, and state school funds. These bonds can be used wherever current or future laws allow investments in bonds from cities, counties, or school districts. Additionally, these bonds can serve as security for public money deposits or performance requirements, similar to other bonds. The rules in this chapter supplement any existing laws about legal investments and take precedence as the most recent legislative decision.

If you want to challenge the validity of a tax ordinance or the bonds related to it, you must start your legal action within six months of the election where the ordinance was approved. If you don’t, everything about the ordinance and bonds will be considered completely valid and cannot be contested legally.