As an alternative procedure for the raising of funds, the district may issue bonds, payable from revenues of any facility or enterprise to be acquired or constructed by the district, in the manner provided by the Revenue Bond Law of 1941 (Chapter 6 (commencing with Section 54300), Part 1, Division 2, Title 5 of the Government Code), all of the provisions of which are applicable to the district.
BondsRevenue Bonds
Section § 101335
This law allows a district to raise funds by issuing bonds that will be paid back using money generated from any facility or business that the district will buy or build. This process follows the rules set out in the Revenue Bond Law of 1941.
revenue bonds fundraising for districts district facilities
Section § 101336
This section explains that a district is a local agency under the Revenue Bond Law of 1941. It clarifies that when this law refers to an 'enterprise,' it includes transit facilities and related structures. The law permits districts to issue revenue bonds to fund these facilities, whether as a single project or multiple projects, and they can choose different procedures for bond issuance. These options do not limit the district from using other methods to fund facilities.
The district is a local agency within the meaning of the Revenue Bond Law of 1941 (Chapter 6 (commencing with Section 54300), Part 1, Division 2, Title 5 of the Government Code). The term “enterprise” as used in the Revenue Bond Law of 1941 shall, for all purposes of this part, include transit facilities, and any and all parts thereof, and all additions, extensions, and improvements thereto, and all other facilities authorized to be acquired, constructed, or completed by the district. A district may issue revenue bonds under the Revenue Bond Law of 1941 for any one or more facilities or enterprises authorized to be acquired, constructed, or completed by a district or, in
the alternative, may issue revenue bonds under the Revenue Bond Law of 1941 for the acquisition, construction, and completion of any one of such facilities. Nothing in this article shall prevent the district from availing itself of, or making use of, any procedure provided in this part for the issuance of bonds of any type or character for any of the facilities or works authorized hereunder, and all proceedings may be carried on simultaneously or, in the alternative, as the board may determine.
local agency Revenue Bond Law of 1941 transit facilities
