This section allows a district to borrow money by issuing bonds to pay for building, buying, or finishing transit facilities or related properties necessary for their operations.

This section explains that if a district's board decides by a two-thirds vote that it's in the public's interest to acquire or build new transit facilities or related projects that are too expensive to cover with regular income, they can propose a bond measure. This bond measure allows them to raise money by borrowing, which needs to be approved by voters in a special election.

This law section allows voters in a district to start proceedings to issue bonds without waiting for the board's approval of a formal resolution. Instead, the voters can initiate this action through a petition process.

This law states that if a group of voters in a district wants the local government to take on a new transit project or acquire necessary property by taking on debt (bonded indebtedness), they can start a petition. If the petition is signed by at least 15% of the voters from the last election, it can be presented to the board. The district's secretary then needs to check and confirm the signatures and report back to the board.

If the needed number of signatures on a petition is confirmed to be real, the secretary must send the board a true copy of the petition, but without the actual signatures.

When the board gets a petition with enough valid signatures, they must prepare a proposal for the voters to decide on borrowing money through bonds. This is for specific purposes mentioned in the petition. The board can choose to hold this special bond election immediately or wait to combine it with the next regularly scheduled district election.

This law describes what must be included in an ordinance calling for a special bond election. It requires specifying the election date, how the election will be conducted, and how votes will be collected for or against taking on debt. The ordinance must also detail what the debt will finance, the project costs, the debt's principal amount, and the interest rate, which cannot exceed 6% per year, paid semiannually.

This law allows voters to consider multiple proposals to take on debt for different projects or goals during the same election.

This law explains that a special bond election can be held on its own or combined with another election where district voters are eligible to vote. If the elections are combined, the usual rules for setting up the special bond election still apply, but there's no need to detail the voting precincts, polling places, or election officers. Instead, these details will follow the arrangements of the other election it's combined with, which should be clearly referenced in the descriptions for clarity.

This law states that once an ordinance is published, there is no need to provide any additional notice about an election.

This law section outlines how certain roles and terms in the Elections Code are replaced with specific counterparts when it comes to bond elections related to this statute. Instead of a 'county clerk' or 'county elections official,' the 'secretary of the board' handles these duties. The 'board of supervisors' is replaced by the 'board of directors,' and the 'district attorney or county counsel' is replaced by the 'attorney for the district.'

To approve the issuance of general obligation bonds, at least 60% of voters participating in the election must vote in favor of the proposal.

If a bond proposal is rejected in a special election, the board can’t hold another similar election for six months unless 15% of the district's voters from the last general election sign a petition asking for a new vote.