This law allows a transit district to take on debt by issuing bonds to finance the creation, building, or completion of transit facilities. The funds can also be used to buy necessary resources, land, buildings, or equipment needed to fulfill the district's goals and responsibilities.

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.

If at least 15% of voters from the last statewide election in a district sign a petition requesting the district to either start or complete transit projects, or acquire necessary land, property, or equipment, and also propose incurring a bonded debt to cover the costs, the district's secretary must quickly verify the signatures and report the findings 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 section explains that when a special bond election is called, the ordinance must specify the election date and how the election will be conducted, including how people will vote on the proposed debt. It must also clearly state the reasons for the debt, the estimated costs for acquiring or building transit-related facilities, and the total amount of debt. Lastly, it needs to specify the maximum interest rate on the debt, which can't be more than 6% per year, payable either annually or semiannually.

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

This law states that special bond elections can be held separately or combined with other elections where district voters can participate. If combined, the rules for the special bond election must still be followed. However, details about voting precincts, polling places, and election officers don't have to be included in the ordinance calling for the election. Instead, these details can match those from the election it is combined with, simply by referencing the relevant ordinance or notice.

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 specific substitutions for terms used in the Elections Code when it comes to bond elections conducted by a board, according to applicable provisions. It specifies that where the Elections Code mentions certain local government roles, those terms are replaced with relevant board equivalents. For example, 'county clerk' or 'county elections official' is replaced with 'secretary of the board', 'board of supervisors' becomes 'board of directors', and 'district attorney or county counsel' is changed to 'attorney for the district'.

This law states that in order to issue bonds under this chapter, more than half of the people who vote on the proposal during the election must agree to it.

If a special bond election doesn't get enough votes, the board can't hold another similar election for six months unless 15% of voters from the last statewide election sign a petition requesting it.