Gov. Code, § 14064 · Article 4. Purchase, Sale, and Leasing of Passenger Transportation Vehicles
Gov. Code, § 14064
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Equipment obligations shall be sold by the Treasurer, after a resolution requesting the sale has been adopted by the commission. Equipment obligations may be sold by public bid or by a private negotiated sale. The Treasurer may sell equipment obligations at a discount not to exceed 5 percent of the par value thereof.
(b) Equipment obligations, and the interest thereon, are exempt from taxation in this state, except for gift taxes.
Notes and commentary — not statutory text
History
Added by Stats. 1984, Ch. 1510, Sec. 1. Effective September 28, 1984.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=14064.
- Text hash
- sha256 4be9ffbda2cbd2528c1393d1d2dfde039f32e18e75445368396703ed8b13807d
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.