Pub. Util. Code, § 150209 · Chapter 5. Transactions and Use Tax
Pub. Util. Code, § 150209
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) The bonds authorized by the voters concurrently with the approval of the retail transactions and use tax may be issued by the authority at any time, and from time to time, payable from the proceeds of the tax. The bonds shall be referred to as “limited tax bonds.” The bonds may be secured by a pledge of revenues from the proceeds of the tax.
(b) The pledge of the tax to the limited tax bonds authorized under this chapter shall have priority over the use of any of the taxes for “pay-as-you-go” financing, except to the extent that the priority is expressly restricted in the resolution authorizing the issuance of the bonds.
Notes and commentary — not statutory text
History
Added by Stats. 1986, Ch. 1521, Sec. 1.
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=PUC§ionNum=150209.
- Text hash
- sha256 62f6e3d7af5d1fa393c73cb8de10b6a024ee853ce1fb638c1cd012cfac8ff325
- 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.