BILL NUMBER: AB 730	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Alejo

                        FEBRUARY 21, 2013

   An act to amend Section 106062 of, and to repeal Section 106061
of, the Public Utilities Code, relating to transportation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 730, as introduced, Alejo. Monterey-Salinas Transit District.
   Existing law creates the Monterey-Salinas Transit District to
include all of the County of Monterey, with specified powers and
duties relative to provision of public transit service. Existing law
authorizes the district to issue bonds under the Revenue Bond Law of
1941, payable from revenues of any facility or enterprise to be
acquired or constructed by the district. Under that law, issuance of
revenue bonds generally requires voter approval, unless an exemption
is provided.
   This bill would revise these provisions. The bill would exempt the
district from the requirement to seek voter approval prior to
issuing revenue bonds, and would instead authorize those bonds to be
issued by a 2/3 vote of the district's board. The bill would
authorize the district to pledge revenues or other moneys available
to the district from any source, including a transactions and use
tax, to payment of those bonds. The bill would impose a maximum
amount of $50,000,000 on revenue bonds that may be issued by the
district. The bill would limit use of revenue bonds to a project or
projects not located on or adjacent to the former Fort Ord. The bill
would make other related changes.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 106061 of the Public Utilities Code is
repealed. 
   106061.  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) of Part 1 of Division 2 of Title 5 of
the Government Code), all of the provisions of which are applicable
to the district. 
  SEC. 2.  Section 106062 of the Public Utilities Code is amended to
read:
   106062.  The district  may issue bonds not to exceed the
amount of fifty million dollars ($50,000,000), payable in whole or in
part from revenues of any enterprise acquired, constructed, or
completed, or to be acquired, constructed, or completed, by the
district, in the manner provided by the Revenue Bond Law of 1941
(Chapter 6 (commencing with Section 54300) of Part 1 of Division 2 of
Title 5 of the Government Code), all of the provisions of which are
applicable to the district, except that Article 3 (commencing with
54380) of Chapter 6 of Part 1 of Division 2 of Title 5 of the
Government Code and the restrictions in that article, including, but
not limited to, restrictions on the securing of bonds by the taxing
power or the proceeds of taxation, do not apply to the issuance 
 and sale of bonds pursuant to this article and, instead, the
district shall authorize the issuance of those bonds by resolution of
its governing board approved by a two-thirds vote of the board. The
district  is a local agency within the meaning of the Revenue
Bond Law of 1941  (Chapter 6 (commencing with Section 54300)
of Part 1 of Division 2 of 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   section
 , include transit  equipment or  facilities and any
and all  parts thereof and all  additions  ,
extensions,  and improvements thereto and all other 
equipment or  facilities authorized to be acquired, constructed,
or completed by  a   the  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 those facilities   , but only
for a project or projects not located on or adjacent to the former
Fort Ord. Any revenues or other income, receipts, or amounts made
available to the district, including, but not limited to, the
proceeds of a transactions and use tax, shall be deemed revenues of
the enterprise for purposes of the Revenue Bond Law of 1941  .
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   enterprise  authorized
under this part, and all proceedings may be carried on simultaneously
or in the alternative, as the  directors  
board  may determine.  As used in this section, "equipment"
inclu   des "vehicles."