BILL NUMBER: AB 730	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  APRIL 1, 2013

INTRODUCED BY   Assembly Member Alejo
    (   Coauthor:   Assembly Member  
Stone   ) 

                        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 amended, 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  ,
except as specified  . 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repealed.
  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. The term
"enterprise" as used in the Revenue Bond Law of 1941 shall, for all
purposes of this section, include transit equipment or facilities and
any and all additions and improvements thereto and all other
equipment or facilities authorized to be acquired, constructed, or
completed by the district, but only for a project or projects not
located on or adjacent to the former Fort Ord  , except a project
or projects located entirely within the existing right of way of
State Highway Route 1 owned by the Department of Transportation or
within the existing right of way of the Monterey branch rail line
owned by the Transportation Agency of Monterey County  . 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 enterprise authorized under this part,
and all proceedings may be carried on simultaneously or in the
alternative, as the board may determine. As used in this section,
"equipment" includes "vehicles."