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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) The board of supervisors, or its designee, as part of the ballot proposition to approve the imposition of a retail transactions and use tax, shall seek authorization from the electors to issue bonds payable solely from the proceeds of the tax.
(b) The maximum bonded indebtedness which may be authorized shall be an amount equal to the sum of the principal and interest on the bonds, not to exceed the estimated proceeds of the tax, for a period of not more than 30 years. The actual wording of the proposition on any short form of ballot card, label, or other device, regardless of the system of voting used, shall include all of the following:
(1) The nature of the tax to be imposed.
(2) The tax rate or the maximum tax rate.
(3) The period during which the tax will be imposed.
(4) The purposes for which the revenue derived from the tax will be used.
(c) The sample ballot to be mailed to the voters, pursuant to Section 13303 of the Elections Code, shall include the full proposition, and the voter information handbook shall include the entire expenditure plan adopted by the authority.
Cite this article: FindLaw.com - California Code, Public Utilities Code - PUC § 142263 - last updated January 01, 2025 | https://codes.findlaw.com/ca/public-utilities-code/puc-sect-142263/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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