Code Section Group

Public Utilities Code - PUC

DIVISION 10. TRANSIT DISTRICTS [24501 - 107025]

  ( Division 10 repealed and added by Stats. 1955, Ch. 1036. )

PART 2. SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT [28500 - 29757]

  ( Part 2 added by Stats. 1957, Ch. 1056. )

CHAPTER 8. Bonds and Other Evidences of Indebtedness [29150 - 29293]

  ( Chapter 8 added by Stats. 1957, Ch. 1056. )

ARTICLE 3. Issuance and Sale of General Obligation Bonds [29200 - 29202]
  ( Article 3 added by Stats. 1957, Ch. 1056. )

29200.
  

The district may by resolution at any time, or from time to time, provide for the authorization and issuance of any bonds authorized pursuant to this part and for the sale of the whole or any part thereof.

(Added by Stats. 1957, Ch. 1056.)

29201.
  

Before making a sale of any of the bonds, notice shall be given by publication once a week, for two weeks, in a newspaper of general circulation in the district, if there is one, and no sale shall be held prior to the expiration of 15 days from the first publication of the notice. Copies of such advertisement may be published in any newspaper or financial publication in the United States and copies may be mailed to recognized investment dealers, banks, investing institutions and statistical organizations, together with any related material pertaining to the district and its bonds, but no defect in any such additional publication or failure to mail or failure of any person to receive copies of any such materials so mailed shall affect the validity of the sale. The board may reject any or all bids received if it determines that the bids are not satisfactory as to price or as to the responsibility of the bidders. If no bids are received or if the board rejects all bids received, the board may either readvertise or sell the bonds at private sale, provided, however, that if the bonds are sold at private sale, they shall not be sold at a price lower than the highest bid, if any, which was received at the public sale.

(Amended by Stats. 1967, Ch. 1518.)

29202.
  

The published notice of sale shall describe the bonds and set forth the terms and conditions of sale.

(Amended by Stats. 1965, Ch. 311.)

PUCPublic Utilities Code - PUC3