Code Section

Public Utilities Code - PUC

DIVISION 10. TRANSIT DISTRICTS [24501 - 107025]

  ( Division 10 repealed and added by Stats. 1955, Ch. 1036.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

PART 10. SANTA CRUZ METROPOLITAN TRANSIT DISTRICT [98000 - 98407]

  ( Part 10 added by Stats. 1967, Ch. 978. )
  

CHAPTER 7. Bonds [98310 - 98381]

  ( Chapter 7 added by Stats. 1967, Ch. 978. )
  

ARTICLE 3. Issue and Sale [98340 - 98342]
  ( Article 3 added by Stats. 1967, Ch. 978. )

  
98342.  

In lieu of the immediate levy of a tax to pay the interest or any part thereof on any bonded indebtedness incurred in accordance with this part the board may, in the estimate of the amount of money necessary to be raised by the bonds, include a sum sufficient to pay interest on all of the bonds or part thereof during the period of acquisition, construction, or completion, but for no period in excess of five years.

(Added by Stats. 1967, Ch. 978.)