Section 142263 - Authorization to issue bonds part of ballot proposition to approve tax; maximum bonded indebtedness; wording of ballot(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.Ca. Pub. Util. Code § 142263
Amended by Stats 2005 ch 248 (SB 110),s 4, eff. 1/1/2006Added by Stats 2001 ch 474 (SB 685), s 20, eff. 1/1/2002.Former 142263 repealed by Stats 2001 ch 474 (SB 685), s 19, eff. 1/1/2002.