Cal. Pub. Util. Code § 132445

Current through the 2024 Legislative Session.

Section 132445 - Encumbering project with obligation transferable to LACMTA; rolling stock not included in design and construction

The authority shall not encumber the project with any obligation that is transferable to the LACMTA upon completion of the design and construction of the project. The design and construction to be administered by the authority does not include rolling stock, which is a component of the operation of the project and shall be administered by the LACMTA. This section does not apply to any joint development programs, as authorized under paragraph (5) of subdivision (a) of Section 132410, that may be utilized to contribute to the financing of project design and construction.

Ca. Pub. Util. Code § 132445

Added by Stats. 1998, Ch. 1021, Sec. 1. Effective January 1, 1999.