Public-domain · open source
OpenJurist

Cal. Pub. Util. Code § 130531

Bonds and Notes

Known as the Los Angeles County Transportation Commission Revenue Bond Act

The act spans §§ 130500–130553 (37 sections).

Added by Stats. 1984, Ch. 1646, Sec. 2.

Notwithstanding any other provision of law:

(a) The commission and its revenues are exempt from all taxes on, or measured by, income.

(b) Bonds issued by the commission are exempt from all property taxation, and the interest on the bonds are exempt from all taxes on income.

(c) All property owned by the commission is exempt from property taxes, assessments, and other public charges secured by liens.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.