The purchase price to be paid for the existing system, or any portion thereof to be purchased, shall be the reproduction cost new, including going concern value, at the date upon which the district commences negotiations for the purchase of the existing system, or the portion of the existing system, less depreciation, including wear, tear, and obsolescence, if any.
Cal. Pub. Util. Code § 40223
Existing Systems
Known as the Orange County Transit District Act
The act spans §§ 40000–40617 (136 sections).
Amended by Stats. 1981, Ch. 493, Sec. 6.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.