Cal. Streets and Highways Code § 31306
Cal. Streets and Highways Code § 31306
California · California Streets and Highways Code · Status: effective · Effective 1997-01-01
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- Citation
- Cal. Streets and Highways Code § 31306, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/929323
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Full text
The commission may issue revenue bonds for the purpose of obtaining funds for constructing additional highways or for making capacity enhancing improvements to existing highways to accommodate additional commercial traffic resulting from the North American Free Trade Agreement. The sole security for the payment of principal and interest on the bonds shall be revenues derived from the tolls imposed pursuant to Section 31300. In authorizing and issuing bonds pursuant to this chapter, the commission and the department shall, to the fullest extent feasible, follow the procedures and requirements of Article 5 (commencing with Section 30200) of Chapter 1 of Division 17.