§ 99339 Bond Authorization Contract Provisions

• •The county leaders can add special rules to bond agreements if the transportation planning agency agrees.
• •These extra rules become part of the official deal with the people who buy the bonds.
• •This law was added in 1971 to give counties more flexibility with bond contracts.

A county wants to build new roads and needs money, so they sell bonds to investors.

The county leaders can add extra rules to the bond agreement, like how the money will be spent, but only if the local transportation agency says it's okay. These rules then become part of the official promise to the people who buy the bonds.