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HomePublic Utilities CodeDiv. 10Pt. 11.5Ch. 6§ 99692 Transportation Bond Committee Authority

§ 99692 Transportation Bond Committee Authority

Public Utilities Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 99692 Transportation Bond Committee Authority

Key Takeaways

  • •A special group called the 'Transportation Improvement Finance Committee' is created to handle money for transportation projects.
  • •This group has three members: the Controller, the Director of Finance, and the Treasurer (or people they choose to represent them).
  • •The Treasurer is in charge of this group.
  • •The group can make decisions if at least two of the three members agree.

Example

Imagine your school wants to build a new playground but needs money for it.

A small group of important people (like the principal, the school's money manager, and the person who takes care of the school's savings) would be in charge of deciding how to get and use the money for the playground. They can make decisions even if one of them disagrees.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 99692 Transportation Bond Committee Authority

(a) Solely for the purpose of authorizing the issuance and sale, pursuant to the State General Obligation Bond Law, of the bonds authorized by this chapter, the Transportation Improvement Finance Committee is hereby created. For purposes of this chapter, the Transportation Improvement Finance Committee is “the committee” as that term is used in the State General Obligation Bond Law. The committee shall consist of the Controller, the Director of Finance, and the Treasurer, or their designated representatives. The Treasurer shall serve as chairperson of the committee. A majority of the committee may act for the committee. (b) For purposes of this chapter, the commission is hereby designated as “the board.” (Added June 5, 1990, by initiative Proposition 116.)

Last verified: January 23, 2026

Key Terms

obligationtransportationdirectorcommissionimprovementbond lawthe treasureradded june

Related Statutes

  • § 40163 Orange County Transit Powers
  • § 99691.5 Bond Issuance Procedures
  • § 29034.7 Dublin Warm Springs Extension
  • § 99690 Clean Air Bond Act
  • § 99691 Bond Proceeds Deposit Rules

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Public Utilities Code. Section 99692.
View Official Source