Section 100605 - Rates of assessments for payment of bonds(a) Special benefit assessments for the payment of the principal of, and interest on, bonds issued for a benefit district or zone shall be levied in the benefit district or zone at rates that are sufficient in the aggregate, together with revenues already collected and available, to pay the principal of, and interest on, all bonds the VTA issued for the benefit district or zone. Other revenues of the VTA shall be used for the payment of the principal of, and interest on, the bonds only to the extent set forth in any agreement of the VTA for the benefit of bondholders.(b) Special benefit assessments in the benefit district and zones, if any, therein shall be calculated in accordance with the requirements set forth in Section 4 of Article XIII D of the California Constitution.Ca. Pub. Util. Code § 100605
Amended by Stats 2016 ch 381 (AB 2196),s 114, eff. 1/1/2017.Amended by Stats 2004 ch 645 (AB 2817), s 13, eff. 1/1/2005.Added by Stats 2003 ch 727 (AB 935), s 1, eff. 1/1/2004.