Assembly Bill 2224 - Sonoma Marin Area Rail Transit - Home Page

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AB <strong>2224</strong> — 24 —12345678910111213141516171819202122232425262728293031323334353637383940105171. The board may contract with the Board ofAdministration of the Public Employees’ Retirement System orwith a retirement system maintained pursuant to the CountyEmployees Retirement Law of 1937 and enter all, or any portion,of its employees under either of those systems. Employees of thedistrict in a bargaining unit that is represented by a labororganization shall not be included in the contract except asauthorized by a collective bargaining agreement.105172. All persons receiving pension benefits from anacquired public utility, and all persons entitled to pension benefitsunder any pension plan of the acquired public utility, may becomemembers or receive pensions under a pension plan established bythe district by mutual agreement of those persons and the district.The agreement may provide for the waiver of all rights, privileges,benefits, and status with respect to the pension plan of the acquiredpublic utility.Article 5.Other Benefits105180. The district shall obtain coverage for the district andits employees under Title II of the federal Social Security Act, asamended, (42 U.S.C. Sec. 401 et seq.) and the related provisionsof the Federal Contributions Act, as amended (26 U.S.C. Sec. 3101et seq.).105181. The district shall obtain coverage for the district andits employees under the workers’ compensation, unemploymentcompensation, and disability and unemployment insurance lawsof this state.CHAPTER 6.Article 1.BONDS AND OTHER EVIDENCE OF INDEBTEDNESSAuthorization and Issuance of General ObligationBonds105200. Whenever the board deems it necessary for thedistrict to incur a bonded indebtedness for the acquisition orimprovement of real property authorized by this part or necessaryor convenient for the carrying out of the powers of the district, theboard shall, by ordinance, adopted by a vote of two-thirds of allmembers of the board, so declare and call an election to be held in93
12345678910111213141516171819202122232425262728293031323334353637383940— 25 —AB <strong>2224</strong>the district for the purpose of submitting to the qualified votersthereof the proposition of incurring indebtedness by the issuanceof bonds of the district, provided the total amount of bonds issuedand outstanding pursuant to this article shall not exceed 15 percentof the assessed value of the taxable property of the district asshown by the last equalized assessment roll of the counties withinthe district. The ordinance shall state:(a) The purposes for which the proposed debt is to be incurred,which may include all costs and estimated costs incidental to orconnected with the accomplishment of those purposes, including,without limitation, engineering, inspection, legal, fiscal agents,financial consultant, and other fees; bond and other reserve funds;working capital; bond interest estimated to accrue during theconstruction period and for a period not to exceed three yearsthereafter; and expenses of all proceedings for the authorization,issuance, and sale of the bonds.(b) The estimated cost of accomplishing those purposes.(c) The amount of the principal of the indebtedness.(d) The maximum term the bonds proposed to be issued shallrun before maturity, which shall not exceed 50 years from the datethereof or the date of each series thereof.(e) The maximum rate of interest to be paid, which shall notexceed 7 percent per annum.(f) The proposition to be submitted to the voters, which mayinclude one or more purposes.(g) The date of the election.(h) The manner of holding the election and the procedure forvoting for or against the measure.(i) The ordinance may also contain any other mattersauthorized by this part or any other law.105201. Notice of holding of the election shall be given bypublishing, pursuant to Section 6066 of the Government Code, theordinance calling the election in at least one newspaper publishedin the district. No other notice of the election need be given. Exceptas otherwise provided in the ordinance, the election shall beconducted as other district elections.105202. If any proposition is defeated by the electors, theboard shall not call another election on a substantially similarproposition to be held within six months after the prior election.If a petition requesting submission of this type of a proposition,93
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Assembly Bill 2224 - Sonoma Marin Area Rail Transit - Home Page

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