California Streets and Highways Code 27300 – The board may in each fiscal year set aside in separate funds out of …
The board may in each fiscal year set aside in separate funds out of the revenues of the works a sufficient sum to:
(a) First, pay the operating expenses of the district.
Terms Used In California Streets and Highways Code 27300
- board: means the board of directors of the district unless the context clearly indicates otherwise. See California Streets and Highways Code 27002
- district: means a bridge and highway district unless the context clearly indicates otherwise. See California Streets and Highways Code 27001
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- maintenance: includes any of the following:
California Streets and Highways Code 27
(b) Second, provide for repairs and maintenance of the works owned or operated by the district, including any payments to be made into a replacement fund for buses and ferries.
(c) Third, provide for the purchase, lease, or other acquisition of district equipment, supplies, and other properties, including provision for interest, sinking funds, reserve funds, or other funds required for the payment of any obligations incurred by the district for the acquisition of such properties.
(d) Fourth, pay any indebtedness or lien that may exist against the district or any of its property or revenues.
The revenues of the works are hereby pledged to the aforesaid purposes.
(Amended by Stats. 1972, Ch. 1381.)