California Public Utilities Code 96123 – The district may lease or contract for the use of its transit …
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The district may lease or contract for the use of its transit facilities, or any portion thereof, to any operator, and may provide for subleases by such operator upon such terms and conditions as it deems in the public interest. The word “operator” as used in this section means any city or public agency or any person, firm or private corporation.
(Added by Stats. 1965, Ch. 1835.)
Terms Used In California Public Utilities Code 96123
- City: includes city and county and "incorporated town" but does not include "unincorporated town" or "village. See California Public Utilities Code 19
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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