California Water Code 81671.5 – If the proceeds of bonds issued by the authority are made available …
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If the proceeds of bonds issued by the authority are made available for use on projects described in subdivision (a) of Section 81658, with the agreement and consent of San Francisco as required by subdivision (b) of Section 81658, San Francisco may not, for as long as those bonds are outstanding, sell, lease, or otherwise transfer title to, or control over, any facility used for the storage, transmission, or treatment of water to any private person or corporation.
(Added by Stats. 2002, Ch. 849, Sec. 1. Effective January 1, 2003.)
Terms Used In California Water Code 81671.5
- 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
- Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Water Code 19
- Subdivision: means a subdivision of the section in which that term occurs unless some other section is expressly mentioned. See California Water Code 10