California Public Utilities Code

§ 99270

PUC § 99270Div. 10 · Part 11 · Ch. 4 · Art. 4

Statute text

On or after the first day of any fiscal year, an operator may engage in temporary borrowing pursuant to Article 7.6 (commencing with Section 53850), Chapter 4, Part 1, Division 2, Title 5 of the Government Code and for such purposes “revenues” as defined in Sections 53856 and 53858 of that code may include the amount of any claim permitted under this article if a claim has been filed and approved. The amount of any claim for the purposes of this section shall be subject to the limitations on claims specified in this chapter; provided that the calculations of the limitations referred to herein may be based upon estimates of the operator. The payments made for temporary borrowing authorized under this section shall not be deemed capital expenditures for purposes of Section 99267. The power of an operator to levy taxes shall not be a prerequisite to its power to issue notes as general obligations pursuant to Article 7.6.

Legislative history

Added by Stats. 1973, Ch. 812.