Bill Text: CA SB613 | 2013-2014 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Bay Area Toll Authority.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2013-10-05 - Chaptered by Secretary of State. Chapter 603, Statutes of 2013. [SB613 Detail]

Download: California-2013-SB613-Introduced.html

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BILL NUMBER: SB 613	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator DeSaulnier

                        FEBRUARY 22, 2013

   An act to amend Sections 30951 and 30959 of the Streets and
Highways Code, relating to toll bridges.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 613, as introduced, DeSaulnier. Bay Area Toll Authority.
   Existing law designates the Metropolitan Transportation Commission
as the regional transportation planning agency for the San Francisco
Bay Area. Existing law creates the Bay Area Toll Authority, governed
by the same board as the commission, with specified powers and
duties relative to the administration of certain toll revenues from
state-owned toll bridges within the geographic jurisdiction of the
commission. Existing law authorizes the authority to do all acts
necessary or convenient for the exercise of its powers and the
financing of projects, including the authorization to acquire,
construct, manage, maintain, lease, or operate any public facility or
improvements and to invest any money not required for immediate
necessities as the authority deems advisable.
   This bill would impose certain limitations on the actions of the
authority in exercising its powers. The bill would provide that the
authority may acquire, construct, manage, maintain, lease, or operate
facilities required solely for the management of Bay Area
state-owned toll bridges or to provide access to those bridges. The
bill would prohibit revenues in any reserve funds established by bond
covenants or other agreements from being invested in real estate.
The bill would prohibit investments in real estate of money not
required for immediate necessities.
   Existing law authorizes the authority to make contributions to the
commission in furtherance of the exercise of the authority's powers,
as specified. Existing law also authorizes the authority to make
contributions to the commission on a reimbursement-for-cost basis,
but reimbursement is not required to the extent the authority
determines that the contributions are in furtherance of the exercise
of the authority's powers.
   This bill would limit direct contributions by the authority to the
commission to 1% of gross annual toll bridge revenues, and would
include a contribution for overhead expenses as an authorized
contribution. The bill would require contributions by the authority
to the commission on a reimbursement-for-cost basis to be provided in
the form of a loan to be repaid at a specified interest rate. The
bill would limit the amount of these loans to 1% of gross annual toll
bridge revenues.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 30951 of the Streets and Highways Code is
amended to read:
   30951.  The authority is authorized in its own name to do all acts
necessary or convenient for the exercise of its powers under this
division and the financing of projects,  including, but not
limited to, the following   as follows  :
   (a) To make and enter into contracts.
   (b) To employ agents or employees.
   (c) To acquire, construct, manage, maintain, lease, or operate
 any public facility or improvements  
facilities required solely for the management of state-owned toll
bridges within the geographic jurisdiction of the commission, or to
provide access to those toll bridges .
   (d) To sue and be sued in its own name.
   (e) To issue bonds and otherwise to incur debts, liabilities, or
obligations.  Revenues in any reserve funds established by bond
covenants or other agreements shall not be invested in real property.

   (f) To apply for, accept, receive, and disburse grants, loans, and
other assistance from any agency of the United States of America or
of the State of California.
   (g) To invest any money not required for the immediate necessities
of the authority, as the authority determines is advisable  ,
except that investments shall not include real property  .
   (h) To apply for letters of credit or other forms of financial
guarantees in order to secure the repayment of bonds and to enter
into agreements in connection with those letters of credit or
financial guarantees.
  SEC. 2.  Section 30959 of the Streets and Highways Code, as added
by Section 7 of Chapter 515 of the Statutes of 2009, is amended to
read:
   30959.  The authority may make  direct  contributions to
the commission in furtherance of the exercise of the authority's
powers under this division, including  , without limitation,
 contributions in the form of personnel services, office
space,  overhead,  and  other  funding
necessary to carry out the function of the authority, with those
contributions not to exceed 1 percent of the   gross annual
bridge revenues  . The authority may also make  additional
 contributions  in the form of loans  to the commission
on a reimbursement-for-cost basis; provided  , however, that
reimbursement shall not be required to the extent that the
contributions provided to the commission are determined by the
authority to be in furtherance of the exercise of the authority's
powers under this division   that t   hose
loans do not, independent of the direct contributions, exceed 1
percent of the gross annual bridge revenues and are fully repaid with
interest at the same interest rate that would apply for toll bridge
  revenue bonds of the same duration as any loan taken by
the commission.   As used in this section, "gross annual
bridge revenues" shall have the same meaning as in Section 30958
 .