28M.3 - REGIONAL TRANSIT DISTRICT AUTHORITY -- COUNTY ENTERPRISE -- BONDING AUTHORITY.
28M.3 REGIONAL TRANSIT DISTRICT AUTHORITY -- COUNTY
ENTERPRISE -- BONDING AUTHORITY.
A regional transit district shall have all the rights, powers, and
duties of a county enterprise pursuant to sections 331.462 through
331.469 as they relate to the purpose for which the regional transit
district is created, including the authority to issue revenue bonds
for the establishment, construction, reconstruction, repair,
equipping, remodeling, extension, maintenance, and operation of
works, vehicles, and facilities of a regional transit district. In
addition, a regional transit district, with the approval of the board
of supervisors, may issue general obligation bonds as an essential
county purpose pursuant to chapter 331, division IV, part 3, for the
establishment, construction, reconstruction, repair, equipping,
remodeling, extension, maintenance, and operation of works, vehicles,
and facilities of a regional transit district. Such general
obligation bonds are payable from the property tax levy authorized in
section 28M.5.
The commission appointed pursuant to section 28M.4 shall have and
may exercise all powers of the board of supervisors in management and
administration of the regional transit district as if it were a board
of supervisors and as if the regional transit district were a county
enterprise under sections 331.462 through 331.469. Section History: Recent Form
2004 Acts, ch 1072, §3; 2005 Acts, ch 19, §17; 2005 Acts, ch 37,
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