§ 100490 Vta Bond Validation Actions

This law lets the VTA go to court to ask if any of its bonds, certificates, warrants, notes, or other debt papers are legally valid.

Key Takeaways

•The VTA can start a court case to test the validity of its debt papers.
•It applies to bonds, equipment trust certificates, warrants, notes, and any similar evidence of debt.
•The action must follow the rules in Chapter 9 of the California Code of Civil Procedure.

Example

The VTA thinks a bond it issued might have been signed incorrectly, so it files a lawsuit to have a judge decide if the bond is still good.

The VTA uses this rule to ask the court to check the bond’s legality, just like asking a teacher to see if a test answer is correct.

The VTA may bring an action to determine the validity of any of its bonds, equipment trust certificates, warrants, notes, or other evidences of indebtedness pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure. (Amended by Stats. 2016, Ch. 381, Sec. 103. (AB 2196) Effective January 1, 2017.)

This law lets the VTA go to court to ask if any of its bonds, certificates, warrants, notes, or other debt papers are legally valid.

Key Takeaways

•The VTA can start a court case to test the validity of its debt papers.
•It applies to bonds, equipment trust certificates, warrants, notes, and any similar evidence of debt.
•The action must follow the rules in Chapter 9 of the California Code of Civil Procedure.

Example

The VTA thinks a bond it issued might have been signed incorrectly, so it files a lawsuit to have a judge decide if the bond is still good.

The VTA uses this rule to ask the court to check the bond’s legality, just like asking a teacher to see if a test answer is correct.

Key Takeaways

Example

Key Terms

References

§ 100490 Vta Bond Validation Actions

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References