§ 99340 Bond Proceeds And Issuance

• •This law lets a transportation planning group set rules on how money from selling bonds can be used.
• •They can decide what the money can be spent on.
• •They can also control if more bonds can be sold for the same thing and how those new bonds work.

A city wants to build a new bridge and sells bonds to get money for it.

The transportation planning group can say the bond money can only be used for the bridge and not for other things like fixing roads. They can also decide if more bonds can be sold later for the same bridge.