Art. XVI, § 15
Parking meter revenue as security for parking bonds
Power
Taxes, Money & Commerce
Art. XVI · Public Finance
Official text rightpowerlimitif conditionlegal term
A public body authorized to issue securities to provide public parking facilities and any other public body whose territorial area includes such facilities are authorized to make revenues from street parking meters available as additional security.
History: Sec. 15 added Nov. 5, 1974, by Prop. 8. Res.Ch. 70, 1974.
Simplified explanation
A public body authorized to issue securities for public parking facilities, and any other public body whose area includes those facilities, may make street parking meter revenues available as additional security.