California Public Utilities Code ARTICLE 2 - Equipment Trust Certificates

• Section 120650.
  The board may purchase transit equipment such as cars, trolley buses, motorbuses, light rail vehicles, or rolling equipment, and may execute agreements, leases, and equipment...
• Section 120651.
  The agreement to purchase or lease may direct the vendor or lessor to sell and assign or lease the rolling equipment to a bank or...
• Section 120652.
  The agreements and leases shall be duly acknowledged before a person authorized by law to take acknowledgments of deeds and in the form required for...
• Section 120653.
  The covenants, conditions, and provisions of the agreements, leases, and equipment trust certificates shall not conflict with any of the provisions of any trust agreement...
• Section 120654.
  An executed copy of each agreement and lease shall be filed in the office of the Secretary of State, who shall be entitled to receive...

Last modified: October 22, 2018