Section 170082 Of Chapter 3. Powers And Duties From California Public Utilities Code >> Division 17. >> Chapter 3.
170082
. (a) Notwithstanding any other provisions of this division
or any other law, the provisions of all ordinances, resolutions, and
other proceedings in the issuance by the authority of any bonds,
bonds with a pledge of revenues, bonds for improvement districts,
revenue bonds, equipment trust certificates, notes, or any and all
evidences of indebtedness or liability constitute a contract between
the authority and the holders of the bonds, equipment trust
certificates, notes, or evidences of indebtedness or liability, and
the provisions thereof are enforceable against the authority or any
or all of its successors or assigns, by mandamus or any other
appropriate suit, action, or proceeding in law or in equity in any
court of competent jurisdiction.
(b) Nothing in this division or in any other law shall be held to
relieve the authority or the territory included within it from any
bonded or other debt or liability contracted by the authority.
(c) Upon dissolution of the authority or upon withdrawal of
territory therefrom, that territory formerly included within the
authority, or withdrawn therefrom, shall continue to be liable for
the payment of all bonded and other indebtedness or liabilities
outstanding at the time of the dissolution or withdrawal as if the
authority had not been so dissolved or the territory withdrawn
therefrom, and it shall be the duty of the successors or assigns to
provide for the payment of the bonded and other indebtedness and
liabilities.
(d) To the extent provided in the proceedings for the
authorization, issuance, and sale of any revenue bonds, bonds secured
by a pledge of revenues, or bonds for improvement districts secured
by a pledge of revenues, revenues of any kind or nature derived from
any revenue-producing improvements, works, facilities, or property
owned, operated, or controlled by the authority may be pledged,
charged, assigned, and have a lien thereon for the payment of the
bonds as long as the same are outstanding, regardless of any change
in ownership, operation, or control of the revenue-producing
improvements, works, facilities, or property and it shall, in any
later event or events, be the duty of the successors or assigns to
continue to maintain and operate the revenue-producing improvements,
works, facilities, or property as long as bonds are outstanding.