Section 30950.2 Of Chapter 4.3. Metropolitan Transportation Commission From California Streets And Highways Code >> Division 17. >> Chapter 4.3.
30950.2
. (a) Except as provided in subdivision (b), the authority
is responsible for the administration of all toll revenues from
state-owned toll bridges within the geographic jurisdiction of the
Metropolitan Transportation Commission.
(b) Notwithstanding any other provision of law, until such time as
obligations of the California Infrastructure and Economic
Development Bank secured by the seismic retrofit surcharge imposed
pursuant to subdivision (a) of Section 31010 are no longer
outstanding, as that term is defined in the constituent instruments
defining the rights of the holders of those obligations, both of the
following apply:
(1) The phrase "toll revenues" as used in Chapter 4 (commencing
with Section 30910) and this chapter shall not include the seismic
retrofit surcharge imposed pursuant to subdivision (a) of Section
31010.
(2) The seismic retrofit surcharge imposed pursuant to subdivision
(a) of Section 31010 shall remain pledged to the payment of
obligations incurred by the California Infrastructure and Economic
Development Bank under Chapter 4.6 (commencing with Section 31070).