Section 31158 Of Article 4. Bonds From California Streets And Highways Code >> Division 17. >> Chapter 5. >> Article 4.
31158
. If a bond issue for the acquisition or construction of the
toll tunnel is authorized and sold in whole or in part and the
authority deems it advisable and advantageous to enlarge or extend
the toll tunnel or to change the structure or design thereof in order
to afford new or greater facilities for any type or class of
traffic, the authority may issue additional bonds for the purpose of
enlarging or extending the toll tunnel or changing the structure or
design thereof in order to afford such new or greater facilities.
Such additional bonds shall be issued only if the surrender and
cancellation of all outstanding bonds issued for the acquisition or
construction of the toll tunnel as originally designed can be assured
or obtained by call or by consent of the holders thereof. Such
additional bonds shall not constitute a debt or obligation of the
state or of El Dorado County but shall be bonds of the authority of
the same character and payable from the same funds as other bonds
authorized pursuant to this chapter. The pledge of the tolls and
other revenues to be received from the operation of the toll tunnel
to the payment of outstanding bonds shall not be lessened,
diminished, or affected in any way by the issuance of such additional
bonds.