GroundRules
GOV § 14064
Where this section sits in the code
- Government Code - GOV
- TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA [8000. - 22980.]
- DIVISION 3. EXECUTIVE DEPARTMENT [11000. - 15990.3.]
- PART 5. DEPARTMENT OF TRANSPORTATION [14000. - 14463.]
- CHAPTER 1. General [14000. - 14089.]
- ARTICLE 4. Purchase, Sale, and Leasing of Passenger Transportation Vehicles [14060. - 14066.]
(a) Equipment obligations shall be sold by the Treasurer, after a resolution requesting the sale has been adopted by the commission. Equipment obligations may be sold by public bid or by a private negotiated sale. The Treasurer may sell equipment obligations at a discount not to exceed 5 percent of the par value thereof.
(b) Equipment obligations, and the interest thereon, are exempt from taxation in this state, except for gift taxes.
Collected 2026-09-14T05:56:33Z. Source file · JSON