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DIVISION 9. EXPENDITURE LIMITATIONS 7900-7914›PART 4.6. STATE TRANSPORTATION BOARD 13990›CHAPTER 4. Technology Programs 13998-13998.12›ARTICLE 4. Purchase, Sale, and Leasing of Passenger Transportation Vehicles 14060-14066

§ 14064

California Government Code · 2026-09 edition · updated 2026-09-27 · California

(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.

(Added by Stats. 1984, Ch. 1510, Sec. 1. Effective September 28, 1984.)

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California Government Code

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