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Upon voter approval of this ordinance, the Authority shall continue in effect as currently constituted. The Authority shall have all of the powers set forth in Division 12.5 (commencing with Section 131100) of the Public Utilities Code, all of the powers set forth in the New Transportation Expenditure Plan, and all powers incidental or necessary to imposing and collecting the tax and administering the tax proceeds and the Plan, and causing and overseeing the delivery of the transportation improvements therein contained. The Authority may allocate and reallocate the tax proceeds to meet project cash flow needs consistent with all the provisions of the Plan. In the event a project is infeasible, the Authority shall reallocate the tax proceeds for that project to other projects in accordance with the provisions of the Plan.
(Added by Ord. 267-89, App. 7/27/89; amended by Proposition K, 11/4/2003)