(a) The proceeds of the Taxes imposed by this Article 14 prior to the operative date of the amendments to this Article 14 passed by the voters at the November 8, 2022 election shall be used solely for the projects and purposes set forth in the New Transportation Expenditure Plan approved by the voters as part of Proposition K at the November 4, 2003 election and for the administration thereof.
(b) The proceeds of the Taxes imposed by this Article 14 on or after the operative date of the amendments to this Article 14 passed by the voters at the November 8, 2022 election shall be used solely for the following purposes:
(1) The projects and purposes set forth in the 2022 Transportation Expenditure Plan referenced in subsection (c) of this Section 1414, and any updates or revisions to such Plan expenditures or other expenditures allowed or permitted by Division 12.5 (commencing with Section 131000) of the California Public Utilities Code as those provisions existed on November 8, 2022, and Articles XIIIA and XIIIC of the California Constitution;
(2) To pay interest and principal on the bonds authorized and issued under Section 1413 of this Article 14; and
(3) To pay the cost of administration of the Tax.
(c) The 2022 Transportation Expenditure Plan is in Section 3 of the ordinance containing amendments to this Article 14 passed by the voters at the November 8, 2022 election, and, as part of that ordinance, shall be placed in the Appendix to the Administrative Code containing voter-approved measures.
(Added by Ord. 267-89, App. 7/27/89; amended by Proposition K, 11/4/2003; Proposition L, 11/8/2022, Eff. 11/8/2022, Oper. 4/1/2023)