SB 642, 63rd R.S.
Authorizing the creation and organization in metropolitan areas of rapid transit authorities; excepting certain bicounty metropolitan areas as defined in said Act; making findings and defining terms; providing for an election; providing for transit authority boards; prescribing the functions, powers, duties, responsibilities, and privileges of such authorities and their engineers, employees and representatives; authorizing the levy and collection of motor vehicle emission taxes by such authorities; exempting certain motor vehicles; authorizing the issuance of bonds and notes and making provision for securing their payment by such authorities; prescribing the characteristics of such bonds and notes and their eligibility for legal investments and security for deposits; providing certain tax exemptions; authorizing the adoption of rules and regulations and prescribing of penalties; containing a severability clause.
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