Proposed Act definition
Examples of Proposed Act in a sentence
If passed, the Proposed Act could be construed to be effective on November 4, 1998 unless stayed by a court.
The Utility Rate Reduction and Reform Act (the "Proposed Act") has qualified for the ballot ("Initiative SA 97RF0064") and will be voted upon by the electorate on November 3, 1998 ("Proposition 9").
A majority of the electorate voting "yes" would pass the Proposed Act.
The Proposed Act would add Section 840.1(a) to the California Public Utilities Code, prohibiting utility taxes, bond payments, surcharges or any other assessments to pay for securitization bonds.
Purpose Of This Letter ---------------------- The purpose of this letter is to notify Certificateholders that, on November 3, 1998, the electorate of the State of California will vote on a Proposed Act (as defined below), which, if passed and upheld by the courts, would impair rights of Certificateholders and would lead to a default in the payment of principal and interest on approximately $6 billion of certificates, including the Certificates.