Added by Stats. 1963, Ch. 1227.
It is the intention of this chapter that the authority shall pay all of the costs that it may incur from revenues derived from the sale, leasing and operation of the property.
Article 8 - Financial
California Government Code — §§ 40591-40592
Sections (2)
Added by Stats. 1963, Ch. 1227.
The commission shall establish and collect rentals, which, with the proceeds of sales, will yield an amount sufficient:
(a)To pay the costs of administration and operation of the authority;
(b)To pay the costs of maintaining, operating and improving its properties;
(c)To pay the interest on its contracts or bonds;
(d)To provide a fund for the principal of its contracts and bonds as they come due.