DIVISION 20.7. SANTA MONICA BAY RESTORATION 30988-30988.3›CHAPTER 3. Funds: Security for Payment of Bonds: Accounts: Deposits: Investments: Interest and Other Increments 32060-32066›ARTICLE 1. General 32100-32116
§ 32116
California Public Resources Code · 2026-09 edition · updated 2026-09-27 · California
No liability shall be incurred by the authority beyond the extent to which moneys have been provided under this division, except that, for the purposes of meeting the necessary expenses of initial organization and operation until the date that the authority derives revenues or proceeds from bonds or notes as provided under this division, the authority may borrow money as needed for these expenses from the General Fund in the State Treasury. The borrowed money shall be repaid with interest within a reasonable time after the authority receives revenues or proceeds from bonds or notes as provided under this division.
(Added by Stats. 1983, Ch. 1264, Sec. 1.)
Retrieved: 2026-09-26T19:53:47.347822+00:00
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