California § 76. 76. (Amended by Stats. 2009, Ch. 610, Sec. 10.)

California Statutes

§ 76. — 76. (Amended by Stats. 2009, Ch. 610, Sec. 10.)

California·Code HNC Harbors and Navigation Code - HNC·Div. 1. DIVISION 1. DEPARTMENT OF BOATING AND WATERWAYS AND THE BOATING AND WATERWAYS COMMISSION·Ch. 2. CHAPTER 2. Department of Boating and Waterways·Art. 5. ARTICLE 5. Recreational Marinas

It is the intent of the Legislature that Harbors and Watercraft Revolving Fund moneys be used to implement the intent of Section 71.5 by providing loans directly to private recreational marina owners for the design, acquisition, development, expansion, and improvement of boating facilities. It is the further intent of the Legislature that borrowers receiving loans not charge unreasonably high boat berthing fees at their harbor facilities, but that those borrowers be entitled to charge rates that provide for servicing of borrowed indebtedness obtained to develop those facilities, provide for other expenses incurred in operating the facilities, establish reasonable reserves for repairs, maintenance, and replacement of those facilities, and provide a reasonable return on the borrower’s invest

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It is the intent of the Legislature that Harbors and Watercraft Revolving Fund moneys be used to implement the intent of Section 71.5 by providing loans directly to private recreational marina owners for the design, acquisition, development, expansion, and improvement of boating facilities. It is the further intent of the Legislature that borrowers receiving loans not charge unreasonably high boat berthing fees at their harbor facilities, but that those borrowers be entitled to charge rates that provide for servicing of borrowed indebtedness obtained to develop those facilities, provide for other expenses incurred in operating the facilities, establish reasonable reserves for repairs, maintenance, and replacement of those facilities, and provide a reasonable return on the borrower’s invested
capital.

California § 76. (76. (Amended by Stats. 2009, Ch. 610, Sec. 10.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.