§ 30959. — 30959. (Amended by Stats. 2013, Ch. 603, Sec. 2.)

California § 30959.

• Jurisdiction: California
• Code SHC: Streets and Highways Code - SHC
• Div. 17.: DIVISION 17. TOLL FACILITIES AND RELATED MATTERS
• Ch. 4.3.: CHAPTER 4.3. Metropolitan Transportation Commission

Text

The authority may make direct contributions to the commission in furtherance of the exercise of the authority’s powers under this division, including contributions in the form of personnel services, office space, overhead, and other funding necessary to carry out the function of the authority, with those contributions not to exceed 1 percent of the gross annual bridge revenues. The authority may also make additional contributions in the form of loans to the commission on a reimbursement-for-cost basis; provided that those loans do not, independent of the direct contributions, exceed 1 percent of the gross annual bridge revenues and are fully repaid with interest at the same interest rate that would apply for toll bridge revenue bonds of the same duration as any loan
taken by the commission. As used in this section, “gross annual bridge revenues” shall have the same meaning as in Section 30958.

Legislative History

Amended by Stats. 2013, Ch. 603, Sec. 2. (SB 613) Effective January 1, 2014.