California Government Code

§ 92270

GOV § 92270Title 11 · Ch. 5

Statute text

No liability shall be incurred by the commission in excess of the amount of money which has been provided under this title, except that, for the purposes of meeting the necessary expenses of initial organization and operation until such date that the commission derives revenues or proceeds from bonds or notes as provided under this title, the commission may borrow money as needed for those expenses from private sources. The borrowed money shall be repaid with interest within a reasonable time after the commission receives revenues or proceeds from bonds or notes as provided under this title.

Legislative history

Added by Stats. 1982, Ch. 1553, Sec. 2.