California Government Code

§ 92305

GOV § 92305Title 11 · Ch. 6

Statute text

The commission may enter into contracts of sale with any participating party covering any project financed by the commission. The purchase price pursuant to the contract of sale shall be sufficient to provide funds for all the purposes provided in Section 92304 and may be paid in installments, together with interest on the unpaid balance, or otherwise, as may be mutually agreed and set forth in the contract of sale. All payments received by the commission under any installment sale or conditional sales contract shall be applied by the commission substantially in the same manner as provided in Section 92302 in the case of lease payments or rental charges received by the commission.

Legislative history

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