California Harbors and Navigation Code

§ 71.8

HNC § 71.8 Effective Jan 1, 2010Div. 1 · Ch. 2 · Art. 3

Statute text

(a)A contract or agreement for a transfer pursuant to Section 70 or a loan pursuant to Section 71.4, for which gross revenues of a small craft harbor are made the security for repayment shall include, but is not limited to, provisions requiring the governing body of the city, county, or district to perform all the following:

(1)Punctually pay all installments of principal and interest on money owed to the state.

(2)Continuously operate in an efficient and economical manner all small craft harbor facilities acquired, constructed, improved, or completed in full or in part as a result of transfers or loans by the state.

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Legislative history

Amended by Stats. 2009, Ch. 610, Sec. 7. (SB 717) Effective January 1, 2010.