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California Law (Last Updated: March 4, 2014) |
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Education Code - EDC |
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Title 3. POSTSECONDARY EDUCATION |
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Division 9. UNIVERSITY OF CALIFORNIA |
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Part 57. UNIVERSITY OF CALIFORNIA |
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Chapter 5. The University of California Revenue Bond Act of 1947 |
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ARTICLE 2. Powers of Regents |
Section 92449.
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The regents shall fix rents, charges, and fees for all projects acquired, constructed, or completed under the terms of this chapter for the use of such projects by any persons utilizing the facilities of such projects, subject to such contractual obligations as may be entered into by the regents and the holders of bonds issued pursuant to this chapter. The regents may change rents, charges, and fees from time to time, as conditions warrant. All rents, charges, and fees shall at all times be fixed to yield annual revenue equal to annual operating and maintenance expenses, including repairs and insurance costs and all redemption payments and interest charges and reserve fund requirements on revenue bonds at any time issued and outstanding pursuant to this chapter, as they become due.