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California Law (Last Updated: March 4, 2014) |
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Public Resources Code - PRC |
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Division 22. CALIFORNIA URBAN WATERFRONT AREA RESTORATION FINANCING AUTHORITY ACT |
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Chapter 3. Funds: Security for Payment of Bonds: Accounts: Deposits: Investments: Interest and Other Increments |
Section 32061.5.
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The activities of the conservancy in carrying out its responsibilities under this division shall be deemed to be consistent with and in furtherance of Chapter 7 (commencing with Section 31300) of Division 21.
The conservancy may pay for its support costs associated with this division from any funding source appropriated and available to it which may be used to fund its support activities under that Chapter 7. However, the conservancy shall keep records of its support expenditures associated with projects which may receive any or all of their funding pursuant to this division and, if the authority ultimately issues bonds for any such project, the conservancy shall seek repayment of its support costs with respect to that project from the authority. The authority shall reimburse the conservancy for its necessary and reasonable support costs in developing projects which are funded pursuant to this division.
Nothing in this section precludes the authority from reimbursing the conservancy for additional costs associated with its responsibilities under this division.