California Government Code 64129 – Any net earnings of the authority beyond that necessary for …
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Any net earnings of the authority beyond that necessary for retirement of any obligations issued by the authority or to implement the purposes of this division may inure to the benefit only of the state or the authority.
(Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
Terms Used In California Government Code 64129
- Authority: shall mean the California Transportation Financing Authority. See California Government Code 64102
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18