The authority shall expend only that amount of the funds generated pursuant to this division for staff support, audit, administrative expenses, and contract services that are necessary and reasonable to carry out its responsibilities pursuant to this division.

The authority shall not expend more than 5 percent of the funds generated pursuant to this division in any year for salaries and benefits of its staff.

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Terms Used In California Public Utilities Code 150103

  • Contract: A legal written agreement that becomes binding when signed.

(Added by Stats. 1986, Ch. 1521, Sec. 1.)

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