The authority shall establish financial eligibility standards by studying the creditworthiness and earning capacity of each project together with the amount of pledged revenues, debt service coverage, and basic security, in addition to establishing machinery to monitor the ongoing compliance of each project with state authority and bond indenture requirements.
Cal. Educ. Code § 94142
Powers and Duties; Notes and Bonds
Known as the California Educational Facilities Authority Act
The act spans §§ 94100–94213 (50 sections).
Enacted by Stats. 1976, Ch. 1010.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.